Articles - Career / Personal Development

Many job seekers fail to realize that while employers are investigating them, they should be doing the same to ensure that their target organizations are a promising fit. This oversight can be very problematic down the road, says Marcia Heroux Pounds, author of the recently released book I Found a Job!: Career Advice from Job Hunters Who Landed on Their Feet.

Why It’s Important to Learn About a Potential Employer’s Financial Status

Before seriously considering a new job — especially if you would be voluntarily leaving a job to take another one that appears better — learn everything you can about a company’s financial condition. “Many job seekers in this recession have found a job, only to be laid off again. Sometimes, it was avoidable with a bit of research that pointed to red flags,” Pounds explains.

Questions to Ask About a Company’s Financial Status

Pounds encourages job seekers to ask employers questions about revenue and year-over-year growth to achieve a better understanding of the company’s financial status.

“Many job seekers feel uncomfortable posing such questions, but as long as you ask them diplomatically, an upfront business owner or manager will credit you for being thorough,” she says.

Other Ways to Learn Vital Information About a Company For Which You May Want To Work

For job seekers who are still hesitant to engage in such a discussion or are unable to get straight answers from employers, Pounds recommends some additional strategies for obtaining key information:

• For public companies, you can get a snapshot of financials through their required filings with the U.S. Securities and Exchange Commission at www.sec.gov. Look at the company’s revenues and earnings, and compare them with a year earlier. Look at the trend over five years. Recognize, of course, that nearly every company took a hit in the recession in 2008–2009. Has the company started to recover since then?
• Do an Internet search to see what has been written about the company, especially in the archives of a local newspaper, which may offer more information.

Consider Possibility Company Is Buying Another or Being Bought By Another

Is the potential employer in acquisition mode? That could be a good sign, showing that the company is positioned to take advantage of opportunities in the marketplace. But also realize that acquisitions and mergers mean the company will likely be reorganizing certain departments for “synergies,” which usually results in layoffs somewhere in the combined companies.

BIOGRAPHY

George Lenard, the originator of George’s Employment Blawg,has over twenty years of experience in all aspects of labor and employment law, including preventive law as well as litigation. His special interests include employment discrimination, sexual harassment, and noncompetition agreements. He is currently a managing partner with Harris, Harris, Dowell, Fisher & Harris, L.C.,., in St. Louis, Missouri, and lives in the suburb of University City with his wife, one daughter and two sons.

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