The Job Exchange

Tapping Into The Hidden Job Market

5 Statistics that Matter for Your Job Search

Each year for the past nine years CareerXroads has conducted a survey about the sources of new hires. The most recent survey, “Meltdown in 2009 and What It Means for a 2010 Recovery” (full report available here), solicited source of hire stats for 43 large companies, who collectively filled 176,000 positions in 2009. While the sample size is small, and arguments can and have been made about the accuracy and applicability of the statistics, the survey results are nevertheless revealing, and have some  important implications for how job seekers invest their job hunt energy.

CONSIDER:

Internal transfers and promotions were the source of 51% of all full-time hires in 2009. This is up by 19% from 2006.

Referrals account for 26.7% of all external hires, and yield an average of one hire for every 15 received.

Job boards and corporate career sites accounted for 22.3% and 13.2% of new hires respectively, 35.5% in total.

Third party recruiters accounted for 2.3% of all external hires in 2009, down from 5.2% in 2005.

2.3% of external new hires were people who walked in the door.

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10/03/2010 Posted by | hidden job market | Leave a comment

Company Contacts

Let’s start exchanging information that job seekers can use to connect with real people, not Applicant Tracking Systems.

For example, Fannie Mae has a ton of diverse openings across the US.  Does anyone have a recruiter name for Fannie Mae? How about a the name and contact info of a Hiring Manager?

What about other companies you’ve applied to? Do you have contact information you can share?

Are you looking for contact information for a company? If so, enter your request under the comments.

So, let’s start helping each other: If you have an interest in applying directly to a REAL PERSON, add a comment here.

Your comment or request should look something like this:

COMPANY

CONTACT NAME

CONTACT EMAIL AND/OR PHONE

04/20/2009 Posted by | hidden job market | , | 2 Comments

How To Find a Job

I just happened to stumble upon this amazing article yesterday as I was cooling my heels waiting to board a flight to New Jersey.

I had picked up the latest copy of Fortune magazine (the headline “How to Find a Job” caught my attention), and was THRILLED to see so many of the ideas and tips we’ve espoused here laid out in the article.

This is a MUST READ for every job seeker out there.  We’ve talked endlessly here about the hidden job market, the resume black hole, and why it is vital that you find creative ways to reach the people responsible for hiring decisions.

So take a few minutes to read every line of this article. And please, go back and read some of the posts we’ve put up here, including:

Apply Now: The Black Hole

Google Power Job Search Tips

Sallie Mae To Add 2,000 US Jobs  (warning: this will give you one of the “secrets” to locating real people in a company!)

Job Search Secret: Trade Shows

04/17/2009 Posted by | hidden job market, job search | , , , , , | Leave a comment

Fannie Mae & Freddie Mac: 3,000+ Jobs

From the New York Times:

Fannie Mae and Freddie Mac are suffering from an exodus of senior and midlevel managers. The companies have been unable to replace executives who have either been pushed aside as part of last year’s government takeover, or who sought refuge at less stigmatized companies offering better pay and a more predictable future.

News articles are another great resource for finding the elusive hidden job market. A quick search at Indeed.com shows that Fannie Mae has over 1,300 openings

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04/16/2009 Posted by | hidden job market, job search | , , , , | Leave a comment

Job Search Secret: Trade Shows

As we’ve mentioned here before, about 80% of jobs are never advertised, so consider adding another useful tool to your job search toolbox: Trade Shows and Industry Association gatherings

One of the best activities for locating unadvertised or hidden jobs  is attending industry- or product-related trade shows.  Because only 20% or so of jobs appear on the boards or a company web site, get a leg up on your competition and go after the 80% of jobs that few others are looking for.  [Also, the Conference Board reports that “in April, there were 2.4 advertised vacancies posted online for every 100 persons in the labor force, down from a high of 2.9 in April 2007.”]

In fact, CareerXroads  recently conducted a study that concluded 12.3 percent of external hires come through job boards.”  Take a look at the following “Sources of Hire” breakdown that came out of that study.

CareerXroads Sources of Hire

CareerXroads Sources of Hire

Some of their key findings include:

[Companies’] desire to reduce hires (and associated costs) attributed to third-party recruiters, newspapers and job boards, while increasing tactics connected to social networks and search engine marketing to how important referrals are to recruiting.”

Yahoo! has an impressive list of conventions and trade shows here.  By drilling down in each category, you can locate the events of interest to you and make plans to mingle with your peers. This will help you accomplish a number of things:

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04/14/2009 Posted by | hidden job market, Industry Associations | , , , | 5 Comments

Wells Fargo + Record Profits = JOBS

From Huffingtonpost.com

Stocks surged Thursday to their highest levels in two months after banking giant Wells Fargo & Co. surprised the market with an early profit report that blew past analysts’ expectations thanks to a strong increase in its lending business.

A quick peek at Wells’ career site displays hundreds of job openings throughout the country. As well, go back to their main career page and you can also view the Wachovia openings. (As of January 1, 2009 , Wachovia is part of Wells Fargo.)

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04/10/2009 Posted by | hidden job market, jobs | , , , , | Leave a comment

Sallie Mae To Add 2,000 US Jobs

Sallie Mae is the nation’s leading provider of student loans and administrator of college savings plans, has helped millions of Americans achieve their dream of a higher education. The company primarily provides federal and private student loans for undergraduate and graduate students and their parents.

From MSNBC.com:

Sallie Mae said Monday that it will bring 2,000 jobs to the U.S. within the next 18 months as it shifts call center and other operations from overseas.

Aside from call center positions, the nation’s largest private student lender will be looking for individuals to fill information technology and operations support roles.

Sallie Mae runs facilities in 20 U.S. locations including Lynn Haven, Fla.; Fishers, Ind.; Wilkes-Barre, Pa.; Killeen, Texas and Newark, Del.

Browse their online job listings here.  Click the ‘read more’ button below to see how to avoid the black hole!

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04/06/2009 Posted by | hidden job market | , , , | 3 Comments