The “Who You Know” Job Market

Latinos love to build relationships.  Indeed, we are very social individuals. So in a job market where it’s primarily “not what you know but who you know,” Latinos searching for a new job might have a slight advantage of grabbing a few. The New York Times provides a good overview of what it might take to land your next job. Internal candidate referrals have leaped ahead of most HR strategies in recruiting strategies. Online job boards like Monster.com, filled to the gills with long-term unemployed resumes, have been losing their notoriety among company recruiters – un-affectionately called “Monster-ugly.” In today’s job market, organizations are depending more on employees and less on their recruiting function:

Referred candidates are twice as likely to land an interview as other applicants, according to a new study of one large company by three economists from the Federal Reserve Bank of New York. For those who make it to the interview stage, the referred candidates had a 40 percent better chance of being hired than other applicants.