In Celebration of Small Businesses – A Hidden Job Market of Opportunities

by Chandra Drevjany, Principal and Co-Founder, eLoft Careers ​​

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

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​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!  

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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:

• Online postings via company websites, job boards, associations, and online classifieds
• Jobs found via employment agencies, search firms or headhunters
• Positions posted by a career services department or community employment services group
• Open positions you find at job fairs and recruiting events
• Jobs posted in print formats such as in newspapers or trade magazines

Regardless of how a position is advertised, remember that these jobs make up the public job market and therefore only a small percentage of jobs that are available. 

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​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. 

• Make networking and conducting information interviews your #1 method of job search. 
• Share your career goals with everyone you interact with including friends, family, and acquaintances. 
• Attend all types of events to expand your networks and meet new people.  If you are seeking a job, this is not the time to shy away from invitations and event opportunities.  Of course, networking events are terrific especially ones that will expose you to people in your field and/or industry. 
• Develop professional social online profiles to attract employer attention.  Due to the volume of applications employers receive when they advertise jobs, many will use social recruiting strategies to find their own candidates online and invite them to apply.  You cannot be found by these employers if you do not have a professional presence online.  Focus on developing your LinkedIn profile first as this is the most commonly used platform by employers.  Consider other platforms depending on your field of work. 
• Subscribe to news alerts and follow companies of interest on social. 
• Finally, share articles and other information via your professional social online platforms related to your field of work.  This strategy is interesting because it helps to develop your digital footprint as a professional and helps keep you top of mind to people in your network since they will receive ‘pings’ that remind them you are out there.       

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​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