Is the Company You’re Working for Going Down? The Top 3 Red Flags

Business in West PerthNo matter how cheerful or charismatic your CEO or boss may be, there are undeniable signs that your company may be going under. While there are such things as droughts and dry months, it’s prudent for employees to know when to jump ship or at the very least, look for other options.

Here are the top three things you should watch out for as an employee:

1. Legal Letters

Usually, lawyers don’t address the company CEO directly in their letters for settlements and meetings. Most of the time, these things end up at the front desk or receptionist. If you’re on the ground, it’s important to take note of how many legal documents pass through your hands. Unless you have contracts or clients who are lawyers, these documents are usually collection agents backed by the law.

2. Unpaid Suppliers and Contacts

Billing statements that arrive at the office overdue are sometimes just overlooked expenses that can be paid immediately. But, if you notice that your boss takes these away and you get another one the next week, better start looking for other signs. According to HardiesLawyers.com, the kind  of business insolvency your company should avoid is the kind that makes it a pariah in your industry.

3. Cash-on-delivery Demands

When your boss has started leaving petty cash at the office or asking you to deposit hard cash to your suppliers before you get your orders, your company may have deteriorating business relationships.

4. Lack of Work

If you find that you have less and less to do at work because your usual flow of tasks has lessened but the amount of people working is the same or even lesser than before, then your company is in trouble. 

So, what can you do if you’ve seen all these signs? Talking to your boss may be a good thing to do if you have a participatory, transparent company culture. But if office politics is choking everything up, you may want to find a new job soon.