In a time when a company can be flourishing one minute and failing the next, it might seem like you could lose your position at any minute. While a company going under might seem abrupt, there are usually some signs that indicate the business isn’t doing so great. Many employers try to avoid jumping the gun and delivering bad news when it’s too early to know for sure, but if you’re questioning the stability of your employment, here are a few key things to look out for that could signal the business you’re working for won’t be standing for much longer.
1. Your Employer Stops Addressing the Company’s Future
A big sign that a company is in trouble is if your employer stops addressing the future; when promotions, projects, and meetings are all put on hold, it’s wise to question the next step of the company. If your employer stops developing the inner workings of the business without explanation, there is usually more to it than what is being said, and it’s a good idea to gently and politely bring up the changes you’ve noticed.
2. Private Meetings are Being Held More Often than Usual
If management suddenly starts holding more private meetings than usual and doesn’t report any feedback to their employees, it could signal that a concern is being addressed on a company level. Keep in mind that there could be many different reasons why this could be happening, but often times when a company is near the end, the leadership needs time to address the issues and figure out what direction to take.
3. More Employees are Being Laid Off
Laying numerous employees off is often a last ditch effort many companies make to save the company. What is meant to be an attempt to save some funding to recover the business is often the start of a rapid downhill slope, and if your employer has a reputation for strong employee retention and abruptly starts letting workers go, it’s a good indicator that it’s not the employees who aren’t performing, it’s the company.
4. The Bonuses and Extras Start Diminishing
When the employee-of-the-month bonuses start disappearing and the office coffee switches from the primo brand to the generic, it could mean that the company’s budget is shrinking. While this could just be a small way for your employer to save a few dollars, unexpected cuts might be a cause for concern, so it’s important to stay aware and keep your eye out for other changes.
5. Higher Ups Are Voluntarily Leaving
Higher up employees and those in management positions (who would normally be included in conversations about business trouble or possible layoffs) often get out at first moment’s notice, and if you’re observing a slew of long-term, loyal employees putting in their two-weeks’, there is probably a good reason they’ve decided to take off and explore other options.
Private meetings, surprise layoffs, reduced bonuses, halted projects, and sudden departures are all indicators that your employment could be in jeopardy. If you’ve noticed several of these occurrences take place in a small period of time, address your concerns with your employers; that’s the only way to know for sure. It might be touchy thing to bring up, but even if turning the other cheek is the more comfortable thing to do, remember you have the obligation to yourself to look out for your personal well-being. No one else is going to do that for you.
About the Author: Arlene Chandler is a freelance writer who loves helping people face the uncertainty of tomorrow. When she’s not in the hills with her two yellow labs, she writes about finance tips, career advice, and income protection Australia from AAMI.