How to Examine Potential Employers
A Checklist for Job Candidates
Employers go to great lengths to screen their interviewees in order to maximize their chances of hiring productive and qualified workers. They want to hire people who will give them a return on their human resources investment. You should be as discriminating when choosing an employer!
By Chris Alfe, Thingamajob Staff Writer
...a company long established in its industry that dominates its competitors is more likely than others to be able to weather this or any economic storm.
In a labor market as bumpy as ours is today, it's particularly important to choose companies wisely since transitioning is more painful during a loosening labor market. Many job seekers examine job positions very closely, but often don't consider the relative strength of the companies from which these offers are made.
Use this helpful, three-point checklist to examine any company for which you are considering employment.
Company Overview ? What to Look For
A basic summary of a company and its business is a great place to start when researching. Get a fundamental understanding of the market segment in which the company operates, who its competitors are, the origins of the company, and its general position in the market today and through the years.
Company web pages are a good place to start, but remember that the material posted to these sites isn't objective ? it's usually written by the marketing department. For more honest profiles, use a business research web site. Hoover's Online offers terrific "Company Capsules" at no cost for many medium and large sized companies.
Simply, a company long established in its industry that dominates its competitors is more likely than others to be able to weather this or any economic storm.
Examine the origins of company; technology firms associated with more established parent companies typically have backing and business plans that can help them prevail while others fail. For evidence of this, look no further than the recent "dot.com bust."
Financial Outlook ? Where Have they Been and Where are they Going?
You can get basic financial statements (income statements, balance sheets, etc.) for publicly listed firms easily and without cost. The Investor's section of MSN Money Central is a solid resource for gathering this information. For detailed stock performance data and news, try Bloomberg.
Don't feel overwhelmed with the numbers and statistics you'll see; just look to see how the company's stock is behaving in comparison with similar offerings (bloomberg.com will make these comparisons for you), and look to see if the company you are researching has been earning more or less money than it has in previous years.
If you are considering employment with a privately held company, your access to their financial information will be much more restricted. Consider e-mailing or writing to the office of the CFO or any similar official to request any information they can furnish to you. Often times, in anticipation of such requests, they prepare some basic materials to send out to interested parties. Remember, however, that these numbers are not certified like the ones you'll find in an actual annual report and may not tell the whole truth.
Identify the Industry
Even otherwise strong firms can be brought down by a sagging industry. After identifying the specific market segment the company that you are investigating is in, locate trade publications relating to this market and read up on its current state. If a company operates in multiple market segments, focus on the one associated with your particular job offer or potential job offer.
You'll be amazed; nearly every market segment you can image has its own industry newsletters, magazines and/or web sites.
Use a reliable search engine like Google to search on the industry. (Hoovers.com can help you identify the official name of any particular industry segment or sub-segment.)
You probably won't understand some of what you'll see in these publications, as the information is typically highly jargonistic and not geared towards the general public. That's okay! Just seek out the overall tone of the recent articles you'll find, and look for statistics and commentary on growth and economic outlook. Search too on job growth data, including hiring trends and layoffs. The U.S. Department of Labor site is a good place to turn here, in particular the Bureau of Labor Statistics section that offers up-to-date, industry specific data on employment trends by industry.
Chris Alfe is a staff writer for thingamajob.com. He has ten years of experience in staffing and human resources and currently resides in Baltimore, Maryland.
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