TARGETING 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.  

Cover Letter Tips

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.

Avoid the following mistakes in putting together cover letters.

• Salary: You should never mention salary or expected title in your cover letters unless you are communicating with an executive search firm or have been asked to do so in the job description or by a representative of the company. Those are matters that will definitely come up for discussion when the employer has decided to make you an offer. Any mention of compensation issues by the candidate prior to that is untimely. 
• Typographical errors: One typographical error is all it takes to turn off a recruiter. In addition to using the spell check program on your computer, you should have some friends and family members proof read your cover letter.  

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 NEGOTIATE 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. 

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 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.salaryexpert.com

This website was launched in 2000 to provide reporting 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

Payscale 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  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.

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.

HOW TO NEGOTIATE 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. 

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 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.salaryexpert.com

This website was launched in 2000 to provide reporting 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

Payscale 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  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.

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.

COVER LETTERS THAT RESULT IN JOB INTERVIEWS

You must review the job requirements before preparing a cover letter. Job requirements are usually included in job postings and newspaper ads. You should read this information a couple of times to be sure that your skills and qualifications match what the job requires. It is a good sign when you find that your qualifications match most of the requirements. This means, you are a strong candidate for the position. Next, you should underline the primary responsibilities indicated in the job posting, and write down the strongest qualifications you possess to match what the job requires. This is what you want to highlight in your cover letter.  

A cover letter should fit in one page with ample margins. It should contain three to four paragraphs. You should begin with a strong statement describing how you heard about the job opening and the reasons for your interest. This is also the place to explain any prior contacts with the company, such as a phone conversation, or if the candidate is being referred by someone known to the employer. The cover letter should explain what you know about the position and the company, and how your skills and experiences match what the employer needs. You should not say how the job will benefit you. Instead, the emphasis should always be on how you will benefit the company.

A cover letter should include the date, the recipient’s name, title, company name and address and a personalized salutation. The body of the letter should include a statement indicating your interest in the position (including any identifier mentioned in the job posting) and where you saw the posting. If you are sending your letter and resume as a follow-up on a phone conversation or as a referral from someone known to the employer, you should state that in the first paragraph. The second paragraph should describe how your qualifications match the job requirements. A possible approach is to create two columns in your letter, one column to highlight the job requirements and a second column next to it to show how you fit those requirements. Here you should make a reference to your resume for additional information. You can end the letter by thanking the reader, and indicating the next step.  You can say that you look forward to hearing from the employer, and be sure to include your phone number and e-mail address where you can be reached. As an alternative, you can mention your intent to follow-up with a phone call. This is a good way to show your enthusiasm and strong interest, and often gives you the opportunity to learn more about the position and the company when you make the follow-up call.  

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.  

Cover Letter Tips

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.

Avoid the following mistakes in putting together cover letters.

• Salary: You should never mention salary or expected title in your cover letters unless you are communicating with an executive search firm or have been asked to do so in the job description or by a representative of the company. Those are matters that will definitely come up for discussion when the employer has decided to make you an offer. Any mention of compensation issues by the candidate prior to that is untimely. 
• Typographical errors: One typographical error is all it takes to turn off a recruiter. In addition to using the spell check program on your computer, you should have some friends and family members proof read your cover letter.  

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.