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You may not know it, but you know them If you have ever worked in an office - or even gone to the post office - you've used products made by Pitney Bowes, the world's largest manufacturer of mailing equipment and postage meters. In 1920, the U.S. Senate passed a bill approving the Pitney Bowes postage meter (the machine was patented by co-founder Arthur Pitney in 1902), and the company put the first postage meter into service in Stamford, Connecticut. Pitney Bowes has been booming ever since. The company's machines have played a major role in enabling the U.S. Postal Service to handle greater volumes of mail throughout the century, and in modernizing mail delivery in countries like Germany, Mexico, and China. With over 3,000 patents under its belt and a huge research and development budget, the company hopes to retain its spot at the top of the market through continuing innovation. Changing with the world Pitney Bowes made its mark in old-fashioned paper mail but is transforming its products and itself in order to ensure its continued prominence in a world increasingly reliant on electronic communication. It's not as if Pitney Bowes isn't making money by selling postage meters, though. The company sells about 85 percent of the 2 million meters sold in North America annually (which is still a smaller market share than its once near-monopoly). And as the U.S. Postal Service converts mail meters from mechanical to digital (because of fraud that mechanical meters enable, the postal service is pushing a full conversion to digital by 2001), the postage business is likely to become an even bigger cash cow. Digital meters, like printers, require ink cartridges, and will create new forms of revenue. Diversification While mailing systems continue to be the most visible and important division of Pitney Bowes, the company has been diversifying since the 1960s. Pitney Bowes now markets copiers and fax machines that are manufactured abroad, offers business consulting services such as mail management. Like many other major corporations, Pitney also houses a financial services division, which helps customers finance its purchases of the company's products and services. Moreover, Pitney has partnered with a series of overseas mail providers, including Royal Mail in the U.K. and Poste Italiane in Italy. Announced in May 2000 the deal with Poste Italiane help introduce a new postage system in Italy that allows any PC user with an internet connection and a printer to place stamps on mail. Cutting-edge Pitney Most analysts agree that computer-age services and products will determine the success of the company in the next century, as traditional mail becomes less prominent because of faxes and e-mail. These 21st-century businesses include electronic printing and produces message-management software. Pitney has developed software that allows customers to track incoming materials and outgoing products, and convert bills to fax and e-mail. The company has also emerged as a leader in developing Internet applications for message-management. It expects to spend $100 million on Internet product research in 2000, nearly double what it spent in 1999. In April 2000, the U.S. Postal Service gave Pitney the green light to start selling postage over the Web under the ClickStamp Online and ClickStamp Plus names. Analysts expect the online market to account for $1.5 billion of postage sales in three years. With its steady flow of revenue from other sources, Pitney may prove to be formidable opponent for dot com competitors like Stamps.com. Looks like a success Thus far, Pitney Bowes seems to be dealing just fine with the move to fax and e-mail, thank you. Despite some concerns only several years ago that the company was destined for defunct dinosaurhood, Pitney has thrived, seeing its profits rise every quarter, and its stock price soar. Flushed with cash, the company has been able to pump the money into product development: research and development expenses in 1998 were $101 million, a 13 percent increase from the previous year. Many believe Pitney's hottest prospect is the company's electronic bill presentation service called docSense. Analysts expect 70 percent of global billing to be done via the Internet by 2005. Delivering results at Pitney Why the outstanding performance? For starters, the Internet has not cut into traditional mail. In fact, because it promotes commerce, and all the bills and invoices that accompany commerce, the Internet has actually helped boost Pitney's core postage meter business. Second, under CEO Michael Critelli, the firm has aggressively pursued the new businesses and reorganized itself around them, becoming a more entrepreneurial, but at the same time, more centralized company. Still, while the company appears to be in outstanding shape, in order to make its way in the electronic world, it must compete with giants like Xerox and IBM who are well entrenched in electronic communications businesses. Recent alliances with iManage, Heidelberg, Cypress and SAP all seem to confirm that the company is on the right track towards morphing into an electronic messaging giant while remaining a snail mail powerhouse as well.
Pitney Bowes looks for applicants with solid technical skills and computer literacy. The company's web site, located at www.pitneybowes.com, links to specific openings, many of which are in the company's field offices, as well as provides descriptions of job openings for recent college grads. The company recruits heavily at colleges; its mailing systems division posts a schedule on the company's web site. One insider reports that "PB seems to have special relationships with RPI (Rensselaer Polytechnic Institute) and Cornell" from which "a lot of interns tend to come." Insiders describe what can be a fairly rigorous interviewing process. "Usually, each candidate will meet with several people, some in the hiring department, some outside the department," reports one contact. "For me, I interviewed with potential co-workers, my manager, my manager's manager, and people in different groups but in the same discipline." Another describes a slimmer process: "a human resources person, one or more middle managers, and perhaps one peer." Contacts agree that candidates should at least be prepared for technical questions. One reports enduring "many rounds and technical questions." Says another: "Some interviewers asked me to solve technical problems, others asked me about the nature of the business sector, others asked about my interests outside the scope of the job."
The people company "Pitney Bowes treats its employees like gold," says one insider at the company's headquarters. "The culture is very people-oriented," says another. One contact describes the atmosphere as "supportive, easy-going, friendly, and approachable on all levels." "There are many programs to participate in that can enrich you not only professionally, but personally" contacts claim. Of course, how employees are treated depends not just on company policies but on the people who work there. Pitney Bowes, like most large companies, has its good and bad. Reports one employee, "I enjoy working with the people in my group. Most are friendly, warm people who will not hesitate to lend a hand in helping you get your job done," reports one insider. Not everyone agrees, of course. Says one insider, "Pitney Bowes' corporate culture on the whole tends to shade towards the cool or cold side. Some new employees have mentioned that there seems to be some underhandedness." Grow old with Pitney While job security has "recently begun to deteriorate," longtime employees say that Pitney Bowes strives "earnestly" to "move all capable employees up through the corporate infrastructure." Says one longtime employee who moved from a manufacturing to information systems position, "The fact that I could make a career transition like that, I believe, speaks volumes about Pitney Bowes." But, as another contact points out, "there is plenty of opportunity for advancement and there are plenty of people competing for that opportunity." And those looking for entrepreneurial environment and rapid advancement may want to take into consideration one insider's comment that despite recent cultural evolution "PB is a big old company; it has a big old corporate culture: very structured, with a good deal of inertia." Outstanding record for diversity While the company may be old-fashioned in some respects, Pitney Bowes is quite progressive in others. Known as an outstanding corporate citizen in its hometown of Stamford, Connecticut, Pitney Bowes "has been named as a top company for women to work for by several different publications: Business Week, Fortune." That insider notes that "several women hold key upper management positions." One minority insider reports that "as far as minority presence in the company goes, PB is hiring more." Says another: "Pitney Bowes has won a number of awards and recognition for its efforts in diversity. I sincerely hope we are doing as well as it appears we are." The company's headquarters is located in the "South End," an inner city area of suburban Connecticut; Pitney is active within that community. The company dress code is casual. "We made the switch about two years ago," says one insider at the company's headquarters. "There are still some people who insist on putting on a tie, but for the most part everyone has embraced the casual dress code." Can be extra hours, but not bad Pitney insiders agree that hours at the company can be long on occasion, but in general are very reasonable. As one contact puts it, "You work the hours to get your job done." Says another, "Every so often you may work on a project that requires overtime and Saturdays to keep up, but this is not the norm." The company is also apparently beginning to install more work/life balance programs. "There is a lot of activity going on now with respect to flex work schedules and telecommuting." The company's vacation policy could use some boosting, though according to insiders. It's "two weeks paid vacation for the first five years, then it increases to three weeks for the next five." Softball teams and massages For the social and sports-minded, there's a "corporate softball team and golf league." Also, "we have a fitness center with four fitness instructors. These instructors will help you work on a development plan, like losing weight or increasing muscle." At the center, "they also offer aerobics classes every morning and at lunchtime. The fitness center provides you with all the bathroom amenities - towels, soups, razors, lotions, and showers." The company also sponsors "a lot of health awareness classes." Reports one insider, "We have guest speakers come in to talk about Lyme Disease, or discussion groups on having a family and working." To top it off, the company has also had "people come in to give stress massages." Competitive pay, good benefits "Pitney Bowes bases its pay scale on national and regional averages." Claims one insider,"it's right in the middle." Another states: "I think we're very competitive, and the company aggressively evaluates itself against peer companies to stay ahead in compensation and benefits." Job seekers should be aware that "there are a lot of contract employees here, even at the entry-level. Their benefits are not as good, but their pay is better." As for benefits, "for salaried employees, there is a 401(k) with a 4 percent match, and a pension plan." Also, "there is a discount stock option purchase plan open to everybody, and there is a trend toward stock option bonus rewards being offered to lower-level employees as well as higher ups." And those looking to learn while working will be happy to know that "graduate education is fully reimbursed."
Human Resources
Postage meters;Copiers;Fax machines;Office software
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