How to Determine if Your Company is in Trouble

There are signs to look for and once you see them, you need to start job hunting immediately and with vigor. Here are some clues to consider.

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• Good powers of observation

1. Problems with paychecks is often the major telltale sign that the company is having a serious cash-flow problem. If you get paid late or have any issues with cashing pay checks, beware. If you are in a non-profit, this can happen as grants come in on a staggered schedule, but a manufacturing company should have enough of a buffer to avoid this problem.
2. Frequent changes in upper management is another common cause for concern. This does happen in stable companies as well, but combined with other factors, this can be an indicator of financial instability.
3. Loss of customers without apparent reason is another cause for concern. If your company is losing customers, they should be aggressively going after the business with new models and products.
4. Lack of communication from the top is another clue. Most organizations give memo updates or have at least quarterly business communications to employees in the form of meetings. If this suddenly stops, be concerned.
5. A sudden exodus of employees at any level, but particularly among those that may be privy to the company’s finances is another clue.
6. All or many of these factors combined should get you in motion to start a new job search. Remember, employment for life is a luxury of the past and will likely never be the status quo in the future. You need to look out for yourself first and foremost. You are your own best advocate.

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