Job security is dear to every person in this workforce. We all get up from bed to go to the place where we can feel most productive and build our careers positively. Going 9-5 and working with the highest potential is the goal that we all have on our daily to-do-list.
But it can really devastate an employee’s esteem and come up with a shock to get up one fine morning only to know that the company has closed all its operations. The COVID19 pandemic has done that damage to our companies already. But it is often only the senior most members of management that have hints about the operations of a business getting closed.
So what are the red flags of such a situation brewing inside your office? I am sure you bet to know because you want to be aware in order to plan ahead. Let us take a look at some of these red flags below
Communications Take a Hit
A sudden increase in non-transparent communication about where the company is going and discussion of facts is the first step that the ship is sinking. Most employers do not want employees to know about the losses or the stagnancy that they are facing and hence you do not get to hear about road-maps of company plans, the future of the company, the facts about profits or the achievement graph. If this is happening in your workplace and you literally have no clue about where the company is going, it can be a sign that the company is planning to close its operations.
Increase in Secretive Meetings
When there are a lot of secretive executive meetings happening, it can definitely be a sign of troubled waters. Employees can usually sense an element of tension in their senior level management. When this kind of tension is present then it can be a sign that the company is struggling to keep afloat. Management Opacity is something that increases the most when such a thing happens. There are often brewing issues in the office that management fails to address, in such a case one can raise an eyebrow.
Pay and Hiring Freeze
Whenever there is a pay and hiring freeze, the problems could be with the budget. Such major budget problems mean that the company is having difficulties due to losses or losing clients. As any healthy company would want to keep their employees happy with pay benefits as well as would want to keep hiring fresh and enthusiastic talent to increase their operations, however if the company has decided to go on a pay freeze and a hiring freeze together, there may be waves of trouble coming towards the ship.
Abrupt Changes in Company’s Visions and Plans
Abrupt changes about the vision of the company or in the strategy of dealing with the work should make your mind tick as an employee. These can be frantic efforts from leaders to save the ship before it sinks. It also ensues a high-level disagreement about the company’s direction. If you see that people are running here and there to get work completed and aligned for a new big change, then this is a sign of a problem going on in the company.
You know that You are in a Sinking Ship, Now What?
No one wants to find themselves in a position where they know they are working for a company that is going down rapidly. There are two courses of action that you can take, you can either decide to put your best foot forward and save the ship in hopes that once it is revived you will be in a much better position with this company. However the other option tells you to find another job and jump the sinking ship. If you want to opt for another option then you need to revamp your resume and make your social profiles up to date. You also have to reach out to your network as soon as possible in a bet to find a better job that feels more secure.
As much as employees want the company to do so, but a company never announces its trouble in advance so that a large number of employees don’t suddenly leave the company. It is only after a company has decided to legally announce its closure do the employees get to know about tis operations shutting down.
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