Over the last 25 years, with the rise of job boards such as careerbuilder.com (started in 1995), monster.com (1999), and indeed.com (2004) as well as other industry specific sites, the traditional hiring process became automated and far too easy for candidates to apply. Soon enough, businesses and companies found themselves flooded with applicants, not to mention overwhelmed with the costs of posting job positions and managing applications through software called Applicant Tracking Systems.
However, with the boom of social media in the past ten years, and with employers becoming more keen toward talent management, traditional job postings could now become a thing of the past. In fact, some reports now suggest that 70%-80% of jobs aren’t even traditionally listed on job boards.
Of course, you would be remiss not to consider what the job search looks like immediately following a global pandemic that resulted in at least 40 million lay-offs last year in the U.S. alone. This is all to say that, if we learned anything last year, it’s how rapidly and dramatically the world can change… but there are ways to be attentive to shifting trends and to adjust your strategies accordingly.
Why Employers are Using The Hidden Job Market
Employers are moving away from the costly process of advertising available positions and managing applicants by utilizing the “hidden job market,” a term that refers to…