Researching Prospective Employers

A key part of your Marketing Plan will be identifying appropriate industries and organizations you think would be a good fit for you . . . some of which could hold the potential of unadvertised job openings. It is important to begin researching prospective employers early in your Executive Job Search process so that you can appropriately “target” versions of your Resume as well as the content and language in your communications.

Use Library Databases and Reference Directories.

The first place to start researching prospective employers is your local library. Depending on where you live, your city and or county will provide a library and you can usually get a library card for little or no money. Become familiar with the business research resources that are provided and whether or not some of them can be accessed on line from home. Many libraries, for example, will allow cardholders to search the ResearchUSA database which lists information on US-based companies according to their SIC code.

Every Type of Business Has A Standard Industrial Classification (S.I.C.).

If you aren’t familiar with the Standard Industry Classification (SIC) system, you need to learn about it. Every type of business has a unique, multi-digit code that classifies it within the ten major categories. (The NAIC System is the newer version that covers the North American Industry Classification system which will eventually be the one in use from Canada to Mexico. While there are a number of areas where the two systems agree, there are specific areas that differ. ) Assemble a list of 200 companies.

Start With a List of 200 Companies.

You can initiate a search for all companies of a given size (annual sales volume, number of employees, headquarters location, etc.) in specific cities or Zip Codes. You can then search on other items including news stories, management names, public vs. private status, etc. We suggest that you start researching prospective employers with a list of 200 or so companies and reduce the list to the 50 most likely target organizations. As you work through this refined list, you will want to replace those that get removed as a result of further research or contact.

Learn to Use Key Directories.

In addition, there are purchasing directories, chambers of commerce directories, advertiser directories (The “Red Book” and Standard Rate and Data Service) and specialized industry publications. One set of directories that will be especially helpful will be the National Trade and Professional Associations & the State and Regional Associations directories. These list thousands of organizations by industry, along with the officers, publications, meeting and trade show locations & dates, etc. See Professional Associations in the “Networking” section for how to utilize these directories to make contacts and gain referrals with entree into companies.

Details Often Make The Difference in Breaking Through to Companies.

For all but those precious few people who love to dabble in detail and minutiae, the research is not as exciting as the actual sales efforts that will result. The extent of your research will be determined by the type/s of industry you are pursuing, your geographic location and the resources that are available to you. However, the more thoroughly you research a target company, its officers, products and competitors, the more credibility you will have when establishing contact with the organization.

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SBI!