• Basing your job search on company growth

    May 13, 2016 by
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    College students preparing to enter the workforce must consider jobs based on information that extends beyond the description of available positions, including company growth. By considering the characteristics of prospective employers, job seekers can make decisions that can improve their chances of having long, successful careers.

    For many college graduates, getting involved with a growing enterprise represents an opportunity to share the benefits of company growth. Employers that currently experience growth and expect it to continue in the future often promote employees from within to fill vacant positions. The move controls recruiting and hiring costs, and gives employees opportunities for professional growth.

    Company growth ranks as one of the most important factors in the job search. Although the stability of mature companies that have stopped growing might seem attractive, they could limit career development for new college graduates. Younger companies might bring a degree of uncertainty and increased responsibilities to the table, but they also bring an opportunity for new employees to quickly grow in their profession.

    Expanding product lines

    Companies that signal growth through the expanded product lines give prospective employees reasons to believe they can grow with the enterprise. Nike, an established company, once experienced periods of growth as the company extended its brand from shoes to clothing, accessories, and electronics. College graduates who see a company expanding in a similar way can expect to gain valuable experience in business and brand development during an extensive career with the same employer. After gaining work experience with such a firm, employees can market their skills and experience to other companies that want to grow.

    Growth through acquisition

    Growing companies may choose to buy other firms as a pathway to growth. Professionals working for businesses expanding this way can find themselves at the top of the overarching corporate structure. Such a situation exposes employees to diverse business models and organizational structures, as they assimilate new firms into the company. Good performance in positions of high responsibility gives workers a path to higher pay and promotions.

    Blue Coat, a growing player in the cloud security market, provided a good example of growth through acquisition when the firm bought Elastica, a startup provider of software that can detect the inappropriate use of cloud-based applications. The company adds innovative technology to the acquiring firm, as well as the responsibility to create synergy with the combined company. Qualified job candidates might consider working for such a company because the business could continue to fuel its growth by buying other companies.

    Market expansion

    Companies with existing products that seek to grow by entering new markets need well-educated job candidates to fill positions within the growing organization. Graduates who choose to join a firm with a demonstrated pattern of market expansion can expect to have a long-term pathway to career development, as they learn how to deal with markets regionally, nationally, and globally markets. As their employer grows, workers can expect to assume new responsibilities that increase their value to the firm and possible future employers. Although many companies such as Netflix have entered different countries to pursue growth, smaller companies might grow by expanding into different regions of the same country. For example, Express Employment Professionals began as a small staffing firm in Oklahoma and has since grown by expanding into hundreds of markets around the USA.

    A study referenced by Forbes.com showed companies that promote employees from within outperform those that fill positions with external hires. College graduates willing to join a business during its early stages might at first accept a lower wage, but the increased chances of promotion within the firm can compensate for any initial loss.

    If you’re looking for more job search tips, visit the College Recruiter blog and follow us on Facebook, LinkedIn, Twitter, and YouTube.

    Cameron Johnson, guest writer

    Cameron Johnson, guest writer

    Cameron Johnson is a BYU Alumni and business consultant. Since graduating from college in 2013, he has conducted case studies on both social media optimization and non-profit marketing. Cameron has also had the opportunity to speak at international marketing conferences and was recently recognized as one of the world’s top 100 advertising experts to follow on social media.