Unfortunately, many organisations are making people redundant or maybe doing so soon.
Do you think your organisation is likely to be one of them?
If so, now is the time to put a plan in place.
What signs should you look for?
Less work
There is less work to go around.
New Management / Leadership or Change Leadership
A new management and leadership team will want to make changes. They will want to inspire and guide the organization through a period of adaptation and change often involving a new vision, values, and strategies. You need to assess how you will fit in with this new management.
Re-organisation
This can involve combining roles, changing job responsibilities or removing positions to improve efficiency, reduce costs or adapting to changing market conditions.
Hiring Freeze or Reduced Hiring Plans
This is when an organisation stops hiring new employees. It is usually a temporary hold on recruitment. It can include freezing any new positions and not replacing any employees leaving the organisation.
A hiring freeze can be a full freeze, (no hiring at all) a partial freeze (usually no new positions but business essential roles will be filled) or department specific.
How long a hiring freeze lasts will depend on the reasons behind it.
Earnings Reports
These offer a snapshot of the company‘s current financial health.
Debt and Cash Flow Issues
Cash flow problems occur when a business does not have enough cash to cover its liabilities. With cash outflows, businesses may struggle to pay debts and other expenses.
More frequent meetings/ communications from the leadership team.
Do any of these signs apply to you in your organisation?
If so, your job could be in danger.
What should you do now?
Would you like help for your next career move?
Then why not contact me, Alistair Stirling, an experienced, impartial, registered and qualified freelance careers adviser with a long history of working with many clients who want help with their careers. Alternatively you can book a Free 20 minute Discovery Call.
