JOBTALKSJOBTALKS

The Hidden Job Market: Networking Your Way to the Top

Indiana UniversityKelley School of BusinessC. Randall Powell, Ph.D

Lily Tomlin

“We’re all in this alone.”

Break out of solitary confinement and use all the people around you to multiply your assets.

Networking

The Hidden Job Market:Networking Your Way to the Top

Title

60 to 85% of all jobs are never advertised.

Why advertise when you can make a phone call and get qualified candidates?

The Hidden Market

The employer isn't looking for the best qualified person but for the best qualified, easily available person.

That’s Unfair

Often called the old boy network.It exists because it works.

Networking

Networking breaks down into two categories:

– Prospecting.– Info-searching.

Two Types of Networking

Actively looking for a job and letting the world know it.

Contacting people to find that job.

Prospecting

More of a long-term approach.Contact people to find out more about the industry.You go in with the intent of finding information.

Info-Searching

You should be prospecting, but don't ignore info interviews.

Do both!

Which is for You?

You need raw materials for building a network.

You need people.

Brainstorm!

How Do I Start?

Networking

Mind Mapping

Once you've got names, you need to figure out who can help you the most.

Cull down the number enough to be manageable.

Save names in case you need to come back to them.

Names

If you know 50 people and they know 50 people, you have 2500 friends of a friend.

The “Friend of a Friend”

You'll need 200 contacts for one good job lead if you are in your twenties.

If you are in your forties, you will need 600 contacts!

Keep Those Contacts

Your contact network is your sales force.You are the product.You are the sales manager.

It’s Your Network

Make sure your sales force is trained.Tell your contacts what you're looking for:

– The type of job.– The location.– The type of company.

As the Manager

Educate them on what you are selling.They should know about your:

– Experience.– Education.– Your key selling features.– How you can benefit employers.

Educate Your Sales Force

"That's a lot of work for someone to do on my behalf."

People want to be helpful. They want to have an impact.

Will They Do It?

You may get responses such as:"I don't know anyone in that field."

Help that person remember those who may not work in that field, but who have a connection to that field.

Dead Ends?

You are looking for a position in Marketing Analysis in consumer goods.None of your contacts know anyone.

Ask the following...

Breaking Through Dead Ends

"Who do you know that works in another function such as Finance, Personnel, or Production in a consumer goods company?"

Ask:

"Who do you know that works for a company that sells or buys from such a company?"

Ask:

"Who do you know who works for a distributor or retailer that would handle these products?"

Ask:

"Who do you know who works in marketing in any type of company?"

Ask:

"Who do you know who works in a location near one of the targeted companies?"

Ask:

You may find a contact who is indirectlyconnected with your targeted industry.

You can make connections if you try!

What Good are the Answers?

One experiment proved quite dramatically how you can make connections. A researcher asked a friend to put her in contact with another person. The friend was able to make the introduction with only three phone calls.

Networks Can Work!

When approaching people you know, have your agenda planned. Know how this person might help. Shoot for a specific action.

Have an Agenda

The best route is to name drop.Mention a mutual friend.People are less defensive if they hear a familiar name.

Name Drop

If you don't have a name, it's a different ball game.

You are entering a direct job search.

No Name

One way to get names is to meet people.

The best form is to meet people face-to-face.

Find out what organizations might prove helpful.

Meet People

How to Make Networking Pay Off

What do you want to achieve?If you call without a plan, don't bother calling.

Have a Plan

For most networking calls to a friend, you should have one or 2 goals:

– 1. Get the names and numbers of other people who can help.

– 2. Enlist this person's assistance as one of your sales reps.

Have a Goal

You should have a script for what you want to cover.

A call might go something like this:

Have a Script

Hi, John. This is Terry Mills. How are you doing?Hello, this is John Smith.

Sample Script

Terry. It's great to hear from you. How are things going with your MBA at Indiana?

Well, it's winding down. Once you knock the first year out, it's all downhill from there. What's new in your life since we last talked?

Sample Script

Nothing really. The workload has really increased, though, since the layoffs here.

Is your job safe?

Sample Script

Well it is for now. it's a shame we can't go out and hire people like you to turn this place around.

I've been finding that all over. Lots of companies would love to hire me but they are all under hiring freezes. I called hoping you might be able to help me in finding the hidden jobs all the employment people are always talking about. To be blunt, I'd like your help in my networking campaign.

Sample Script

Well, John, I'm graduating in May of next year and looking for a product management position in a small to medium-size (100 to 5000 employees) manufacturing company of commercial equipment, like copiers, desks, lathes, and packaging. My degree's in marketing and that combines well with my financial background in making me a well-rounded candidate.

Sure Terry. How can I help? It's obvious nothing's happening here.

Sample Script

Sounds like you know what you want.

If you're not, you're doomed to get lost in the numbers shuffle. John, the first thing I want to ask is who do you know who has a position like the one I want? Who do you know who works for a company like I described?

Sample Script

Could I get her name and number? Is it okay to mention your name? What can you tell me about her? Is there anyone else you can think of who works for a company like that?

Sample Script

That's plenty of names for now. I really appreciate your help. I'll give you a call to let you know how this is progressing.

Sample Script

Ask for names and numbers.Ask if you can use their name.

Ask and Ye Shall Receive

Tell them exactly what you are up to.They'll trust you more.

Be Honest

Don't worry that you can't repay them for the favor.

“I Owe You One”

Get your contacts to feel a part of a team effort.Thank people sincerely and often.

The Team

How To Socialize and Network Simultaneously

How to meet the people you want at social gatherings.

The Problem

Have a plan.Lay out your goals ahead of time.Write them down.

The Secret

To make an impression, you have to stand out in a positive way.

Make an Impression

"Hi, I'm Gary Smith. I also went to Hillsdale College."

"Good evening, my name is Donna White and I'm combining my MBA with my undergraduate degree in French."

"Hello, I'm Terry Dacowitz. I worked for your customer, Pipeline Industries, before coming back for my MBA."

Some Good Opening Lines

Add a little something to the conversation.It will get the conversation started in your direction right away.

A Little Something Extra

Find something in common with your "target."

People who believe they have something in common start acting like it.

Find Something in Common

You don't have to ask extremely in-depth questions just to demonstrate your knowledge.

Give your target something light to digest.

Small Talk

Get your target talking.Ask questions that show interest.Show interest in him or her as a person.

Get Them Talking

Nine ways to guarantee your networking campaign won't be successful.

Pitfalls

1. Deal only with those people you know well.Take the safe and easy route.

Pitfalls

1. Deal only with those people you know well.Take the safe and easy route.2. Be afraid of "No."You don't like rejection.Don't put your ego on the line.

Pitfalls

1. Deal only with those people you know well.Take the safe and easy route.2. Be afraid of "No."You don't like rejection.Don't put your ego on the line.3. Don't take chances.Don't call those referrals you don't know.Don't ask for any favors.

Pitfalls

4. Cover all your bases.Never commit to anything.

Pitfalls

4. Cover all your bases.Never commit to anything.

5. Let your contacts figure out what you are good at.

Pitfalls

4. Cover all your bases.Never commit to anything.

5. Let your contacts figure out what you are good at.6. Ask all of your contacts for a Job.

Time is too valuable to waste on dead ends.

Pitfalls

4. Cover all your bases.Never commit to anything.

5. Let your contacts figure out what you are good at.

6. Ask all of your contacts for a Job.Time is too valuable to waste on dead ends.

7. Don’t tell your friends about your Your friends know you better than anyone.

Pitfalls

8. Ask for the impossible.

Pitfalls

8. Ask for the impossible.9. Don't worry with feedback.They don't need your thanks.

Pitfalls

Many networking opportunities put you in a social situation where you must rely on your ability to meet people.

Social Situations

You must have goals.

What type of people do you want to meet?

Write them down.

Have Goals

Write down not only the what, but also the how.During this event, I want to:

– 1. Meet 5 people in the marketing community.

– 2. I will be honest about my situation and get leads or introductions "toward" people in industrial marketing.

– 3. I will practice active listening. I will let my contacts talk. I can't learn anything by talking myself.

– 4. I will get business cards and a specific time to call for further information.

The What and How

You must be aggressive.

Forget these people are strangers.

Don't wait for the crowd; go to the crowd.

Be Aggressive

Don't spend all your time together.

Use a Buddy System

You arrive and everyone is in conversation.

Pinpoint a loose knit group and ease your way in.

Getting Into a Conversation

If you spy two people in a heated discussion, avoid it.

Heated Discussions

Name tags should be put on your right side. Put something on it to give more

information. Don't hang around the buffet. Don't socialize and eat at the same time. Carry your drink in your left hand. Introduce yourself clearly. Use a "tag line" that will make you more

memorable.

Some Pointers

Be prepared.–Be prepared with small talk.–Ask lots of questions.

Talk in positives.–Don't downgrade your education or the job market.

–Use "When I get a job" rather than "if..."

More Pointers

Listen.– Use body language that shows you are interested.

– You listen with your ears and face. Make leads.

– Turn a casual acquaintance into a lead.– Mention "I'm looking for a job in industrial marketing in this area. Who do you know that might be willing to help me learn more about the market here?"

Don't take a resume.– Mail him or her one.

Some More Pointers

The Hidden Job Market:Networking Your Way to the Top

End Slide

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