Hidden market refers to describe jobs which are not publicly advertised by the employer.
Hidden job market definition
Hidden market refers to describe jobs which are not publicly advertised by the employer. The term hidden does not refer to the secrecy of the job but to the process of finding employees in a non public way.
Employers may choose hidden market method to reduce cost of advertized posts and trim the time involved in the finding/hiring process.
Advantages of hidden job market
• Cost and time reduction.
• Helps keeping company's hiring decisions as quiet as possible.
• Acquires suitable candidates through employee referal. The employees understand the needs of the job and have a vested interest in recommending good candidate.
• Provides a bonus option to employees who recommend the applicant who is hired.