Libraries, especially larger business departments of public libraries, as well as your PC, are treasuries of information. Befriend those wonderful, resourceful people-reference librarians. They'll be happy to help you research specific companies or an entire industry, especially if you avoid their busiest hours: late afternoons and weekends. If you don't know the 4-digit Standard Industrial Classification (SIC) number which identifies your industry or field of economic activity, you can get that SIC number from the Standard Industrial Code Manual. Or ask the librarian. Once you know this number, you can compile a list of potential employers.
If you are looking for an industry overview, try the U.S. Industrial Outlook, published by the U.S. Department of Commerce, which provides forecasts for selected manufacturing and service industries. Standard and Poor's Industry Surveys, which are published quarterly and updated more frequently, may have more useful information.
For basic facts about public and privately held companies, try the massive Dun and Bradstreet directories. Standard and Poor's and Moody's directories provide information, including important financial data, on publicly held companies. National trade journals and directories, as well as professional association publications, are also valuable resources. Look for the special industry overview issues, which are usually published annually.
Additional information is available through the Wall Street Journal as well as local newspapers and business magazines. Ask the librarian for the indexes to these publications. If you haven't been keeping up with relevant news, now's the time to do that.
Tap into Online Information Services
Get acquainted with your library's online and CD-ROM database, as well as printed materials. Business InfoTrac is a terrific online system that contains information on 100,000 U.S. corporations, mostly privately held. You don't have to be a computer whiz to use this and, of course, you can always ask the librarian for help. Just type in the name of the company you're researching and you can get key facts about the organization as well as recent articles about the company. Abstracts or entire texts of those articles are available through Business InfoTrac.
InfoTrac's General Business File also provides basic facts about publicly held as well as some private companies. Financial information about certain corporations is also available through Invest ext on InfoTrac. Large publicly held corporations are easy to research. Call the company and ask for their annual report and other printed material. Annual reports, required of publicly held companies, contain loads of golden nuggets: names of officers, financial data, products, major accomplishments, and projections for the future. You can also request 10-K reports, which have some of the same information as the annual reports. These 10-K reports may also be available on CD-ROM or microfiche at your library, through the Internet, or various commercial databases. Smaller companies, which are generating so many new jobs, present more of a challenge. State and local directories, including your local chamber of commerce's membership directory, have the basic facts. You may also find smaller companies in Business InfoTrac and Dun and Bradstreet directories. Some of Dun's specialized, regional, and even national directories list quite a few smaller companies. For information about high-tech companies, try the multi volume Corporate Technology Directory, which also describes their online services.
Libraries and your PC are invaluable resources, but there are other creative ways to get the information you need.
Personal Resources
People can help fill in the inevitable gaps and make your search more interesting and fun. Some of your best resources are employees and former employees of the company you're researching. Through net working, which is described in the next chapter, you can probably get the names of several relevant people. Calling, meeting, and getting acquainted with these individuals can give you invaluable inside information about the organization, its corporate culture, as well as the hiring authority.
Lawyers, accountants, and bankers-especially those who serve the small business community-are excellent sources of information. They know which companies are expanding, the new directions they are taking, etc. Start with accountants, lawyers, and bankers you know-then net work with others.
The company's customers and suppliers are another resource. Let's say you are a public relations specialist with expertise in consumer products. You have identified a successful hair care products company as an ideal organization for you. Your own hairdresser or barber is a logical place for inquiries. Why not ask about the company, its products, quality of service, etc. Which products are most popular? Why? What kind of reputation does the company have? What about the competition? Customers and suppliers can also refer you to employees at the company that you could contact. Not everyone you know is as obvious a resource as your hairdresser for a hair care products company. The remarkable thing is that you never know who is. So why not set up a big tent and invite everyone in to be part of your exploration?
People, Not Organizations, Hire. Who needs it? People. Learning as much as possible about the individual(s) who makes hiring decisions is a key part of your research.
- Who is the hiring authority?
- What do you know about him?
- What's important to him?
- What does he look for when he hires?
- What would be a "knock-out" factor for him-something that would eliminate you from consideration?
- What problem could I help him solve?
- Who Is the Hiring Authority?
Determining who the hiring authority is may not be obvious. Risk managers don't always report to the VP for finance. They may be in the legal department. How can you find out? Simply call the company and ask. The receptionist may know, or you may be able to get the information from voice mail. By listening to the various options, you may not only get the name you want but learn more about how the organization is structured.
What about the Folks in Human Resources
Most job seekers make the mistake of contacting the human resources department to inquire about jobs. The conventional wisdom is that the people in this department know about all the openings in the company.
They may know about openings, but how can they know about emerging needs of decision makers that have not yet trickled down to their department? This happens frequently, as Charles, the industrial engineer we met.
Many human resources people feel they have a solemn duty to pull up the drawbridge to protect their company's executives from job seekers. Even when they're trying to fill a position, they might legitimately screen you out because of specific requirements on the job description. The decision maker, on the other hand, could be persuaded to hire you because of your compensating assets.
Example: When an additional counselor was needed for my staff, I thought that person should be at least 35 years old in order to relate well to our clients who, at that time, were all over 40. Happily, a very mature 26-year-old social worker convinced me that she was perfect for the position. She was-and became a tremendous asset to our program. But her age probably would have eliminated her from consideration if the request had been handled by a personnel department.
Increasingly, companies are hedging their bets and involving several people, including those who would be your subordinates, in the selection process. Find out up front who will be involved-and when. Simply ask: Are you the sole decision maker, or is someone else involved in making decisions of this kind. The more you know in advance, the better you can prepare.
"Having an opportunity to learn something about the company and especially the manager of this department was probably the reason I was brought on," confides David, an account executive with LCI, International. David knew an LCI employee from a coed Softball team he had organized years before. The two met before David's interview and he "was able to get some really valuable insights about the company and the person who would be my manager. When I interviewed, we hit it off right away.
We were very comfortable with each other and felt we would work well together. That proved to be the case. I have been here almost 3 years and it has been a very good experience."
