Uncovering the Hidden Job Market

Uncovering the Uncovering the Hidden Job Hidden Job

MarketMarket Ken C. SchmittKen C. Schmitt

SABPA – April 26SABPA – April 26thth, 2009, 2009

Uncovering the Hidden Job Uncovering the Hidden Job Market Market

Today’s Market Today’s Market The 3 Phases of Job Search The 3 Phases of Job Search The 4 Quadrants of Job The 4 Quadrants of Job

Search™Search™ The The Accelerator Accelerator Options Options

A + C = TA + C = T

Today’s Market Today’s Market

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San DiegoCaliforniaU.S.

Annual Average Unemployment Annual Average Unemployment RatesRates

Today’s MarketToday’s Market Growth industriesGrowth industries in San in San

DiegoDiego Small vs. Large CompaniesSmall vs. Large Companies Private vs. PublicPrivate vs. Public CleanTech CleanTech GovernmentGovernment HealthcareHealthcare Defense Defense High Tech & BioTechHigh Tech & BioTech

Today’s MarketToday’s Market

High Demand PositionsHigh Demand Positions EngineersEngineers Accounting Accounting Technical SalesTechnical Sales ScientistsScientists International Financial International Financial

ReportingReporting Business Process Business Process

Improvement / OperationsImprovement / Operations

The 3 Phases of Job SearchThe 3 Phases of Job Search

Define your Message

Develop your Sphere of

Influence

Deliver your Message

Define. Develop. Deliver™Define. Develop. Deliver™

The 3 Phases of Job The 3 Phases of Job SearchSearch Define your Message

Unique Talents and Skills - the “High Impact Resume”

Establish your targets

Create your 30 & 60-second “Career Pitch”

The 3 Phases of Job The 3 Phases of Job SearchSearch Develop your Sphere of Influence

Identify your key networkEnlist the support of everyone around you

Don’t count anyone outDiversify your networkNever stop building your network (even after landing a job)

The 3 Phases of Job The 3 Phases of Job SearchSearch

DeliverDeliver your Message your Message Develop & follow a planDevelop & follow a plan Make connections not contactsMake connections not contacts Seek out introductions, not “a job”Seek out introductions, not “a job” Leverage multiple sourcesLeverage multiple sourcesStay in constant contact (monthly)WIFT – What’s in it for Them?

Potential Sources of Job Openings

Online Postings

Recruiters

Attending Networking Events

Informational Meetings & Interviews

The 4 Quadrants of Job The 4 Quadrants of Job Search™Search™

Online Postings15%

Recruiters15%

Attending Networking

Events20%

Informational Meetings and

Interviews50%


Potential Sources of Job Openings Online Postings

The Ladders, 6figurejobs, Indeed.com, Simplyhired.com, Execunet, Monster, Careerbuilder

Average response rate = 3% - 5%

Great source of market intelligence

Good resource for non profit, academic, government jobs

12% - 15% of professionals secured their job through an online job posting


Potential Sources of Job Openings Recruiters

Industry based, functionally based, geographically based

Average response rate = 45% - 75%

Great source of market intelligence & referrals

Outstanding resource for highly technical and targeted positions

12% - 15% of professionals secured their job through a recruiter



Effective Networking

Networking is a one-on-one process that requires trust and a willingness to help others

Networking is about introductions, not jobs Networking is an opportunity to leverage other

people’s contacts by granting them access to yours

Networking takes practice and should continue throughout your entire career


The 4 Quadrants of Job The 4 Quadrants of Job Search™Search™““Job seekers are most likely to say they Job seekers are most likely to say they

used friends and family (74%) and used friends and family (74%) and referrals from current employees at a referrals from current employees at a company (70%) as resources when company (70%) as resources when searching for a job.” searching for a job.”

““Additionally, 40% of job seekers say they Additionally, 40% of job seekers say they used referrals from the potential hiring used referrals from the potential hiring company's customers or vendors as a company's customers or vendors as a resource when looking for a position.”resource when looking for a position.”

(Source: “Job Seekers: Personal Connections Still Matter”by Bryant Ott, Nikki Blacksmith, and Ken Royal; 2008 Gallup)


Attending Events

Industry based, functionally based or broad based

CMS, FENG, ExecuNet, InlandNet, CafeNet, Executives in Transition

TiE, ACG, HBS, USC, IMA, IIA, CDF, SDSIC, CommNexus, BIOCOM, ABFO, ASTD, NIRI, WITI, Athena, MIT Forum, SDVG, HFTP, Connect, SHRM/NHRA, etc.

Great source of market intelligence & referrals

Seek out introductions, not “a job” – people want to help

Bring a “wing-man”

Follow up is key



Attending Events – Helpful Hints

Scan the nametags for target companies

Arrive early and stay late

Stand near the drink station, buffet, registration table

Look for groups of 2 or 3 people

Make eye contact, smile and initiate conversations

Use inviting body language



Attending Events – Helpful Hints Help others & they are more likely to help you The goal is to “connect” with 3-5 people/event Exchange business cards and make notes The goal is to secure a one-on-one meeting Follow up with an email to schedule a meeting The goal of the meeting is to exchange referrals

The Keys to Effective The Keys to Effective NetworkingNetworking


Attending Events – Helpful Hints Conversation Starters:

“Are you a member?” “Is this your first meeting” “I see you work at xyz company, have you worked there

very long?” “I have heard of your company, what is your role in the

organization” “What does your company do?” “How has the downturn in the economy affected your

business?” “What other networking events do you attend?” “How did you find your position at xyz company?”



Informational Meetings & Interviews

Seek out introductions, not “a job”

WIFT – What’s in it for Them?

Come prepared with questions, research & targets

Offer your 1-pager vs. your entire resume

Stay positive



Informational Meetings & Interviews (continued)

Diversify your group

Manage your time – 5-10 meetings/week

Respect their time & be on time!

Respect their position & industry

Follow up is key


Potential Sources of Job Openings Informational Meetings & Interviews – Helpful

Hints Help others & they are more likely to help you The goal of the meeting is to exchange referrals Come prepared with questions & information Bring your 1-Pager and your “30/60-second career pitch” Follow up after the meeting & mention any referrals Send an invitation to LinkedIn Follow up again after each “referral meeting” Develop a “Career Update” email Provide closure at the end of your search


What good is Networking Anyway?

“…real networking is about finding ways to make other people more successful.” (Keith Ferrazzi, “Never Eat Alone”)

W.I.F.T. – “What’s In it For Them”


LinkedIn is the one tool that LinkedIn is the one tool that will enhance each of the will enhance each of the previous resourcesprevious resources

It has become the tool of It has become the tool of choice for recruiters & hiring choice for recruiters & hiring managersmanagers

Nearly 32 million people Nearly 32 million people maintain a profile on LinkedInmaintain a profile on LinkedIn

The The AcceleratorAccelerator - - LinkedInLinkedIn

Top 10 Reasons to get LinkedInTop 10 Reasons to get LinkedIn It’s FREE! It’s FREE! Find previous employers, old classmates and Find previous employers, old classmates and

former contactsformer contacts Develop a network of peers and service Develop a network of peers and service

providersproviders Gain access to your colleagues’ contactsGain access to your colleagues’ contacts Develop your list of target companies & search Develop your list of target companies & search

jobsjobs Gain insights about a company’s cultureGain insights about a company’s culture Create “Groups” to encourage sharing of Create “Groups” to encourage sharing of

market intelligencemarket intelligence Showcase your skills to prospective employersShowcase your skills to prospective employers Research prospective employers prior to Research prospective employers prior to

interviewsinterviews Enhance your “web presence”Enhance your “web presence”

LinkedInLinkedIn

3 ways to Leverage LinkedIn for your Job Search

Based on your list of target companies/industries, identify professionals from these organizations and secure introductions through your network

Reconnect with peers, past co-workers, alumni and old friends to establish contact & enlist their support in your search for introductions

Utilize the job search option to identify potential openings and opportunities to tap into your network

LinkedIn LinkedIn

OptionsOptions

RelocatingRelocating

Consulting Consulting

Changing CareersChanging Careers

Additional education & Additional education & certificationscertifications

Attitude is EverythingAttitude is Everything

AAttitude + ttitude + CCommitment = ommitment = TTangible angible resultsresults

Maintain BalanceMaintain Balance Look for an Look for an introductionintroduction, not “a job”, not “a job” Be consistentBe consistent ““Help them help you”Help them help you” WIFT – What’s in it for them?WIFT – What’s in it for them? Follow up Follow up

TurningPoint Executive TurningPoint Executive SearchSearch

Connecting People. Inspiring Connecting People. Inspiring Performance.Performance.

Ken C. Schmitt, President Ken C. Schmitt, President

[email protected]@turningpointsearch.net

www.turningpointsearch.netwww.turningpointsearch.net

Uncovering the Hidden Job Market

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