13 WHY NETWORKING IS SO CRITICAL WHEN JOB HUNTING 1. IT CAN RESULT IN REFERRALS Referrals are generally the number one way of hiring people. Building long-term, mutually beneficial connections will bring benefits now and throughout your career. Networking can help get you and your resume moved to the top of the pile for an interview. 2. IT IS AN IMPORTANT BUSINESS SKILL It’s the ability to meet new people and build mutually beneficial partnerships or exchange information with others. 3. IT CAN DIRECTLY IMPACT YOUR CAREER ACHIEVEMENTS AND INCOME Networking is a key reason for higher salaries and career advancement. Anyone can benefit significantly by improving their networking skills, habits and mindset. You can also stay current with the changes in your field by networking. Keep in mind that it may be natural to want to withdraw when the job search isn’t going well. That’s really when you should force yourself to go out and meet new people, expand your network and try new job search methods. It is estimated that only 20% of all jobs are advertised. This means that 80% of jobs are filled by companies who never advertised the position. This 80% makes up the hidden job market which includes the positions that are filled by referral. This is the “who you know” method of recruitment. Research shows that 25% of jobseekers make over 1,000 network contacts before finding a good job. Most career specialists feel that a network of between 40-75 people is required for the network process to work. Overall, the more quality network contacts you have, the more likely you are to find a good job. You probably “network” more than you realize already. If you are unemployed or searching for another job, it can be challenging to wait patiently until you find your next position. Networking may help make your job search process shorter. HOW JOBSEEKERS FIND HIDDEN (UNADVERTISED) JOBS People often make the mistake of looking for work by searching job postings and going to employment agencies that are paid by employers to find workers. While looking through job ads posted on the Internet and other places should be a part of your job search, you should not spend the majority of your time this way. A large number of people are looking at, and competing for, the same posted positions. Even if there is a lot of competition for a position, this should not discourage you from sending your resume in response to job ads. However, connecting with social networks or people you know can be a more effective job search strategy. Job seekers find approximately 80% of jobs through the “hidden job market” or the group of unadvertised jobs that exist. There is often a lag between when businesses decide to fill a position and when the job is posted. THE HIRING PYRAMID Did you know that only around 10-20% of jobs are advertised? Most recruiting takes place through networking, which is why we call it the hidden job market. If you can imagine all available job openings illustrated as a pyramid, the small point or peak would represent the advertised jobs, 10-20%. Everything below the point to the base of the pyramid would represent the majority, 8090% of available jobs. Employers start at the base of the pyramid and work upwards and jobseekers typically start at the top of the pyramid and move downwards.
RkJQdWJsaXNoZXIy MTM2NjgzMA==