On Launching Your Career: Researching Prospective Employers

Choosing where you spent up to a third of your life isn’t just a career decision – it’s a life decision.

As you embark on your professional journey, remember this profound truth: about one-third of your life will be spent at work. This significant portion not only shapes your career but also dramatically affects every other aspect of your life. Choosing where you spend these hours is not just a career decision; it's a life decision.

Why Research a Company?

Before jumping into the research phase, it’s important to understand why this effort is worth the work. Researching a company helps you make informed decisions concerning your engagement and happiness at work, mitigates the risk of potential mismatches with your values and vision for your career, and increases the likelihood of long-term career satisfaction and success.

Research will also aid your interview preparation – with plenty of background information, you will demonstrate genuine enthusiasm for the company with insightful questions, showcasing your preparation and commitment to their organization. This research will also come in handy once you receive an offer, providing you valuable leverage to negotiate your salary and benefits to reflect your values and align with common practices in the industry.

Six Methods to Full Understanding of a Company

Research is for your understanding of how this company fits with your values, aspirations, and career path as well as how it creates and delivers value to the market. While researching a company, curiosity is your greatest asset. Asking smart questions demonstrates your keen interest – a quality highly valued by hiring managers.

There are six methodologies to consider when researching a company; we’ll walk through each of them in detail below:

Research Method #1: Decode the Roots

Decoding a company's roots involves a deep dive into its history, core values, leadership, and the foundational principles that guide its business practices. This process is essential to understand the company's ethos, direction, and the kind of environment you might be stepping into. Here’s how you can effectively decode a company’s roots:

Research the Founders and Key Leaders

A company run by people that started their careers as accountants or in finance is run differently than a company run people with backgrounds in sales and marketing or engineering. Make sure that you understand the background discipline of the senior leaders.

• Look into the background of the company’s founders and current leadership team.

• Explore their career paths, achievements, and leadership styles using professional networks like LinkedIn. Understand their vision for the company and how it has shaped the organization's direction.

• Assess how the company’s values are reflected in leadership actions, decisions, and policies.

Understand the Company's History

Historical perspective can provide insight into the company's resilience and adaptability:

• Dive into how the company was founded and its journey over the years.

• Note the significant milestones, challenges faced, and how they were overcome.

Analyze the Company's Mission and Values

A company’s mission explains why they exist in the world; their values explain what principles are important to achieving their mission. It’s important to ensure alignment between a company’s mission and values – and your own:

• Read the company's mission statement, core values, and ethical guidelines, usually available on their website.

• Assess how these values are reflected outwardly to the world.

Review Public and Media Perception

Perception of a company reflects the mission, values, and communication style to the world:

• Research how the company is viewed online, in the media and in the public.

• Look for news articles, interviews, and press releases to understand the company's public relations and reputation.

Outline Core Product and Service Offerings

The evolution of products and services created or available by a company can reveal how the company responds to market changes and customer needs, and its focus on innovation:

• Study the evolution of the company’s products or services.

• Decipher the key product or service lines offered by the company and why those are important to the overall health and vitality of the organization.

By decoding a company's roots, you gain the opportunity to evaluate the alignment between the organization and your personal and professional aspirations. This deeper understanding is crucial in making an informed decision about your future employment.

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Research Method #2: Analyze Market Position

Understanding a company's market position gives you a strategic edge. This knowledge is not just for an interview; it's for you to gauge the company's resilience and innovation potential.

Applying the art of competitor analysis involves systematically studying companies that compete in the same market or industry as your prospective employer. This research provides context about the company's strategic positioning, market challenges, and potential areas for growth or improvement. Here’s how you can effectively conduct a competitor analysis:

Identify Sector and Industry

Sectors and Industries are organized to categorize and classify businesses and economic activities based on their primary functions or products. Understanding this arrangement can be helpful in analyzing economic trends, investment opportunities, and for conducting market research. Here's a breakdown of how industries and sectors are typically arranged:

Sectors

Sectors represent the largest and most general classification of economic activities. They are broad categories that group industries engaged in similar types of economic activities. Commonly, the economy is divided into three key sectors:

·      Primary Sector: Involves the extraction and production of raw materials, such as agriculture, mining, fishing, and forestry.

·      Secondary Sector: Includes industries involved in processing, transforming, and manufacturing goods, such as construction, manufacturing, and production industries.

·      Tertiary Sector: Encompasses service-based activities, including retail, entertainment, financial services, health care, and education.

Some models also include the Quaternary Sector (knowledge-based services like information technology, research, and development) and the Quinary Sector (services like government, non-profits, education, and healthcare).

Industries

Within each sector, there are more specific groupings known as industries. An industry is a group of companies that produce similar products or services. For example, the financial services industry includes banks, insurance companies, and investment firms.

Globally, industries are categorized using standardized classification systems such as:

North American Industry Classification System (NAICS): Used in the United States, Canada, and Mexico, this system categorizes businesses into industries based on the similarity of their production processes.

Standard Industrial Classification (SIC): An older system that classifies industries by a four-digit code.

International Standard Industrial Classification (ISIC): Maintained by the United Nations, this system is used to compare economic data across countries.

Sub-Industries or Sub-Sectors

Within an industry, there can be further divisions into sub-industries or sub-sectors, which represent even more specialized areas. For example, in the technology industry, there are sub-industries like software development, hardware manufacturing, and IT services.

Market Segments

Market segments are subsets of industries, usually defined by consumer needs, preferences, or other characteristics. Companies often use market segmentation to target specific groups of consumers within a larger industry. Segmentation is important for:

Investment and Analysis: Investors use industry and sector classifications to diversify portfolios and analyze market trends.

Business Strategy: Businesses use this classification to identify competitors, understand market dynamics, and develop strategic plans.

Economic Policy: Governments and policymakers use these classifications to develop economic policies, monitor economic performance, and provide statistical data.

Understanding the arrangement of industries and sectors provides a framework for analyzing the economy, understanding business landscapes, and making informed decisions whether in business, investment, or policy-making.

Identify Key Competitors

Start by identifying the main competitors of the company you're interested in. These could be direct competitors offering similar products or services, or indirect competitors who address the same customer needs in different ways. Use industry reports, market analyses, and even the company’s own communications to identify these competitors.

Analyze Competitors’ Market Position and Strategy

Investigate how these competitors are positioned in the market. Look into their market strategies, including product offerings, pricing models, marketing tactics, and customer engagement approaches.

Compare Product and Service Offerings

Compare the products or services of the competitors with those of your prospective employer. Look for differences in features, quality, pricing, and customer feedback.

Review Financial Health and Performance

If the competitors are publicly traded companies, review their financial statements and annual reports for insights into their financial health and performance trends. For private companies, search for business analyses or news articles that may provide financial insights.

Understand Their Branding and Reputation

Analyze how competitors position themselves in the market. What messages are they conveying? How do they differentiate themselves? Check customer reviews and social media to gauge their reputation and customer satisfaction levels.

Study Their Innovations and Industry Contributions

Look at how these companies innovate, whether in terms of technology, customer experience, or business models. Pay attention to any industry awards, patents, or notable contributions they’ve made.

Market analysis not only aids in understanding the external environment in which your prospective employer operates but also provides a broader perspective on the industry. This knowledge can be invaluable in interviews and will help you make a more informed decision about your potential engagement with the company.

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Research Method #3: Derive Industry Insights & Trends

Delving into economic and industry analysis prepares you for the future. Analyze reports from Bloomberg or McKinsey to understand industry trends and economic challenges. This knowledge helps you anticipate the future of the industry and your role in it.

Researching economic insights and industry trends involves a comprehensive approach to understanding the broader market dynamics, financial health, and future prospects of an industry and a specific company within that industry. Here’s how to go about it:

Access Industry Reports and Market Analyses

• Utilize resources like Gartner, Forrester, IBISWorld, and Statista to access detailed industry reports and market analyses. These reports provide valuable insights into market size, growth trends, and industry challenges.

• For public companies, you can also look at their annual and quarterly financial reports for detailed economic information.

Follow Financial News and Publications

• Regularly read financial news platforms like Bloomberg, Reuters, Wall Street Journal, and the Financial Times to stay updated on economic trends and industry news.

• These sources can provide real-time updates on market movements, mergers and acquisitions, and regulatory changes that could impact the industry.

Analyze Analysts’ Reports and Forecasts

• Look for reports from financial analysts, which can be found on investment research platforms or financial news websites. These reports often provide insights into the company's financial performance, stock ratings, and future prospects.

• Analysts’ conference calls and presentations can also offer in-depth insights into a company’s performance and industry trends.

Engage with Trade Publications and Journals

• Industry-specific publications and journals often contain detailed analyses of current trends, challenges, and innovations in the industry.

• These can include trade magazines, academic journals, and industry association publications.

Participate in Industry Forums and Webinars

• Attend industry conferences, webinars, and forums, either in-person or online. These events are platforms for expert discussions, trend analyses, and networking with industry professionals.

• Keep an eye out for keynote speeches, panel discussions, and networking sessions for insights.

Use Economic Databases and Government Reports

• Economic databases like the World Bank, International Monetary Fund (IMF), and national statistical offices provide macroeconomic data and reports that can influence industry trends.

• Government and regulatory body reports can also provide insights into policies affecting the industry.

Consult with Industry Experts and Academics

• Reach out to industry experts, consultants, or academic professionals for their insights into industry trends and economic outlooks. Platforms like LinkedIn can be useful for connecting with these professionals.

• Participating in relevant online forums and discussion groups can also provide access to expert opinions and debates.

Monitor Advancements and Innovations

• Stay informed about the latest developments and innovations within the industry, as these can be major drivers of economic and market trends.

• Follow tech news and attend tech-focused industry events to understand the impact of technology on the industry.

Conducting thorough research on economic insights and industry trends will not only help you understand the current state and future prospects of your potential employer but also provide you with a deeper understanding of the industry as a whole. This knowledge is crucial for making informed career decisions and for meaningful conversations during interviews.

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Research Method #4: Unveil Company Culture

The true essence of a company often lies in its culture. Utilize social media platforms like LinkedIn, Instagram, and Twitter with search terms like “Life at [Company Name]”, and hashtags such as #workatXXX, #lifeatXXX. These platforms offer unscripted glimpses into the daily life and values of a company.

Unveiling a company's culture requires a multifaceted approach, as company culture encompasses the organization's values, norms, behaviors, and practices. Here’s a detailed strategy to help you uncover and understand the culture of a potential employer:

Review the Company Website and Official Communications

• Start with the company’s website, particularly sections like “About Us,” “Our Values,” or “Careers.” These often contain explicit statements about the company’s culture and values.

• Look at the tone and language used in their official communications, including press releases, blogs, and newsletters. This can offer insights into the company’s personality and priorities.

Examine Social Media and Digital Presence

• Follow the company on platforms like LinkedIn, Instagram, Twitter, and Facebook. The content they post and the way they engage with their audience can reveal aspects of their culture.

• Use specific search terms related to the company, like “Life at [Company Name],” “#workat[Company Name],” and “#lifeat[Company Name].” These can lead to posts by employees or the company that showcase day-to-day work life.

Network with Current and Former Employees

• If possible, connect with current and former employees of the company.

• Conduct informational interviews where you ask specific questions about the work environment, management style, and employee relations.

Attend Company Events or Webinars

• Participating in public events, webinars, or open houses hosted by the company can provide a firsthand experience of the company’s culture.

• Observe how employees interact with each other and with outsiders, and the overall atmosphere of these events.

Observe Physical Workspaces

• If you have the opportunity to visit the company’s office or take a virtual tour online, pay attention to the layout and design of the workspace. Is it open and collaborative, or more traditional and segmented?

• The physical workspace can reflect the company’s values and approach to work.

Look for Community Involvement and CSR Initiatives

• Research the company’s involvement in community service and Corporate Social Responsibility (CSR) initiatives. This can indicate their commitment to social and environmental issues.

• Companies that value CSR often have a culture of inclusivity and responsibility.

Consider Work-Life Balance and Employee Benefits

• Research the company’s policies on work-life balance, flexibility, and employee benefits. This is often a reflection of how much the company values its employees’ well-being.

• Look for information on vacation policies, remote work options, and employee wellness programs.

Unveiling a company’s culture is key to understanding whether it’s the right fit for you. A company’s culture can significantly affect your job satisfaction and growth within the organization. Take the time to thoroughly research and reflect on these aspects to make a well-informed decision about your future workplace.

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Research Method #5: Get the Inside Scoop

Websites like Glassdoor, Fairygodboss, and InHerSight offer candid employee reviews. Use these platforms to hear real stories and experiences. Be open to the unexpected – sometimes the most honest insights can redefine your expectations.

Finding and interpreting employee reviews is a crucial step in getting an inside look at a company's work environment, culture, and management style. These reviews can provide candid insights from current and former employees, offering a realistic perspective of what it's like to work at a company. Here's how to effectively gather and analyze employee reviews:

Use Employee Review Websites

Platforms like Glassdoor, Blind, Vault, Indeed, FairyGodBoss, InHerSight, and Comparably are popular for hosting employee reviews. They allow current and former employees to share their experiences regarding work environment, management, compensation, and more.

Analyze Reviews Critically

When reading reviews, look for patterns and common themes rather than focusing on individual outlier comments. Pay attention to both positive and negative reviews to get a balanced view. Be mindful that extremely positive or negative reviews might be biased or unrepresentative

Check the Dates of Reviews

Look at the dates of the reviews to ensure the information is current. A company’s culture and policies can change over time, so recent reviews are more relevant.

Read Responses from Employers

Many platforms allow employers to respond to reviews. Pay attention to these responses as they can provide insights into how the company handles criticism and feedback.

Sort Reviews by Job Title or Department

On some review sites, you can filter reviews by specific job titles, departments, or locations. This feature can provide more targeted insights relevant to the position or area you are interested in.

Use Social Media and Professional Networks

LinkedIn and other professional networks can be useful for informal reviews and opinions. You can reach out to current or past employees for informational interviews. Be respectful and professional when reaching out, and prepare specific questions about their experiences at the company.

Participate in Online Forums and Discussion Groups

Online forums and discussion groups related to your industry or profession can sometimes provide candid discussions about companies. Platforms like Reddit or industry-specific forums can have threads discussing life at various companies.

Compare Reviews Across Companies in the Same Industry

Comparing reviews of different companies in the same industry can provide context and help you understand industry-specific challenges and norms.

Remember, while employee reviews can be incredibly informative, they represent individual experiences and opinions. It's important to use them as one of many sources in your research to get a well-rounded understanding of the company.

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Research Method #6: Review The Company’s Narrative

A company's self-presentation is its narrative to the world. As you explore how a company portrays itself, let your genuine enthusiasm and curiosity shine through. Don’t hide behind a façade of stiff professionalism; your authenticity is your strength.

Discovering a company's self-presentation, or the way it chooses to narrate its own story, is an essential aspect of understanding its brand, values, and priorities. Here's a comprehensive approach to unraveling a company's self-presentation:

Explore the Company Website

The company website is the most direct representation of its official narrative. Pay close attention to the ‘About Us’ page, mission statement, and company history. Look at the tone, language, and imagery used throughout the site. This can provide clues about the company’s values and how it wants to be perceived.

Review Official Social Media Accounts

Follow the company on LinkedIn, Twitter, Facebook, Instagram, and other relevant social media platforms. Observe the type of content shared, the frequency of posts, and the way the company interacts with its audience. Social media often reflects a more dynamic and current view of the company's activities and priorities.

Read Press Releases and Newsletters

Press releases offer insights into what the company deems newsworthy and how it wants to be seen in the public eye. Company newsletters, if available, can provide a glimpse into internal happenings, achievements, and how the company communicates with its employees and stakeholders.

Analyze Marketing Materials

Examine the company’s marketing materials, such as brochures, advertisements, and promotional videos. These materials are crafted to convey specific messages and values. Pay attention to the themes, stories, and customer personas that are highlighted.

Seek Out Customer Reviews and Testimonials

Customer reviews and testimonials can offer insights into how the company's products or services are perceived and can sometimes reveal aspects of the company's ethics and customer service philosophy.

By thoroughly examining these various facets, you can piece together a comprehensive picture of how a company chooses to present itself to the world. This understanding is crucial in determining whether the company’s public persona aligns with your personal values and professional goals.

Conclusion: Reflect, Revisit, Realize, and Prepare

Take Time to Reflect

Remember, researching a company is not a one-day task. Dedicate a few hours to research, take a day to reflect on what you’ve learned, and then revisit with fresh eyes. This process helps you build a comprehensive understanding and make a decision that aligns with both your career aspirations and personal values.

Reflect on Your Findings

After diving into each section of research – from understanding the company’s roots to analyzing its public narrative – take a step back. Reflect on what you’ve learned. How does this information align with your career goals and personal values?

Consider how each aspect of your research – the company culture, market position, employee experiences, and more – makes you feel. Can you see yourself thriving in such an environment?

Revisit with Fresh Perspectives

Researching a company is not a one-time activity. It’s an on-going process that benefits from revisiting. With each return, you might discover new insights or understand previous information in a different light.

The business world is dynamic. Keep an eye on any recent developments or changes within the company or industry, as these could influence your decision.

Realize Your Potential and Possibilities

This comprehensive research process is not just about evaluating a potential employer; it's also about understanding where you fit in the professional world. It's a journey that can help you realize your own potential and the possibilities that await you.

Remember that each company has its unique strengths and challenges. What matters most is finding a place where your skills, values, and aspirations align with the company’s environment and goals.

Our culminating thought from Maya Angelou:

“Do the best you can until you know better. Then when you know better, do better.”

The effort you put into researching a potential employer is a testament to your commitment to not just doing better, but also to being better – as a professional and as an individual.

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