CREDIT: Steve Glynn-Bizfluent.com
Most employees would like to think that their job is secure. However, this is not necessarily the case. Many companies are sold or shut down from right out from underneath the employee’s feet. Employees are the last to know. If you do not want to be caught off guard by the sudden sale of your company, you must be aware of these signs.
Steps
- Be aware when the executives no longer talk about the future or encourage the growth of employees. Then you will know it is time to make other employment plans. Since the company is about to be sold, the executives may no longer consider the concerns of the employees, especially if they consider the sale of the company a result of low employee production and performance.
- Evaluate the connectivity of the management. When a wave of silence develops within the personnel office, take notice. One of the purposes of management is to communicate with employers regarding their jobs, the company and the future. If this stops suddenly and management begins to avoid employees, be prepared for a possible change of owners and perhaps a job loss.
- Watch for a sudden reduction in supervisors. When bosses begin to rapidly disappear and are replaced by others underneath them, be aware. Chances are that managers and supervisors are jumping ship before it sinks. This means that you should perhaps making plans to look for another job.
- Monitor top performers. Be aware of who is leaving the company. If high performers start leaving the company at a high rate, either by transferring or joining up with the competitors, there is a chance that something is not going the way it should. Many high performers are sensitive to changes and will make moves before the hatchet falls.
- Be aware of a constant lack of inventory and/or equipment within your company. When management can no longer afford to keep adequate inventory or attempts to sell inventory, then something may be going wrong. In order to satisfy customers, companies need adequate inventory, including the right equipment to run the operation smoothly.
Tips
Monitoring the activities of your company cannot be overstated. Pay attention to declining sales and loss of important customers. Strong sales are the foundation of a company’s existence. If your company is using desperate measures to attract new customers, such as very low sales, this should give you reason to be suspicious of its likely sale.
Warnings
If you want to be prepared in case your company closes, you must not take the number of early warnings signs for granted. Be perceptive of what is going on around you. You should be in constant communication with your networking system, and have an up-to-date resume. In bad economic times, companies are constantly and suddenly being sold or shut down without informing employees until the last minute. However, employees who are prepared end up a step ahead of those employees who are shocked by the situation.