Accessing The Hidden Job Market

When I first arrived in Canada, I believed strongly that I would only need to rely on my qualifications to land a job in the corporate world. I had left Nigeria with the hope that coming to Canada would wash off the bitter taste of tribalism, nepotism and downright corruption that had bedeviled my career and that of so many other people.

Nigeria had taught me that, in many cases, when it came down to choosing from a shortlist of candidates, the hiring manager would ask you, “Who do you know?” In extremely competitive and lucrative sectors, it is taken up a notch and the question changes to “Who knows you?’ The subtextual context of these questions is that the hiring manager wants to avoid offending someone high and mighty by passing you over for someone even if that person is evidently more qualified.

Essentially, it was more important to be connected with someone in a position of power than to be the most qualified person for the job. A quick phone call or a note from this person would usually be all that’s required to get that coveted position.

It didn’t take long for me to figure out that those same issues were here also, albeit not to the same degree and intensity. The Canadian variety also had racism, blatant and subtle at times, and the catch-22 issue of lack of “Canadian work experience” sewn into the fabric of rejection that accompanies many applications from recent immigrants.

My initial excitement died down rapidly and gave way to a more pragmatic attitude of survival once these realities became etched brightly in my mind.  The first things I did were to conduct research on the internet and to ask for guidance from people I knew who had migrated to Canada earlier than myself and had successfully integrated into the Canadian system.

Two things became clear during this search process and over my time. Most of the jobs that were posted on job boards and even of the career sections of the companies’ websites did not fully represent the positions that were actually available at each of those firms. Secondly, the jobs that were posted were sometimes already given to an existing staff of the company but had been posted externally to “fulfill all righteousness.”

That was when I discovered what is called, for want of a better word, the hidden job market, This term refers to jobs that are not publicly accessible online or in career advertisements and are filled by or created for candidates who are referred to the hiring manager by another internal employee, trusted friends and associates, recruiters or even through direct contact with the candidate.

The hidden job market exists due to the hiring manager’s desire to reduce the risk of hiring the wrong person. The wrong person could upset the team dynamics, cost money to hire and then have to be terminated at an expense as well as may lead to loss of the hiring manager’s reputation and potentially, job loss.

People tend to gravitate towards those who look and feel like them and since hiring managers are normal human beings like anyone of us, they would tend to ask their close friends and colleagues for referrals to ensure that they would be hiring someone who would the right fit for the team

When hiring manages talk about hiring someone who is a good fit they loosely mean that this person would be both qualified for the job but also has the right look and feel that would enable the candidate fit into the culture of, and be an effective member of the team.

Referral reduces this risk because it is more reassuring to receive recommendations from someone you know already and trust. This is basic psychology which drive human beings in making choices even in mundane situations as where to go get a hair cut. You would ask your friend whose taste you appreciate to tell you where they got their hair cut.

This makes the referral system the most powerful way to access this hidden job market. And it boils down to the bench strength and depth of your social and professional connections. The better connected you are, the easier and faster it is to get a good well-paying job even when you have been terminated from the one you got already.

While there is no way to accurately measure the size of this so-called hidden job market due to its hidden nature, it is said that about 80% of open positions are filled through the hidden market, either directly by the hiring manager or indirectly through the connections of hiring manager. Let that sink in for a few moments.

Unfortunately, due to the opacity of this hidden job market, immigrants of color, especially recent ones who have not lived long enough to have connections are particularly, and effectively, shut out of this market. No-one would refer you to any position unless they know you well. It’s as simple as that.

As a recent immigrant you have to think outside the box to access this hidden job market.

A good strategy would be to sign up with recruitment agencies who can provide access to temporary work in the financial industry through which Canadian work experience can be gained, although this barrier is no longer as insurmountable as it was 10 years ago.

While doing the temporary work, you should immediately start investing in yourself through education and training as well as widening your network so that your preparedness will put you in position to snag the right opportunity when you find it. Do your research and talk to your network for tips and guidance.

Through networking, you will also learn how to present well at interviews, how to comport yourself and communicate effectively with the interviewers. There are some networking organizations in risk management or any field of your choice that you can join.  LinkedIn, the virtual professional networking platform, is a good place to search for, and connect with, people in the field you want.  You can also join professional associations where you can network with established decision-makers.

Jobs / career fairs may be a good source of jobs that are not yet advertised.  Targeting smaller companies can also be a good strategy to access the hidden job market because, reportedly, more job growth occurs at small companies and because they don’t always have the substantial budget to advertise jobs externally, there is less competition for positions.  Jobs in small towns outside Toronto are also less likely to be advertised for the same reason.

Another complementary strategy is to multiply your network by asking your immediate network to introduce you to their own networks. This will expand your network faster than building it organically which could take years and may not flourish at all. This network effect will be faster if you can get introductions from longer tenured immigrants who have been able to develop good relationships with their colleagues over time. Your predecessors who have created a very strong personal brand are sometimes asked to refer someone like them.

Depending on your situation, you can also try volunteering. It is a non-threatening, and especially non-competing activity that would facilitate the gradual acceptance by people in hiring positions. As you perform creditably well and build your personal brand, the hiring manager may either offer you a position or refer to a colleague that is hiring internally before the job is posted externally. I know some people who have benefited from this strategy.

The networking helps in getting you close to the opportunity, and helps you get a foot in the door for an interview, at the very least.

Once you step through that door, you must acquit yourself well in the interview and make a strong case for your candidacy with the educational and professional qualifications you must have invested in. You must make your own luck sometimes to break through the barriers that impede access to good jobs.

 

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Ernest Onuorah, MBA, is a financial services risk consultant, author, speaker, and career coach. He had worked at consulting and financial service firms including PWC, TD, RBC, BMO, and Home Trust Company, a $2.5 billion niche mortgage lender, where he was AVP, Enterprise Risk Management. He holds the CRISC, FRM and CRM designations. His areas of expertise are Enterprise & Operational Risk Management. He can be reached at ernest.onuorah@localhost.