Companies prefer the hidden market for three reasons:

1. Trust: If a trusted employee says, "Hey, I worked with this person, and they aren't a disaster," that carries more weight than a 4.0 GPA from a name-brand school.

2. Speed: Referrals skip the "getting to know you" dance.

3. Cost: Internal hires and referrals don't require $10,000 headhunter fees or $500 job board slots.

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