Is It Time To Leave Your Company?

Part of managing your career is to keep a close eye on what’s going on in your company.  By keeping current with the health of your organization and industry trends, you will know in advance the things that could potentially affect your job.  

 

There are many people who ignore the indicators that their jobs could be in jeopardy, only to find themselves among the masses looking for work.  In hindsight they wish they had left in the early stages of the warning signs. 

  

Here’s our Take Five on when it may be time to leave a company:

 

1. Downturn in Your Industry – We’ve all seen what’s happened in financial services.  While this is an extreme situation that no one could have foreseen, there are frequently telltale signs when an industry is having problems. Clearly, if a giant in the industry is suffering, it’s only a matter of time before the others follow suit.  Stay informed on the latest news in your industry.  Read Fortune, WSJ, etc., to learn what the analysts are saying and predicting.  If all sources are predicting the same dire future, you may want to consider changing industries.  Long term factors negatively affecting your category will not change any time soon.
2. Company is Acquired – Some people make the mistake of waiting to see how things shake out after the transition has occurred.  The danger is that your role may be eliminated due to duplication.  Once it is imminent that your company will be acquired, it’s smart to be proactive and start exploring your options.
3. Key Customers Leave – Customers are a bellwether for the health of your company.  When key customers start bailing and they are not replaced, it’s easy to do the math.  Losing significant revenue will start having an adverse effect on the company, which will eventually have an impact on your job.
4. Key Initiatives & Budget Cuts – It’s one thing if your company has moved into a different strategic direction, it’s quite another when they pull the plug on  projects that are key to the company’s future growth.  What might seem like stagnation is actually losing ground.  On a smaller scale, you may have just received word that your marketing budget has been cut.  If you are witnessing cuts across all departments, it’s a sign that the company is tightening its belt which may be a precursor to layoffs. 
5. Senior Management Exits – First your CFO resigned, then the CEO took a position in another company and a bunch of VP’s with them.  You would be amazed at how many people will stay in a company with this kind of siren warning.  When senior management starts exiting, the writing is on the wall. 

There are many reasons why people ignore the signs of when they need to look outside their current company.  Some believe things might turn around and hope for the best.  Others are in denial and keep their heads in the sand or feel it may be premature to start looking until the dust has settled.  If you are sensing the company may be changing and that your job may be on the line, take the initiative and start the process of exploring your options.  If it turns out your job is still secure, you will at the very least know more about your options outside the company, even if you don’t need them now.

Copyright 2008 Whelan Stone. All rights reserved.

Whelan Stone

Should You Escape the Clutches of Oracle (or any other acquiring company)?

Ever wonder what you would do if your company was acquired by a company you didn’t like? 

 

That’s what many people at our client Hyperion Solutions had to recently consider when Oracle acquired them last month.

 

The mood at Hyperion before that was upbeat.  After all, they were in sexy BI in the right hand corner of Gartner’s Magic Quadrant and approaching $1 billion. Things felt great and then Oracle called.

 

Some of the Hyperion employees just went through this in 2005 when Oracle bought Peoplesoft (ouch!).  What do you do when you feel Oracle’s culture – or any other acquiring company’s culture – is not right for you?

 

Your first reaction may be to bolt for the door as fast as you can.

 

Not so fast!  It’s worth taking the time to assess your options.  If you are fortunate enough to be considered for a position within the new company, you should seriously consider it.

 

A lot of people make the mistake of assuming, “If I go to the acquiring company, I’ll be miserable.”  Like an iceberg, 90% is hidden underwater.  The 10% at the surface might not look good, but what about the rest?  What they should be asking themselves is “Would I be better off giving the new company a try?”  

 

We think yes.  And here’s our “Take Five” why:

1. In the short term, you will maintain your employment. It’s always easier to get a job when you have a job.

2. By joining the new company, you continue to receive a steady paycheck. This is critical if you have expenses like a mortgage where an interruption in salary could be devastating.  A steady paycheck is better than severance pay!

3. You’ll meet new people and expand your network of contacts within the industry.

4. You will be working with some smart people. The acquiring company didn’t get in the driver’s seat because they hired dumb employees.

5. By adding a successful company to your resume, you’ll increase your marketability.

What many people forget is that in the long run everything is short term.  As someone who was about to join Oracle said: “It’s not a life sentence. I am free to leave at any time. And I know that recruiters are always trying to pull people out of Oracle, because the company has a strong management team.”   This woman was smart, looking at her options from both career and short term perspectives.

So try and put your emotions aside when you are confronted with the alternative of joining a company in which, at first blush, you would not want to work. Instead, treat it like you would any business problem – analyze the options available and carefully weigh the alternatives.

 

Heard any rumors about your company lately?