In this volatile economy, many leadership candidates are taking a dramatic step back financially to obtain employment. We have studied this seemingly understandable fact and we have come to a firm conclusion;

YOU DON’T HAVE TO DO IT!

It seems that most people believe the poor economy is a plausible reason to take a pay cut. Yet, in many facets of America, executives are doing just fine, making great incomes. The problem is not just the economy, it’s the supply and demand inversion that the economy created. In the internet age, information really does move at the speed of light. When an employer has an opening, everyone can find it by simply going on the internet. When the supply and demand curve is turned upside down, executives with the ability to drive dramatic growth for their companies end up lowering their price (salary) to be competitive. It is simply the increase in competition that is willing to take less that causes this phenomenon. This is good for the employer, but bad for the executive.

You may have heard the term “hidden job market” and thought that there was some mystical explanation or that people had access to it. Well, you are right. People do have access to it. They are called Search Firms. Anyone who asks you to pay them to help you tap into the hidden job market is either a fraud or they are selling you information. Either way, you don’t need to pay for access, it is all around you. You just have to make an effort to see it.

An average search firm owner will have 30 conversations a week with employers telling them that they have a need that must be kept confidential. THIS IS THE HIDDEN JOB MARKET. They tell the recruiting firm this because they have made a decision to do something about an employee who is not performing. This happens long before the job might end up on a job board. The job boards are the last resort for employers looking to fill a significant role. Take a look at the Job Opportunity continuum below and see what we mean.

Executive Job Opportunity Continuum

1. Stage 1: An owner or Sr. Executive gets frustrated with an executive’s performance and tells the Board. Only a few people know. Permission is granted to look for a replacement and the owner or Sr. Executive begins to look for a replacement. The opportunity is still confidential. This is the hidden job market.  Very few people know about the opportunity.
2. Stage 2: Those people tell a few people. Still only 10 to 20 people know. The Search Firm industry hears about the potential opening and begins to contact the employer. The employer chooses a search firm to look for replacements. The opportunity is still confidential and is still in the hidden job market.
3. Stage 3: Those people tell a few more and now the number is growing. The whole thing comes to a head and the executive either quits or is let go. The opportunity is still confidential and is still in the hidden job market.
4. Stage 4: If the search firm fails to supply the appropriate candidate, the company is forced to advertise the job on its website. THE OPPORTUNITY LEAVES THE HIDDEN JOB MARKET BECAUSE NOW ANYONE CAN FIND IT.
5. Stage 5: If that fails to deliver the appropriate candidate, the company may advertise on the job boards.  Now everyone knows.

When you hear that 80% of executive opportunities are in the hidden job market, the people quoting that number are not far off. Although we believe the percentage to be much higher, it really doesn’t matter. The fact is that the higher the level of the job, the less likely you will see it on any job board and you never have to pay anyone for access to this market. It is quite easy to get there. You simply have to find ways to get to the employer or the recruiting and search firm before they go public with the opportunity.

We at JSR believe that you need are 3 things to tap into this market;

1. Recruiting and search firms and names of employers where you would fit the industry

2. A resume that is flawless

3. The ability to back up your resume in the interview

Here are the questions you need to ask yourself;

• How do I get to the opportunity before it goes to stage 4?

• How do I get a list of search firms that are appropriate?

• How can I be sure my resume is perfect? (We can help with that!)

• Am I really able to back it up in the interview?

In the end, it is not just about being the BEST, it is also about being the FIRST. If you are not in the first 15 resumes that are submitted online, your resume is probably not even being read.

Jackson Stevens Resumes