October 20 – 26th celebrates small business week in Canada with exciting events happening across the country. As of 2017, small businesses (< 99 employees) employed 8.29 million individuals in Canada or 69.7 percent of the total private labour force. Between 2013 and 2017, small businesses were responsible for the majority (67.5 percent) of net employment growth and this is predicted to continue. Source: https://www.ic.gc.ca/eic/site/061.nsf/vwapj/KSBS-PSRPE_Jan_2019_eng.pdf/$file/KSBS-PSRPE_Jan_2019_eng.pdf
So, what does this mean for job seekers? Job opportunities for all sizes of organizations, and particularly for small businesses, often exist in the hidden job market. Many job seekers make the mistake of focusing their search on publicly posted job opportunities (the tip of the iceberg), thinking this is the optimal way to look for a job, but to be successful, they need to learn to uncover hidden opportunities.
The hidden job market consists of available or soon to be available positions that are not advertised publicly. Although it is very difficult to measure how large the hidden job market is (after all it is hidden), most if not all the information you will find about this source of job opportunities estimates it to be larger than the public job market. This is definitely a source of open positions you want to ensure you tap into during your search!
The Public Job Market
The public job market consists of those jobs that are advertised publicly. Jobs that would be considered in the public job market include:
How to Uncover the Hidden Job Market
There are several ways you can uncover the hidden job market and be the first to learn about positions before they are advertised.
To learn more about small business events across Canada where you may be able to uncover your next exciting hidden job opportunity, check out: https://www.bdc.ca/en/small-business-week/events/pages/default.aspx
For a more information on how to optimize your job search, check out our online course
Job Search Strategies and Networking Success