The 3 Elements of an Effective Job Search

Historically, senior executives have relied on being “in the right place at the right time” when  changing jobs.  Unfortunately, the job market has evolved dramatically over the last decade and the process has changed along with it.

Beginning in 1999, companies stopped relying on newspaper ads, migrating their recruiting efforts to the general job boards.  Then, in the middle of the last decade, specialized job boards came into fashion.  More recently, companies have shifted once again, away from traditional job boards towards the more targeted social media sites such as LinkedIn and Facebook. Furthermore, the odds of a senior executive securing a new position through an online posting or executive recruiter is now less than 15%!

Regardless of this shift, however, the existence of the “hidden job market” remains intact.  In fact, it is estimated that 80% of new positions never make it to a job posting, corporate website or recruiter’s desk.  Additionally, nearly 75% of all positions are filled through a referral, vs. only 25% from a job board, corporate website or recruiter.

In order to tap into this hidden market, senior executives must focus their efforts on building and leveraging their network.  80% of your time should be spent connecting and meeting with key decision makers and participating in relevant trade associations.