Business Shut Down Indicators
Below are the indicators which can help you in case the business is going to shut down
- Salary cuts are planned, and Perks are eliminated. Salary cuts mostly start with top management who takes the pay cuts first and ripples down to all the employees. Also, if the company used to be a generous workplace that starts having fewer parties, outings, and happy times these all indicate that the end is near.
- A noticeable sign will be resignations at the top level; as you might have heard when a ship starts to sink all the people start deserting it.
- In case if the communication flow changes, if earlier most of the communication used to be verbal or in-person but now happens formally via email then it’s a strong sign of something is wrong.
- If vendors or partners start creating noise as they are not being paid.
- If good leaders start to leave the organization, while the not so good ones stay that’s a strong indicator as well.
- If the organization used to be quite open but now starts having secretive closed-door meetings. If you ask what the meeting was about, and you receive vague or clear false responses things are going south for sure.
- The company implemented unusual cost-cutting measures which were never the part earlier.
- If no one cares about what work you are doing, if you are watching YouTube or on Facebook all the time, that is a clear sign of No work present in the organization.
- If no new requirements or projects are being signed. There is no visibility of the product roadmap or work beyond 2 – 3 months.
- Core Product not doing great in the market and as explained earlier new customers are not turning up
- You need to be more cautious if you are working in startups as history says more than 90% of startups fail, the reason could be many, but the reality is that they fail!
- Hiring’s are canceled or suspended.