The following is a guest post by Elyse Hartman.
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The worst of the Great Recession of 2008 has come and gone. Unemployment claims are beginning to slowly decrease in number, and there is every expectation that hiring will start to ramp up in the new year. Still, there are signs of lingering problems that may cause you to leave your job. There are many companies considering layoffs, and it’s important to keep that in mind.
Rather than rely on gossip around the water cooler, look for these three telltale signs in your work environment that may indicate your job is in jeopardy:
1. Media Warnings
View the stories in the company newsletter or emails skeptically. It’s doubtful these will be sources of bad news about the company. Instead, follow the stories you see in business weeklies or online commercial news. These can warn of troubled waters ahead, including problems companies are going through. Oftentimes, a media story will hint of a layoff several months before it actually happens, even though the corporate executives publicly deny it.
One revealing sign of trouble is if executives start leaving or unexpectedly announce their retirement. These folks are the first ones in the lifeboats when the ship starts to flounder.
2. Lack of Pay Increase
A number of large companies in the past few years have either granted no raises or increases so small they barely cover the cost of lunch. Even if the economy does improve, if there are signs that your company will continue a no raise policy, it may not be financially feasible to stay on. Such situations mean that the only way to increase compensation is by accepting a salary offer from another company, which may in fact be the best course of action for the sake of domestic finances.
Benefits with the company should not be a reason to stay. Many of these, such as a 401(k), are portable and you can take them along as part of your exit luggage.
3. Limited Growth Potential
In spite of minimal wage increases, you may be willing to stay at your company if you feel your employment provides a growth opportunity and/or an opportunity to improve your skill set. However, as a responsible professional who is concerned about their career, it’s important you be on the lookout for any indication your current position lacks significant growth potential.
Common indicators include: a lack of training opportunities provided, budget cuts that take away the tools necessary for you to perform your job, and a company that has a “promote from within” policy, yet consistently hires from outside. All of these may be signs that advancement opportunities may be few and far between, which makes leaving the company for a better opportunity a wise career move.
Layoffs can come like a black bear charging out of the night; as such, no one should assume they are not expendable. If we’ve learned anything about the economy these past few years, it’s that any job can be terminated without warning. Granted, there was a time when job hoppers were viewed with suspicion. Now, that same suspicion may be directed toward somebody who stays too long on a sinking ship.
If it appears your career may be in jeopardy, it may be time to leave your job. It’s up to you to take charge of the situation and start looking for other opportunities — the sooner, the better.
About the Author:
Elyse Hartman is the owner and operator of a free, educational website for current and aspiring medical coding professionals. Training, certification, and jobs are just some of the topics discussed. She invites you to visit her site at http://www.medicalcodingtrainingcertification.com.
