HOW TO TARGET EMPLOYERS FOR JOB SEARCH

Targeting companies of special interest to you is the most effective strategy for job search. This is particularly true when you are looking for a senior level position. This strategy begins with research into your target industry, and leads to the identification of employers that interest you based on size, growth potential, location and other factors important to you.

You will need to regularly update your target list based on research and your contacts with these companies. This process will also yield information about the names and titles of persons you need to approach in each company. You can develop a list of companies for targeting your job search by going to the online directories or the business directories available in public libraries. 

Once you have a list of potential employers, you can research them by going to the employer websites, reading company annual reports, and searching for profiles of employers such as those available at www.corporateinformation.com and www.forbes.com. Some of the online business directories also include links to company websites. 

Another element in this research is to go to a search engine such as www.google.com and find additional information about the company’s products, customers, and senior officers, which will enable you to network your way into those companies, or make direct contact with hiring managers.

Also, you may want to research your target companies on www.glassdoor.com. This website collects company reviews and salary information from employees of large companies and displays that information anonymously. It also posts employee reviews of the management and culture of the companies they worked for. This can give you an inside look at how a company operates, how it treats employees, and how it approaches compensation.

Targeting companies is the best job search strategy, but it requires a clear understanding of your own skills and interests, and the ability to conduct research of possible employers. It requires deciding what kind of companies to research, what to look for, and how to prioritize the companies you have picked.

When you have researched your target companies, you will know their operations, and the type of opportunities available with them that match your skills and experiences. You should send a personalized letter to the hiring manager at each company explaining how your background and experiences match the company’s requirements, and attach a copy of your resume. You should state in your letter when you will call the hiring manager to set up an appointment for interview. 

In addition to approaching target companies by mail, you could call the hiring manager on the phone, and try to get an appointment for a face-to-face interview. Remember to prepare a written outline of what you are going to say before you make that phone call. You should be able to set up some job interviews using this approach. 

While large companies remain excellent places to work, many small to medium size companies are offering wonderful career opportunities.

Small companies give you the opportunity to be a big fish in a small pond. You can have broader responsibility and more impact on the company’s operation in a short time. When preparing a list of your target companies, do not limit yourself to just large corporations. There is often big opportunity in small companies. 

   Narinder Mehta (@NarinderM) was President of an executive search firm for ten years. He is the author of three books. His recent book Ace Your Job Search in 5 Steps: Powerful Techniques for Building a Successful Career reveals a step-by-step pathway for finding a dream job. Connect on LinkedIn: www.linkedin.com/in/NarinderMehta.

HOW TO NEGOTIATE WHEN YOU GET A JOB OFFER

It feels wonderful to get a job offer. This is what you were striving for when you started your job search.  But do not rush to say “yes”.

When you receive a job offer, the roles are suddenly reversed. Now you have become the buyer. The employer is now trying to sell you on the career opportunity, salary, and benefits. They definitely want you, and in most cases, would like you to join as soon as possible. You have to decide whether you want them, and if so, what changes are needed in the job offer before you make a commitment.

Is this the right job?

Here are some questions you should try to answer to determine if this is the right job.

•       Are you sure this job is a good match with your skills?

•       Will this job put you on the career path you want?

•       Do you feel you will have a good working relationship with your boss?

•       What is this company’s reputation in the industry?

•       Do you have a clear understanding of the job description?

•       Are you convinced that you will succeed in this job?

•       How does your family feel about this job?

•       Will you enjoy working with the people you met during the interview process?

When you receive a job offer, you have to make a decision that will have a long-range impact on your career path. Fortunately, most companies give you a few days to make your decision. You have probably determined, before a job offer is presented to you, that the company is a good place to work and you are satisfied with the position and advancement opportunities. If you have any concerns about the company or the position, this is the time to take another look at what you may be getting into. No amount of salary or benefits will make up for a bad career choice. Assuming you are satisfied with the company and the position, take a close look at the financial aspects.

Job offers are subject to negotiation. You can negotiate the job responsibilities, base salary, bonuses, relocation package, benefits, stock compensation, severance terms and anything else included in the job offer. This is an opportunity for you to define what you want and what you can get, and then negotiate an employment package acceptable to you.
Timing is a critical factor in negotiating. The ideal time to negotiate is when you have received a verbal offer from the employer, or through an executive search firm. Prepare a logical explanation for every change you want to request. Remember, negotiating is a two-way process, where both you and the employer try to reach an agreement that will be beneficial to both sides.
Preparation is the key to good negotiations
You have to research, consider alternatives, plan and effectively communicate with the employer. You have to know how far you can go, and when to pull back. When the job being offered to you is hard to fill, the employer will be more accommodating. If other candidates are available to fill the position, the employer may be less inclined to negotiate the terms of the job offer. Smaller companies are more willing to negotiate as compared to larger organizations with standard policies and procedures.
There is a big difference in salaries for the same jobs in different parts of the country. You should look up cost of living data when researching salaries.
Here are some websites for your research.

www.jobstar.org

This is a wonderful resource for help on salary information. It helps you connect to over 300 free online salary surveys. The surveys come from several kinds of sources including: General periodicals; local newspapers; Trade and professional journals; Trade and professional associations; and Recruiters or employment agencies. This website also offers helpful links to other websites for advice on salary negotiation strategies.

www.salary.com

This is a leading provider of on-demand human resources software to help businesses and individuals manage pay and performance, and achieve greater results in the workplace. The website includes quick links to compensation-related information: Salary Wizard; Benefits Calculator; Executive Pay Wizard; Cost of Living Calculator; Premium Salary Report; Salary Wizard Canada; Performance Self-Test; and Salary Negotiation Advice.

www.glassdoor.com

This site can be a valuable resource for determining whether you want to accept a position and how to negotiate the job offer. This is a leading site where current employees and former employees can anonymously review companies and their management and leave salary information.

www.salaryexpert.com

This website was launched in 2000 to provide reports on salaries and cost of living. Tools available on this website help people make informed decisions when planning careers and searching for jobs. Following career tools are available: Search Jobs by Salary; Cost of Living Calculator; Education Planning Center; Job Search; Career Salary Potential Report; and Student Cost of Living Report.

www.payscale.com

This site is a market leader in global online compensation data. It has one of the largest databases of online employee salary data in the world. This website offers salary reports based on your job title, location, education, skills and experience.

www.bls.gov/oco

The Occupational Outlook Handbook (OOH) issued by the Bureau of Labor Statistics is revised every two years. It is a nationally recognized source of career information for hundreds of different types of jobs. For specific occupations, it tells you: the training and education needed; earnings; expected job prospects; what workers do on the job; and working conditions. In addition, it gives you job search tips, and links to job market in each state. Occupational Outlook Handbook is available online, and you can use the Search box to find out about a specific occupation or topic. Also you can go to the A-Z Index for a listing of all occupations in alphabetical order.

JOB OFFER GUIDELINES

The following guidelines should help you in job offer negotiations.

•       Do not immediately accept what you are offered: Always ask for some time to consider an offer. Most employers are willing to give you up a few days to consider and respond to a job offer. It is a mistake to jump at an offer, and accept it right away. Talk to your family members and some professionals to determine whether it is a fair offer before you accept it. Accepting something less than what you are worth will not only give you less income now, but also set you back in terms of future income as raises are a percentage of what you are earning. Be wary of companies that won’t give you at least a couple of days to make a decision.

•       Do not reject the offer quickly: Some candidates make the mistake of rejecting an offer too quickly because the salary offered is below their expectations. Always look at the total package rather than just the salary component. Some companies offer larger bonuses, stock options, and benefits. You may still find that the total package does not meet your expectations, but do take the time to review it carefully and see if you can negotiate some aspects of it to make it acceptable.

•       Do not tell the employer what you will accept: It is a mistake for a candidate to bring up the subject of salary during job interviews. You should leave it to the employer to initiate this discussion. Employers may ask for your salary history, and you should give accurate information. They may also ask for your salary expectation, and you should give that in a broad range pointing out that it would depend upon the total package such as bonus and benefits.

•       Do not tell the employer what you need for living expenses: You will get what you are worth in the eyes of the employer, and nothing more. You have to focus on the value you bring to the employer. Never tell an employer the amount of money you need for living expenses. That has no relevance to the employer.

•       Know your market value: Many candidates start thinking about their market value only after getting a job offer. You should do that before you interview for jobs. There are many resources available on the Internet such as www.salary.com  and www.salaryexpert.com. Also, you should talk to some professionals in the employment industry. They can usually tell the salary range you can expect based on your education and experience level.

•       Focus on one or two changes in the offer: While employers may be willing to make one or two changes in the offer, most of them will not negotiate the entire package. You should focus on one or two elements that are most critical to you. If the salary is too low, ask for a change. If the employer will not change the salary, try to get more in terms of bonus, stock options or benefits.

•       Never burn your bridges behind you: Negotiating a job offer is the beginning of the working relationship with an employer, and it is essential to conduct the negotiation in a professional and respectful manner even if you and the employer do not see eye to eye. If you decide to decline an offer, do so in a professional way so that there may be a future opportunity for you to connect with this employer.

•       Always get the job offer in writing: Any good employer would be willing to state the offer in writing. If an employer is not willing to do so, re-consider whether you want to work at that company. Whatever special arrangements you are able to negotiate should be documented in writing. If you are able to get a special bonus arrangement, additional vacation time, earlier salary review, get it all in writing. It is possible that the person who negotiated special arrangements with you could move on to another assignment. You want to make sure that you are able to get whatever was agreed. Sometimes you may just have to spell out the special arrangements in a letter to the hiring manager, get the manager to acknowledge it and put it in your personnel file.

•       Evaluate the benefits package: Employers offer a wide variety of benefits to attract and retain employees. You should consider the benefits package before accepting or declining a job offer. The benefits offered by employers may include medical insurance, dental insurance, eye care insurance, life insurance, accidental death insurance, disability insurance, business travel insurance, group legal plans, vacation, holidays, sick/personal days, retirement plans, profit sharing, stock options, tuition reimbursement, membership in health clubs, on-site child care facilities, parking reimbursement, transportation to and from work, company car, and mobile phone.

•       Understand the entire offer: Make sure you understand all aspects of the job offer, including salary, bonus, stock option plan, non-competition agreement, performance review plan, paid time off policy, and benefits package. If you don’t understand any aspect of the job offer, don’t hesitate to ask the employer. Your first day on the job is not the time to find out about your compensation package and the company policies.

•       Review all employment documents: Ask for copies of all documents you will be required to sign upon accepting the position. This will often include an employment letter, a non-disclosure agreement, and may include a non-compete agreement. Review these documents carefully and seek the assistance of an attorney if there are terms of employment you do not understand. These agreements will not only govern during your employment, but may define certain obligations for a period of time after you terminate employment.

Money is not the most important thing in a new job. The financial package should be reviewed in terms of other considerations such as job responsibilities and growth opportunities.

    Narinder Mehta (@Narinderm) was President of an executive search firm for ten years. He is the author of three books on job search and career development. His recent book Ace Your Job Search in Five Steps (June 2016) reveals a step-by-step pathway for finding a dream job. He welcomes all requests to connect on LinkedIn: www.linkedin.com/in/NarinderMehta.

     

HOW TO TARGET COMPANIES FOR JOB SEARCH

Targeting companies of special interest to you is the most effective strategy for job search. This is particularly true when you are looking for a senior level position.

This strategy begins with research into your target industry, and leads to the identification of companies that interest you based on size, growth potential, location and other factors important to you.

You will need to regularly update your target list based on research and your contacts with these companies. This process will also yield information about the names and titles of persons you need to approach in each company. You can find the list of companies by going to the yellow pages of the local phone directories, business directories available in public libraries, as well as online directories. Once you have a list of potential employers, you can research them by going to the employer websites, reading employer’s annual reports, and searching for outside profiles of employers such as those available at www.hoovers.com. Some of the online business directories also include links to company websites. Another element in this research is to go to a search engine such as www.google.com  and find additional information about the company’s products, customers, and senior officers, which will enable you to network your way into those companies, or make direct contact with hiring managers. This approach requires a clear understanding of your skills and interests, and the ability to conduct extensive research of possible employers. It requires deciding what kind of companies to research, what to look for, and how to prioritize the companies you have picked.

When you have researched your target companies, you will know their operations, and the type of opportunities available with them that match your skills and experiences. You should send a personalized letter to the hiring manager at each company explaining how your background and experiences match the company’s requirements, and attach a copy of your resume. You should state in your letter when you will call the hiring manager to set up an appointment for interview. In addition to approaching target companies by mail, you could call the hiring manager on the phone, briefly describe your qualifications and job interest, and try to get an appointment for a face-to-face interview. Remember to prepare a written outline of what you are going to say before you make that phone call. You should be able to set up some job interviews using this approach. Another possible approach is to go to the employer location, and try to meet with the hiring manager without an appointment. If you are not able to see the hiring manager, try to get a date and time when you could come back for an interview. If you are told there are no job openings, express your interest in future vacancies, and still try to get an interview. A personal visit to the job location can help you to establish contacts. Also, this is an opportunity to pick up some literature about the employer that could help you when you come back for an interview.

While large companies remain excellent places to work, many small to medium size companies are offering wonderful career opportunities.

Small companies give you the opportunity to be a big fish in a small pond. You can have broader responsibility and more impact on the company’s operation in a short time. When preparing a list of your target companies, do not limit yourself to just large corporations. There is often big opportunity in small companies. If you are planning to target small companies, you can often find opportunities by contacting venture capital firms, private equity firms, small business services, and corporate attorneys who maintain a roster of small to medium sized clients. By going to people who work closely with smaller companies, you can often get a warm introduction into several companies at once. Many firms that work with small and medium businesses are happy to make introductions to senior management at their client companies because it demonstrates additional value that they provide to the small and medium business owner.

COVER LETTER TIPS

Cover letter is an opportunity for you to differentiate yourself from other candidates. You can do so by highlighting how your skills and experiences will benefit the employer. A good cover letter will persuade the employer to call you for an interview.  

Here are some tips for preparing your cover letters.

• Address the letter to a person: Your letter will be far more effective if it is addressed by name to the person doing the hiring. You should devote the needed time and effort to find out the name and title of the hiring manager or the recruiting manager. If this information is not included in the job posting, you can often find it on the Internet or by calling the company’s main office. Once you have this information, you should use a formal salutation such as Dr., Mr., or Ms. to address your cover letter. You should not begin a cover letter with Dear Sir or Madam, or address it To Whom It May Concern. The use of generic salutations in cover letters shows lack of real interest in the opportunity.
• Mention prior contact: When you are following up on a phone conversation or a prior meeting, always mention that at the beginning of your cover letter to remind the reader. 
• Never use a form letter: Recruiters can quickly tell the difference between a form letter and the one designed specifically to meet the requirements of a job opening. Resumes attached to form letters are often ignored by recruiters. When you are really interested in the job opening, take the time to prepare a cover letter that highlights your skills and experiences as they are related to the job requirements.   
• Keep it short: A cover letter should not be more than one page. It should be organized in just a few paragraphs to highlight your suitability for the job opening. Do not repeat what is already stated in the resume. A cover letter is intended to spark the reader’s interest to read your resume and should offer something more than what is contained in the resume. 
• Research the company: The quality of your cover letter will depend on how much you know about the company. You should visit the company’s website and review trade publications to find out about the company’s mission, values, history, current customers and operating results. This information will also help you when you interview with the company.   
• Explain how you meet the job requirements: You need to highlight your understanding of the job requirements and how your skills and experiences match those requirements. You should include examples of your accomplishments in similar roles in prior positions. 
• State the next step: Remember to state what you plan to do as a follow up to sending the cover letter and resume. If it is your intention to call the employer in a week to request an interview, you should state that in the letter. And, make it a point to put that on your calendar and then do it.
• Letter should appear professional: The letter should include your name and contact information as well as the name, title, company name and full address of the hiring manager. The letter should appear attractive, and make sure there are no typographical or grammatical errors. You should use a spell checker. In addition, proof-read several times and have someone else proof-read it for you. This is your first impression to the hiring company, and you certainly want to make it a good impression.  

The quality of the cover letter often determines whether or not it opens the door for an interview. You need to devote as much attention to preparing the cover letters as you do to preparing your resume. A cover letter is what the recruiter will see even before glancing at your resume. It is the first impression of a candidate to a prospective employer. If this impression is not favorable, the resume is likely to be discarded.

Your cover letter should be designed specifically for each position for which you are applying.  It is a mistake to design a form letter and include it with your resume each time you send it. A well prepared cover letter will generally pave the way for an interview.

Effective cover letters communicate the reasons for your interest in a position, and highlight your skills and experiences which fit the job requirements.

Each cover letter must be tailor-made for each position in which you are interested. You should carefully review the position requirements stated in the job posting. You should write down your relevant qualifications next to each requirement. Your cover letter is essentially a summary of how your skills and experiences fit the job requirements. If you possess the needed qualifications, and you are able to communicate that in your cover letter, it is probable that you will be called for an interview.  

HOW TO CONTACT HEADHUNTERS

Executive recruiters or headhunters as they are more commonly known, work from outside the hiring company to attract management talent.

Headhunters advertise jobs, interview candidates, and present suitable candidates for final decision to be made by the employer. They have access to senior management jobs around the world. They often determine which candidates are to be introduced to client organizations. The employers hire search firms to find special talent which is in short supply. Executive recruiters look for candidates who are currently employed, have a good growth record, and are making good compensation.

Headhunters can be very helpful to you at some time in your career. It is wise to cultivate relationships with some of them in your field. When you meet a search firm’s criteria, you get immediate attention. On the other hand, remember that search firms work for employers and get paid by them. When you do not get a response from a search firm, it means that you do not meet their criteria for positions they are trying to fill.

There are two types of executive search firms – retained search firms and contingency search firms. Retained search firms generally have an exclusive assignment to fill a specific position, and they get their fee even if they are not able to fill the position. Contingency search firms are paid a fee only when they fill a position.

The starting point for your approach to executive search firms is to realize that they are not under any obligation to talk to you. Their fees and expenses are paid by hiring companies, and their primary obligation is to the employers. However, they need suitable candidates to meet their obligation to client organizations. A recruiter from a search firm would be interested in talking to you only when you are a good match for a current search assignment, a possible match for a future assignment, or when you are referred by a good source known to the search firm.

The search firms receive hundreds of resumes for each job posting. They go through a quick screening to find possible candidates. As a recruiter, I was able to find only one or two candidates for phone interviews, out of every 100 resumes I received. The other applicants did not fit my area of recruiting specialization, lacked the required qualifications, or just did not generate any interest for further investigation.

Whenever sending your resume to a search firm, remember to include a cover note pointing out how you fit the job requirements for an advertised position or the search firm’s area of specialization.

When you are contacted by an executive search firm, you should expect to answer questions about your background, experience, and current compensation. The recruiter is trying to determine whether to consider you for referral to the client organization. Any attempt to withhold information or provide a vague answer is likely to disqualify you from further consideration.

When the headhunter thinks you are a possible match with the job requirements, you will probably have a phone interview to be followed by face-to-face interviews. And if the recruiter decides to refer you to the hiring company, you will be invited for interviews with the employer. Since the executive search firms are paid by hiring companies, they always try to satisfy the employer’s interest. The employers have to pay substantial search fees for recruiting candidates through executive search firms, and therefore, they use this resource mostly for senior management positions or those positions that are hard to fill. Reliance upon executive search firms is more useful for candidates for senior level positions and less effective for junior level jobs.

USE YOUR SOCIAL NETWORK FOR JOB SEARCH

Social media can be an invaluable asset in all steps of the job search process including networking, finding prospective employers, creating a strong resume, preparing for interviews, and cultivating strong references.

Social media can be your most valuable resource for networking.

In years passed, the only way to meet and make an impression on new people was through face-to-face forums such as networking receptions and conferences. Today, with the help of blogs, Twitter, Facebook, LinkedIn, and other social media sites, it is possible to establish personal and professional relationships without ever meeting face-to-face. As a first step, consider starting a blog or a micro-blog. A well regarded and informative blog can be your most valuable networking asset. It is an ideal demonstration of your knowledge of a particular subject and your ability to communicate in writing, and it will be a catalyst to help you start conversations with your peers and leaders in your industry. A good blog has a purpose; so do not create a blog that is an unstructured journal of your thoughts. Instead, pick a topic for your blog that you are knowledgeable about and that others will find valuable. In order for your blog to be useful and gain popularity, you should plan to post at least once a week. If you do not have the time to make that much of a commitment to your blog, consider creating a micro-blog on a site like Twitter. As with a long-format blog, your Twitter or micro-blog account should have a primary purpose that is valuable to your peers and leaders in your industry.

Use your online network to find prospective employers.

There is an adage that the best jobs are taken before most people even know about them. This is because people turn to their personal network first when trying to fill a key job, and they feel much more confident hiring someone they know or someone that comes recommended from a trusted source. Start your job search by reaching out to your friends on Facebook and connections on LinkedIn. These resources will help you find positions that may not be listed yet or that are being recruited for using a closed process.

Your online presence is a critical component of your resume.

 Just as you must research companies online before submitting your application, hiring managers will often research a candidate online before extending an invitation for job interview. As a result, your online presence is a critical aspect of your candidacy and you must manage it with the same attention as your resume. Any information available online can and often will be used by recruiters in evaluating candidates. As part of the process of creating your resume, you should create a profile on LinkedIn that describes your experience accurately, effectively, and in sufficient detail. If you have a website or a blog, make sure your biographical information is up to date. If appropriate you may want to dedicate part of your site to your job search by including an online version of your resume or a portfolio of past projects and accomplishments. Be aware that employers may use any aspect of your online presence to evaluate your candidacy. Make sure that all aspects of your website and social networking profiles portray you in the best light.

Use your social network to prepare for interviews.

Before interviewing at a company, look on social media sites such as LinkedIn and Facebook to see if you know anyone that currently or previously worked at the company. You should consider reaching out to direct connections, and also to friends of friends. Most people are willing to discuss their experiences provided that you are respectful of their time and do not pry into subjects that may be governed by confidentiality. Before each of these conversations, prepare a short list of questions to make sure that you can get maximum benefit from the opportunity. In some cases, making a good impression on a current employee can have a positive impact on your candidacy.

Use LinkedIn to cultivate your references.

LinkedIn has an invaluable feature that allows people to post recommendations for you to your LinkedIn profile. Prospective employers may use these recommendations to gain insights into what your peers think of you and how they describe your positive traits. While these recommendations will not take the place of personal references, they do provide an important source of information for hiring managers. LinkedIn recommendations can be a great way for you to start the process of cultivating a strong set of references.