Dear WW: My company says it’s doing fine. But I know other companies are doing big layoffs, which makes me nervous that we could be facing layoff-city and not even know. How can you tell if your company’s in trouble? SINKING SHIP?
Dear SINKING,
Every industry has its own way of spelling trouble. In TV, for instance, it’s often spelled “shiny.” I learned this when I taped Working Wounded segments for the local ABC affiliate. One day the cameraman said that my forehead reflected light better than the rescue mirror he’d had as a Cub Scout, and hustled me to the station’s makeup consultant for a primer on foundations. Now I’m the proud owner of a “sand beige” compact (and secure enough in my masculinity to tell you about it!)
When it comes to cosmetics however, I pale in comparison to most corporations. They are the real pros at make-up, and it takes more than cold cream to get under the polish and learn what’s really going on. I’ve made some suggestions below for how you can do it. Also check out Andy Sherman’s book, “Running and Growing Your Business” (Times, 1997).
Does your company have too few clients? If one client comprises over half your business, they’re not a customer-they’re your boss. How dependent is your company on the whims of a single customer?
Does your company have enough cash? Late paychecks are a sure sign your company’s struggling, but you can spot problems long before that by noting if key projects are getting short-changed. Critical initiatives put on hold often indicate poor cash flow, and as I’ve said before, cash flow is more important than your mother.
Does your company tolerate poor performers? Every company has a few slackers, but when they’re the rule instead of the exception, you should be concerned. Companies today don’t have to be mean, but they do have to be lean.
Is your company doing a bad job of managing its accounts receivables? How together is your company at getting the money it’s owed? Make friends with someone in accounts receivable to see if they’re collecting what’s due.
What is the press saying? As a columnist, I’ll be the first to admit that the press isn’t always right-but neither is your company’s PR department. Read everything you can get your hands on about your company because the truth may come from outside.
How does your company manage information? Cash flow is more important than your mother, but there’s something even more important than both: how your company manages information. If the majority of the computer systems at your company still can’t communicate with one another, it’s probably time to find a company that takes information seriously. Because today the ability to adapt is largely based on managing information.
All employees should make the following compact: I won’t take my company’s position at face value ever again. Instead, I’ll do some homework so I won’t get taken in by appearances.
Working Wounded poll:
Which movie title best sums up your feelings about your company’s future prospects?
- Fantastic voyage, 25.2%
- Ordinary People, 30%
- Apocalypse Now, 44.7%
Working Wounded strategy:
Our winning strategy for determining your company’s future prospects comes from Buffalo in cyberspace. “I think your column missed the simplest sign: bad morale. Does everyone look either pissed off or depressed? Do you hear cynical comments and caustic laughter coming from the lunchroom? Are cubicles sprouting posters that say, “You obviously have mistaken me for someone who gives a damn”? Is sick time, or just unexplained time away from work, way up? Are people arriving late and leaving early (and the supervisors are too dispirited to say anything about it)? I’ve been there a couple of times, it’s a sure indicator that it’s time to start sidling toward the exits, before the stampede starts.”
Bob Rosner is a best-selling author, speaker and internationally syndicated columnist. Sherrie Campbell is a relationship and business professional, having applied her counseling background in a variety of challenging organizational settings. They’d love to hear your thoughts on this topic, especially if you have better ideas than they do. Also check out their complete column archive at workmash.org, “The Boss’s Survival Guide” and “Gray Matters: The workplace survival guide.” Send your questions or comments to bob@workmash.org.
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