Advertising
Advertising

8 Ways To Tell If Your Job is At Risk

8 Ways To Tell If Your Job is At Risk

    It’s Friday! And while that may mean TGIF parties for many of you, Friday is also a day that is commonly considered the “best” day to lay off employees. Some companies are very good at keeping internal restructuring under wraps. However, there are often a few warning signs that indicate that your job (or even your whole division) may be at risk. Will your Friday night end with winks and beers or drinks and tears? Read on to find out if your job might be at risk.

    1. Watch the Markets

    If you work for a publicly traded company, it’s important to track the price of your company’s stock. The rise and fall of a stock isn’t a perfect barometer for predicting layoffs, but it can often be an early indicator.

    Advertising

    You should also make an effort to track your company’s profit margins, whether or not you own stock in the company. If you see sharp drops in any quarter, brace for impact.

    2. Keep Tabs on Other Locations

    If your company operates out of multiple locations, keep your ear to the ground and stay abreast of any hirings and firings at other branches. Your market may be different from the other branches, but what happens at one branch is likely to happen at another branch.

    3. Look Out for New Faces

    In the movie Office Space, you know things are about to go south for Initech when two consultants show up and start to separate the wheat from the chaff. If your company starts hiring consultants, or creates a new directorial position that seems like it could also be used to cull jobs from your organization, this can be a warning sign that there are cuts in your company’s future.

    Advertising

    Another type of fresh face to keep an eye out for are security guards at your building. The larger the company you work for, the more likely it is that your employer will hire extra security guards in the event that a laid off employee freaks out and needs to be escorted off the premises.

    4. Look for WARNings

    According to online job search expert Susan Joyce, you may be able to get up to two months of advance notice if there is a mass layoff in your company’s future.

    “In the US, companies meeting certain specifications are required to provide 60 days notice to affected workers and local governments in advance of plant closings and “mass layoffs.” This is a requirement of the WARN (Worker Adjustment and Retraining Notification) Act. A WARN notification is required if more than 500 people (or 33% of the “active workforce”) are being laid off. Check your state’s Department of Labor (or whatever it is called in your state) to see the notices that have been filed by employees in your state.”

    Advertising

    5. Executive Meetings Becoming More Frequent

    If you hear tell that the execs from 5 different branches from all over the country are meeting with increased frequency, this is definitely a signal that there is something important worth talking about. It isn’t always a bad thing…but if there is a sudden increase in the frequency of these meetings, that might signal that the thing being talked about has urgent financial ramifications.

    6. Your Hours or Pay Are Reduced

    Before flat-out firing people, some companies prefer to offer pay cuts or reduced hours to their employees as a preliminary measure to cut costs. If this happens to you, or happens to other people in the company who are at your pay grade, this should set off some warning bells. On the plus side, you may be eligible for part-time unemployment benefits, depending on your state’s laws, which can cushion the blow while you look for a new full-time position.

    7. It’s Been Ages Since You Got New Office Supplies or Technology Upgrades

    A company in financial trouble will likely cut back on office supplies, which might range from pens and paper to desktop computers and company-provided phones. If the office itself is starting to look run down and like its in need of an upgrade, it’s indicative of excessive belt-tightening measures.

    Advertising

    8. Your E-Mail Suddenly Gets Managable

    According to Brian Satterfield of HRWorld, a sudden change in the volume of your e-mail is never a good sign.

    “A sudden, pronounced and prolonged drop in the volume of email you receive may be a welcome respite from communication overload, but it also might mean that key projects that would have normally been assigned to you are being handled by employees that the company sees as key to its future. Meaning, not you.”

    Conclusion

    Friday is actually a terrible day to fire people, according to Karen Lucas, a Chicago executive coach. She says that firing employees on a Wednesday is better because they don’t have to wait for two whole days to start their job search or apply for unemployment.

    We hope that these warning signs have been helpful, and we hope that everyone reading this has a long, happy career at their current company.

    Have you recently been fired or laid off? What warning signs did you notice before you got the axe? Tell us in the comments below!

    More by this author

    The Productivity Paradox: What Is It And How Can We Move Beyond It? The Pomodoro Technique: Is It Right for You to Boost Productivity? How to Diagnose the “Phantom Cursor” Issue on Your Mac Extreme Minimalism: Andrew Hyde and the 15-Item Lifestyle 6 Easy Tips for Living with 100 Items or Less

    Trending in Work

    1 Feel like Giving Up? 16 Way to Help Entrepreneurs Stay Motivated 2 How to Quit Your Job That You Hate and Start Doing What You Love 3 8 Things to Remember When You Don’t Know What to Do with Your Life 4 Master These 10 Management Skills to Become a Strong Leader 5 17 Things You Need to Know to Achieve Career Success at Any Age

    Read Next

    Advertising
    Advertising

    Last Updated on October 16, 2018

    How to Quit Your Job That You Hate and Start Doing What You Love

    How to Quit Your Job That You Hate and Start Doing What You Love

    Everyone of us has a plan in our head that was taken over by family responsibilities, social pressure or sheep mentality. This made us a slave to instant gratification and started killing our plan and dreams.

    There is a way to revive your plans and dreams and live a happier life. No amount of salary can exceed your desire to do something that you are really passionate about.

    If you hate your job and have thought about leaving your job, here’s how to quit your job and start doing what you love:

    1. Identify if you really want to quit to follow your passion

    There could be many possible reasons to figure out why you are discouraged to go to work and start thinking about how to quitting your job. Figure out the reasons or signs that make you feel that you should really quit your job.

    If these reasons are not related to your office environment or your ultimate goal is to pay your bills from your job, you should consider getting a new job in the same field. It’s better to be an experienced receptionist than to live a dream that is not yours.

    2. Start with the side hustle and keep it going

    Work after you get back home and build up your product or service enough to gain confidence to quit your job.

    Build the website, write down the business plan, design your product, make marketing collaterals or do whatever it takes for you to start working full time on your new venture before quitting your current job.

    You could also consider part-time working opportunities if your current job sucks a lot of your energy. This way you could save your energy and dedicate more time to your side hustle.

    Ensure that you don’t quit until your new venture really demands your full time dedication. You might lose interest in your new venture if you fall short of survival money.

    3. Save enough to pay your bills

    If you need to pursue your passion, you need your monthly bills to be taken care of, without any worries. You must cut down on unnecessary expenses and squeeze in those extra bucks on your savings while you are at your current job. You should forget those weekend parties and social outings unless they’re meant for networking.

    It makes no sense to quit your job without having any savings. Your new venture will not start paying you immediately. Starting a recurring deposit account is a good idea to start off with. Put aside a considerable amount every month as soon as you get your paycheque and forget about that money until you quit your job.

    4. Write down your goals

    It is important to have visual proof and a daily reminder of why you quit your job and started a new hustle.

    Advertising

    Write down your goals and read them at least once a week. If you are a forgetful person, create cell phone or desktop wallpapers of your goals and set them until you achieve them. Visual proof keeps you on track.

    These goals are the bigger picture of what you wish to achieve in your pursuit to doing what you love.

    For example, if you are wish to design the best dresses in the whole state, write it down. If you wish to fly to Mars, write it down. If you really wish to give up your career for something, it better be worth remembering everyday. Show it to yourself daily.

    5. Make a plan

    Write down a plan of action for the next 12 months. It’s like writing down an elaborate execution plan in your calendar. This could be a daily, weekly or monthly to-do list of your tasks to achieve your goals.

    Learn how to make a plan if that’s not your area of expertise. Ensure that you know what you’re going to do next and not run like a headless chicken after two months of working for yourself.

    Review the plan time and again to track your progress. This will give you a clear picture of your performance and your shortcomings.

    Also, have a backup plan. Even great planners and strategists fail before achieving success. Ensure that you have a second plan if your first one does not work out as you predicted.

    6. Get professional advice

    Talk to experienced people in the field you want to venture out. Go to networking events and connect with people in your industry. Most people will help you out with good advice and good contacts.

    Get professional courses in part time colleges. It could be great to network and the teachers can be of great help to understand more about the industry. They will help you analyse your plan and connect you to influential people.

    7. Prepare yourself to put a resignation

    Prepare yourself mentally to quit your job after you’ve realized the potential and prepared yourself to take a deep dive into your new profession.

    Leave on a friendly note. Don’t make enemies with your bosses. These connections could help you further in your profession.

    Don’t burn the bridges. It’s better to have a face-to-face conversation with your boss or reporting manager than sending a surprise mail.

    Advertising

    Tell them sincerely about your new venture and why it is important for you. Serve the notice period completely and work till the last day. Complete all your tasks as you would on a regular day. This will maintain your respect and keep your relationships intact.

    8. Be prepared to get your hands dirty

    As an entrepreneur, you have to do everything that’s needed to keep your work going.

    You have to perform all the tasks needed to keep your new venture going. You have to be a janitor, an administrator, an accountant, a designer or a salesperson all at once.

    There would be a point of time where you will have to perform tasks that aren’t your favourite. Be ready to perform such tasks without cringing.

    9. Have no baggage

    Don’t have a debt! Clear all your loans, debts and pending commitments before starting off. You want to fully concentrate on your new activity and not be bent down by loading your shoulders with any burden.

    You would want to enjoy your freedom to work incessantly. No distractions whatsoever are allowed to come close to you when you are fully involved in the rhythm of development. Shun away materialism!

    10. Don’t be in two minds

    It’s good to analyze the best and the worst possibilities in your head, but it’s not at all good to doubt yourself.

    Move ahead with confidence. It’s your life, your plan and your rules. Nothing and nobody can stop you from doing what you wish to do.

    The more you start getting noticed, the more people will point fingers at you. Don’t let them affect you and create doubts in your head. As William Shakespeare said,

    “Our doubts are traitors, and make us lose the good we oft might win, by fearing to attempt.”

    11. Learn to handle failure

    You are going to be a loser and it’s a good thing! If you fail and lose, you will learn to not repeat your mistakes and make yourself stronger with every punch you throw out.

    It takes time till you start losing. The key is to not be demotivated by failure. The more the failure, the more closer you are to success.

    Advertising

    12. Try your hands at investing in stock market or cryptocurrency

    It’s a good way to keep your side income rolling in. While you are busy building your dream project, you could invest your money in the stock market or cryptocurrency and let it grow while you sleep.

    As Warren Buffet famously quoted,

    “If you don’t find a way to make money while you sleep, you will work until you die.”

    Find a good stock broker who has enough experience to not lose your money. Stop immediately if you are losing a lot of money. Don’t burn away your money.

    13. Keep a healthy routine

    It’s easy to forget about your health when you are working on something that you’re really passionate about. Set reminders about your health routine.

    Exercise! Most successful people start their day early and take time out to exercise at least thrice a week. It helps you give more energy and time to your work.

    Always remember that you started your new venture to be happier. Bad health will not let you enjoy your success.

    Join yoga classes or learn meditation from youtube. Avoid sitting too long at one place for more than 15 minutes at a stretch, take breaks. take a walk, especially up-down the staircase as much as you can to skip age related joint pains and muscle atrophies.[1]

    14. Enjoy your days off

    Taking a break helps your creativity and clears your mind from clutter. You need your days off to come back afresh and take on your tasks. You can’t be working 24/7.

    Remember that being able to take your days off is one of the beneficial quirks of an entrepreneurial journey. You can have a routine designed by yourself, for yourself.

    Take your days off when you are too stressed and can’t think straight. Self-discipline might sound simple but practice takes ages. Schedule down time for yourself.

    15. Take these steps to quit your job without burning bridges

    Resume.io has this infographic about the steps you should take after you’ve decided to quit your job:[2]

    Advertising

      16. Remember why you quit your job

      Lastly, remember why you quit your job and started doing what you love. There would be bad days that will make you regret your decision, but don’t let them dominate the reason why you took the plunge.

      Your soul wasn’t happy with what you were doing. Your new venture is what you always wanted to do.

      Never forget that.

      If nothing works out, you could still go back to any job you want, but at least, you’d be spared from regrets and constantly arriving “What if?” question in your head.

      So, start now and live without any regrets.

      Execution matters more than thought. Turn your dream into a reality starting today. Start small and grow big.

      Besides, it’s never too late to do what you want to do. Here’s the proof:

      How to Start Over and Reboot Your Life When It Seems Too Late

      Featured photo credit: Pexels via pexels.com

      Reference

      Read Next