RESEARCHING A COMPANY
One of the most important skills a job-seeker can learn during a job-search is research skills. The quality of your research skills will dramatically impact both short term job search and longer range career continuity. Information is a critical commodity in job-hunting; the more you know and the easier it is for you to find information, the better your chances of success. So, make the commitment to improve your research skills. In fact, hold yourself accountable to research time each and every week. Employers value job-seekers who know key information about the company because that knowledge demonstrates your interest and enthusiasm for the company and for the job.
Discovering the state of a company's financial future has the same limitation that faces Wall Street: PAST performance is not a reliable predictor of future results. Such a quest for information on a company can be challenging but can yield powerful results. Finding information on a company's competitors, company financial stresses and major lawsuits can counterbalance the positive information portrayed by the company's own website, the most positive view of available information...
WHEN to Do Research
If attaining and maintaining career continuity is your realistic goal, you’ll find four specific times during which researched information will be important to you… First and foremost should be your commitment to knowing your marketplace for the rest of your career. This implies setting aside a reasonable amount of time on an on-going basis, whether you’re employed or not. Often research leads to "spot media opportunities" that may lead you to your next right work.Second, and perhaps most common, is when you are just starting a specific job-search and looking to identify key companies in your profession or industry, or even in a specific geographic location. I have always found this single factor to be the most under-utilized way to prepare for an effective job search.
The third possibility is when you are applying to a specific employer; it’s always best to relate yourself to the company and tailor your cover letter and resume to each employer.
The fourth -- and when most job-seekers finally do some research -- is when you have been invited to a job interview; you’ll want to showcase your knowledge of the company.
The sooner you get started, the better off you’ll be.
Utilizing The Search Engines
The Careerpilot is not a big fan of maintaining giant lists of bookmarks, pathways to commonly used information. Rather, developing the skill of Internet SEARCH will serve you well in the long term. As an example, let's use legal issues...
By entering targeted keywords into various search engines you can discover
whether any lawsuits have been filed against a company. The keyword search
string below will source web pages that mention a particular company along
with the word "lawsuit." In many cases, this information will be about a
lawsuit against the company. Sample keyword search string: Companyname AND
lawsuit
This tactic can effectively be used in the following search engine:
Google -
http://www.google.com
Exploring the more
NEGATIVE (or honestly stated side) available research may yield the
"answers" that you seek.
The Company's Competition
The following are a few tactics, using publicly accessible tools, for identifying a company's competition.
Hoovers Online
This site, although subscription-based, offered quite a bit of useful
information for free. The "Fact Sheet" for each specific company in their
database lists the 3 "Top Competitors." If this information isn't listed,
typically in the case of smaller or private companies, selecting the options
under "Industry Information" (on the Fact Sheet), will bring up a "Most Viewed
Companies" list. Generally larger companies will be on this list, but it is a
great start and lists up to 10 companies.
Online Yellow Pages
Targeting companies through online yellow pages directories will yield lists of
similar companies - basically competitors. The two directories below can be used
to find similar, competing companies.
Superpages.com - enter the business name, then select the "business profile" link. An "Appears in Categories" section will list business categories in which this particular business appears. Click on the most appropriate category, and a listing appearsof other companies in the database which also are in the category - basically competitors.
Smartpages.com - Not quite as effective as superpages.com, this site doesn't offer the option of entering a company name, and then selecting a category. Instead, enter the "Business Type" for the company and a list of corresponding popular categories appears. Click on the most appropriate one to receive a listing of companies in that category. Typically the company you know of, will be listed along with its competitors.
SEC Financial Filings - If the company is public, they are required to file an annual report (form 10K) that contains a section titled "Competition." To access this information, search the SEC's EDGAR database below for a particular company, and source their most recent 10K. Locate the section labeled "Competition." EDGAR database - http://www.sec.gov/edgar/searchedgar/webusers.htm
The Company's Financial Stresses
A public company's falling stock price can be an indicator of financial stresses on the company. The website below offers access a compilation of resources covering a company's stock chart, earnings, financials and analyst recommendations.
A public company's most recent annual report (form 10K) will provide an accurate, comprehensive overview of the company's financial health. A company's 10K can be accessed through the SEC EDGAR database below: EDGAR database - http://www.sec.gov/edgar/searchedgar/webusers.htm
Grey Metal Box.com
A Useful CHART on Search Tactics Search Engine Resource Search Strategies
...And when its time for transition to something new...
Bob Maher, CMF... The Careerpilot
Bob created his online presence, www.careerpilot.com, in 1994. He has over twenty years of successful experience in Corporate Recruitment, performance management and Career Management Services. He is an entrepreneur and innovator in the use of information technology in the recruitment and employment process. On the Founder's Council of the Association of Career Professionals - International and quite active in their Professional Development, Technology and Chapter Growth initiatives--a frequent speaker at industry conferences and seminars. Awarded the prestigious "LIFE ACHIEVEMENT AWARD" in 2006.