How To Do Your Homework on a Company

Whether applying for a job, working on a resume or preparing for an interview, knowing and understanding your target companies is essential. On top of the company, it is also key to know the recruiter, their needs and their philosophy. In doing so, you will have a huge chance to capture their attention and set yourself apart. Here are some tips for finding the most relevant information and using it to arm yourself with a convincing application.

Writing about the company in your cover letter

A cover letter is traditionally written in three parts (me – you – us). The letter is your chance to show that you understand the company and sector. Despite this seemingly no-brainer concept, most cover letters contain absolutely no mention of the company. This is even more surprising given that a personalized cover letter is a major recommendation from career experts and recruiters.

Clearly, doing homework on a company is a huge stumbling block for professionals. But it does not need to be. First, keep in mind that a company is asking you to understand their business, not out of pride, but because they are looking for individuals that demonstrate interest in their activities. It is motivating to receive a well-crafted letter that resonates with the values and objectives of the company. Giving preference to those that demonstrate interest in the company is completely natural.

Beyond the letter, it is crucial to speak intelligently about a company during an interview. Researching a company is a fundamental step in finding a job.

What types of information should I research?

No need to spend hours online. Go straight to the most important pieces of information.

Before applying for a job, this is what you should know about the target company:

  • Products/Services: Even if you are not in sales, it is important to know which products and services the company sells. Regardless of your role, you will need to understand the sector and its specificities. The retail industry operates differently than the media sector. The legal services industry is distinctly different from global logistics.
  • Reputation of products and/or services: If the company has an excellent reputation, you can highlight it. That said, be subtle and avoid empty language like “your company is a leader in the industry”. However, if the company has recently been in the press for a sensitive issue, make sure you know why you are applying. If you are sure, remember no employer will appreciate your judgment. Find a middle ground. Remember, you do not want to show up talking about their excellent service when they just went through a customer service scandal.
  • Their results: It is always important to know how the company is performing. This is especially true for sales and management positions. Reference a few of their numbers. But remember, the person reading your cover letter likely knows the books better than you.
  • Their values: You should not write the same letter to a large corporation and a young startup. Understand the company’s values and culture. It will help you find the right words to express your enthusiasm.
  • Their human resources culture: Many companies provide insight into their hiring process and the types of candidates they are seeking. Take time to read their employment page, watch their videos and engage with their HR department on social networks (see if they are there).

The goal is not to be a detective. Understand your audience instead of leading an investigative report! In general, one hour of research is enough to write a targeted, personal cover letter. For an interview, spend a little more time absorbing the right information.

Turn information into insight

The most difficult part about collecting information is using it to your advantage. If you know nothing about a company, you risk sounding generic and boring. In theory, your research will help you avoid coming across as insincere. That said, you do not want to come off as a know it all, copying and pasting information from the web.

Let’s start with things to avoid:

  • Reciting their latest numbers or copying verbatim their corporate values just to show you did your homework.
  • Tell them how their company is run and summarize public opinion of their products.

The information that you collect serves two purposes:

  • Help you determine the tone of your letter based on their values, history and recruiting practices.
  • Identify a select number of key points that will help you build a case for your employment.

Even though the traditional structure of a cover letter is me (who you are) – you (the company) – us (how we can work together), your cover letter must represent you and the opportunities at hand. Whatever you decided to present in your cover letter, the “us” part is the most important. Select a few of your skills and personal qualities that you feel will resonate the most with the target company. Each and every element in the letter should be tailored to the company. The ideal is to slip in an expression or two that demonstrates that you understand how the company functions and its values. (Use common sense, it is easy to sound cheesy).

In the interview, do not announce that you read the company’s website and know everything about how they work. Use your research to reply to their questions with depth and breadth.

Finding relevant information

Remember the goal is not to write a thesis. All you need is a few notes and the key points. The web makes researching super easy, but also endless. Stay focused.

On the web!

First stop is always the company’s website. Pay attention to the press relations and human resources pages. If the company maintains a blog, read through the most recent posts. Large companies may have multiple sites: one for their products and one for corporate. Make sure you look at both. But the information you need will be on the corporate site.

Next, search on specialized blogs and forums in your sector. A simple Google search or Google blog search will help you find the right sources.

Going beyond your screen

Your network can be a great resource. Find out if someone you know works or worked at the company in question. Perhaps they can connect you to someone within the company that can help you better understand the position. Better yet, they could be an ideal reference. Often times, the best information comes from the inside.

Understanding your target employers will make a huge difference throughout your job search. You will know how motivated you are for a position by your interest in researching the company. It is not just useful, it can seriously help you decide what you want to do. When you find a great job, share your enthusiasm with your audience. They will be more likely to pick up the phone and invite you to an interview.