The infamous hidden job market

Numerous businesses in Canada of every shape and size are continuously looking for solutions to the unique challenges that they are faced with when it comes to attracting and retaining skilled, experienced and talented employees. The tough labour market presents the reality of a depreciating pool of qualified workers to fill jobs in almost every sector of the economy. Companies are also just starting to engage in a “war for talent”, which is expected to intensify as the baby boomers retire and as the working population continues to age.

Today’s talent shortages are already impacting many industries. The anticipation is that the economy in Canada will be faced with countless deficits in qualified workers in the next decade. At same time, most companies are more and more leaning towards non-conventional methods of hiring. In this day and age, especially for those companies that were impacted by the recession, job advertising is a costly and time-consuming way to attract talent. They would rather save the money and time by hiring someone they know.

Looking for a job in the newspaper, at Workopolis, Job Monster and job banks are all great avenues to apply for “advertised” positions. However, did you know that job postings found in the newspapers and websites only represent 20% of existing job openings? The remaining 80% of jobs out there are found in the “hidden job market”. These are jobs that are not publicly announced or advertised. Therefore two methods need to be utilized in order to increase your chances in landing the job that you really want.

First, let’s distinguish the difference between the visible job market and hidden job market. Jobs that are visible are posted in newspapers, online job search engines, job banks, unions, bulletin boards and employment agencies. Those jobs that are hidden are found through networking, cold-calling, reading articles about business issues (i.e. changes in certain companies, new plant openings, etc.), and professional associations.

Now, how do we tap into the hidden job market? Everybody talks about how hard it is to tap into it. It’s not really all that bad as long as you know where to go and who to approach. Here are some tips:

Where to go

Make yourself well informed. Research potential employers in your field and start reading about their background. Know what they do and how you think you would be able to contribute. Compile a list of companies that you are interested to work for and start looking up their phone numbers, particularly the human resources or staffing department.

Once you have their contact information, it’s time to call. This technique is called “cold-calling”. First, introduce yourself, “Hello, my name is ____. I understand that your company is in the field of ____ and that’s the area of my career interest. I was wondering if you have any job openings at the moment.”

If the answer is no, it’s not the end of the world. Ask if they anticipate any openings in the near future. Also, obtain their name and title. Although they may not have any opportunities at the time that you called, as long as you think the hiring manager is interested, ask that person if it would be possible to meet in person to discuss any career possibilities in more detail. No matter what the outcome is, a thank you in end is always a good idea.

Who to approach

Networking is not only a way to get connected with people; it is a way to make contacts. These contacts may eventually lead to job opportunities. For employers, it is a way to help them find new employees to hire. Typically, your network is made up of almost anyone you’ve ever met. Of course, not everyone is part of your active network, but each person has the potential of leading you to other contacts. There’s only one approach to using your network. Call everyone you know and tell them you’re looking for work. Ask for a referral or a recommendation of who you could talk to. Another way is contacting the associations related to your occupation.

“When you are asked if you can do a job, tell ‘em, ‘Certainly I can!’ Then get busy and find out how to do it.” ~Theodore Roosevelt

Sources:

www.workopolis.com
www.labourmarketinformation.ca

Michele Majul is an HR Professional with Canada Post Corporation in Prairie Region. She graduated from the University of Manitoba with a Bachelor of Arts Degree in Psychology and a Certificate in Human Resource Management.

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