6. Marketing Plan
You have completed your Self-Assessment and
your resume. Now comes the next step in your
preparation – the Marketing Plan which includes conducting research and
employing the various job search strategies.
Before you start sending out your resume,
you need to learn about the market and organize how you will approach the
market.
Research
Why do
research?
·
Knowledge is key
to your decision-making process for screening companies
·
Knowledge is key
to interviewing (knowing the employer)
·
Shows interest
and initiative
·
Avoids having to
ask basic questions during the interview and allows you to ask more detailed,
probing and thoughtful questions
·
It is expected,
especially given the availability of information on the Internet today
What do you research?
·
Company
·
Industry
·
Field/Profession
·
Geographical
Location
·
Position
Company:
·
Financial
Statements - revenues, net income/EPS, balance sheet, cash flow, historical
perspective
·
Products/Services
·
Entities -
subsidiaries/divisions
·
Locations
·
Strategic Plans
·
Corporate
Culture
·
News
Industry:
·
Overall Industry
Trends
·
Competitors
·
Employment
Market
Field/Profession:
·
Requirements
·
Entry Points
·
Location of Jobs
·
Competition
·
Historical
Perspective (growth/trends)
Geographical Location:
·
Cost of Living
·
Employment
Market
·
Companies
·
Housing
·
Schools
·
Quality of Life
·
Historical
Perspective (growth/trends)
Position
·
Job description
·
Similar
positions at other companies
Research Sources:
·
Library
·
EDD (Economic
Employment Department)
·
Colleges and Universities
·
Networking
·
Internet
Internet:
Job Sites:
www.towlvchamber.org Job
openings in the
www.ajb.dni.us/
www.bankingjobs.com Banking/industry jobs - site is state specific (i.e.:
www.californiabankjobs.com)
www.careerbuilder.com A popular general job search website
www.careers.wsj.com Wall Street Journal’s listing
www.employmentguide.com General
www.dice.com Technical jobs
www.employmentguide.com Another
general job search site
www.execunet.com Executive level jobs
www.flipdog.com/ General
www.4work.com/ Job Alert.com - will send you job listings
www.hotjobs.com A popular general job search site
www.job-hunt.org/ Has thousands of job listings in all areas
www.jobs.com General
www.jobsinthemoney.com Financial jobs
www.ihirebanks.com Banking/industry jobs
www.monster.com A popular general job search site.
www.6figurejobs.com Executive level jobs
www.underwritingjobs.com Underwriting/industry
Other Job Sites:
www.usajobs.opm.gov
www.computerjobs.com
www.net-temps.com www.bilingual-jobs.com
www.jobs.employmentguide.com
www.careers.org
www.jobfactory.com
www.careernet.com
www.careershop.com
Research Sites:
Research Steps:
Job Search Methods
Introduction:
When planning your job search, consider all
methods. Spend the appropriate amount of time and effort with each method, i.e.
spend much of your time with networking as it accounts for as much as 50% or
more of the opportunities. The Internet accounts for as much as 30% now when
you combine all the job sites and company web sites.
Do not just focus on one method - you will
be missing out on a lot of potentially good opportunities. Don’t go with what’s
easy - what you put into your search, you will get out of it.
How did you get
your last job? How did those on your
contact list obtain their most recent employment.
Job Search Methods:
Networking:
·
Networking is
the most effective job search method and the most challenging. Networking
accounts for 50% or more of the jobs. Many of the available jobs are either
only posted internally at a company or not even listed (the "hidden"
job market). Managers may know of an impending need, but have not yet opened a requisition, so therefore, the job is not officially open.
Other positions are opened when a manager meets an individual who can
contribute to the department, and the manager will seek to obtain approval to
hire. Sometimes, the manager knows that someone in the department will be
leaving in 1, 2 or 3 months, and the manager would like to hire someone in
advance.
·
Most direct way
to reach decision makers (hiring managers).
·
Excellent source
for research, sometimes a more accurate and reliable source for
"inside" information about a manager/department/company in terms of culture
and environment.
·
Reach the
"hidden" job market (which may account for as much as 50% of the
available jobs).
·
Direct
opportunity to "sell" or "market" your skills and
abilities.
·
The most
challenging method - getting contact names, contacting people you do not know,
going outside one’s "comfort zone."
Target Marketing:
·
When you are
considering a small number (usually 10 or less) of companies, then Target
Marketing can be an effective method.
·
Works best with
a referral name - you can make direct contact with an appropriate decision
maker.
·
May have to use
cold-calling techniques to get the name of someone you would like to contact.
·
Direct, active
method of contacting a company of interest.
·
You can contact
the target person by letter, email or phone call. Using written form allows you
to prepare what you want to say and present to someone you do not know with
less anxiety than using the telephone.
·
Can be a step
prior to networking and interviewing.
·
No guarantee you
will reach the intended person, by mail, email or telephone.
Internet:
The Internet is a
vast resource of information and job listings. The Internet is gaining in usage
and effectiveness - it now accounts for as many as 30% of the jobs being
filled. However, it should not be the only method you use, even though it is
the least anxiety producing.
There are numerous
job search sites with thousands and millions of listings. There are excellent
sites for conducting research about companies, industries, geographical
locations, etc. Company web sites list open positions and provide direct access
to the jobs database, and also provide excellent information about the company.
Internet Characteristics:
·
Convenient -
available 24/7.
·
Less anxiety
producing than networking and target marketing.
·
Free (not including
the ISP charge) and accessible from any computer with Internet connection.
·
Provides direct
links to companies’ web sites.
·
Provides helpful
information when considering relocation.
·
Can post your
resume on job sites.
·
Impersonal
·
You are
competing with thousands of other candidates’ resumes.
·
You do not have
direct contact with the employer; often times, it is difficult to follow-up on
the status of your resume submission.
·
You are not
making direct contact with hiring managers.
·
It is passive -
you have to wait to be contacted if the company is interested in you.
·
A listing does
not guarantee that a position is actually open.
·
Posting your
resume advertises your resume and personal information to anyone who has access
to the job site database such as recruiters. They can then forward your resume
to companies without your knowledge and approval.
Newspapers:
Newspaper ads for
job openings have many of the same advantages and disadvantages as the
Internet. There are far fewer listings, and they tend to be more local. You
still face the impersonal nature and the large number of people competing for
the same jobs (though much less than with the Internet).
Most ads name the
company - they are called "Open Ads." They may even list a contact
person and/or phone number, but in most cases, you are directed to mail, fax or
email your resume to a department, P.O. Box, or anonymous individual. Some ads
do not even list the company - these are called "Blind Ads." Blind
Ads are used to protect the confidentiality of the search. They are also used,
however, by employment agencies or companies who want to collect resumes for
their databases.
There are also ads
posted by search firms or employment agencies. These may be legitimate
openings, or they may be generic listings used to solicit resumes for their
databases.
Search Firms / Employment Agencies:
Search
firms/agencies account for about 5 - 10% of the jobs filled. Certain positions
and industries as well as market conditions will dictate the actual success
rate for your particular search. Good recruiters can open doors to positions
that you would not have access to otherwise, and they can be an excellent
source of information about the hiring company and manager, the history of the
department, the promotional opportunities, the work environment, the turnover,
etc.
Types of Search Firms:
1.
Retained - the
firm is hired (retained) by a company on an exclusive contract to find a person
for a specific position, usually very high level. The firm is paid a fee for
the service. Retained firms work for the client company, not the job-seeking
individual. They look for you, generally, rather than you finding them.
2.
Contingency -
the firm seeks to match jobs and individuals, and the fee is paid by the hiring
company to the contingency firm if the position is filled by one of their
candidates. The relationship between the firm and the client company is
generally non-exclusive.
3.
Contract - the
firm places individuals in contract positions. The contracted employee is paid
by the hour. Sometimes, the contract agency pays benefits. The positions are
usually professional level such as IT and Accounting.
4.
Temp Agency -
the firm places individuals in temporary positions. The temp employee is paid
by the hour. Sometimes, the temp agency pays benefits if you have been employed
through the firm for a length of time.
5.
Fee-Paid - the
firm charges you a fee if you are placed at a job. The hiring company does not
pay a fee. The fee is based on a percentage of your starting wages or salary.
Characteristics of search
firms:
·
Search
firms/agencies typically "work" for the client company, not the
job-seeking applicant as the fee is generally paid by the client company.
·
Search
firms/agencies are generally limited to open job orders (listings) and so do
not necessarily have access to the "hidden" job market.
·
You are
generally matched to the specific requirements of the position. Therefore, if
you are looking to make a career change, search firms will be limited in what
they can do for you or are willing to do for you. If it is easier for them to
place you in your current field, that will be their interest and effort.
·
Some recruiters
have industry and functional experience; others do not.
·
There are
generalists - work on all types of positions. There are specialists - focus on
an industry or functional area.
Tips For search firm use:
·
You are
responsible for managing the relationship with the search firm and the
recruiter(s). You should screen the firm and the recruiter(s) as to experience,
client contacts, style and ethics. You should control the distribution of your
resume. State that you want to be notified in advance if a recruiter wants to
present your resume so that you can control the process and keep track of it.
You may be working with several firms, and you are also making contacts on your
own. It is not beneficial to have your resume presented multiple times for the
same position. You do not want firms to "argue"
over who has your approval to present; the potential employer will not
pay duplicate fees and may decide not to interview you if there is a conflict.
·
Maintain contact
with the recruiter(s). If you do not receive a response, then the relationship
isn’t working. Look for a recruiter/firm that values you on a long-term basis,
is interested in developing a long-term relationship with you, whether they
place you in a position now or not. You can be a valuable resource to a firm by
providing referrals and speaking well of them if they treat you well.
·
Do not get
bullied into accepting a position that you are not sure of or are not
interested in.
·
Consider
contract and temp positions - they provide the opportunity to earn income, gain
new experience and skills, "test" a new company and job without the
long-term commitment, and open new doors for potential permanent opportunities.
A lot of companies like to hire "temp to perm."
Other
Methods:
Other miscellaneous
methods do not generally produce a lot of job placements, but all avenues
should be considered. Job Fairs provide a chance to make contacts and learn
about companies and positions. Professional and alumni associations are
excellent for networking and learning about an industry, a profession,
companies and positions.