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Company Failing
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Company Failing
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Hi All:
I can really use some advise from all of the pros on this board. I am currently working as Payroll/HR for a company that is quickly going down the tubes. I feel a great deal of loyalty to thi
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Company Failing
posted at 7/21/2007 4:25 AM EDT
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Posts: 7
First: 4/2/2007 Last: 7/13/2010 |
Hi All:
I can really use some advise from all of the pros on this board. I am currently working as Payroll/HR for a company that is quickly going down the tubes. I feel a great deal of loyalty to this company and my heart is telling me the right thing to do is tough it out and stay till the end. Others that I have talked to are telling me to start looking now, it is better to find new employment while you are employed. Although I am not prive to all of the details of the companies problems, I know enough to know that the next 2 months will be critical in determing its future. Have any of you ever been in this situation and how did you handle it. Thanks for your help. Ann |
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Company Failing
posted at 7/22/2007 6:57 AM EDT
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Posts: 3870
First: 2/12/2002 Last: 11/2/2009 |
Loyalty is a great thing and much appreciated by employers. However, how much will this loyalty cost you if a) you're unemployed for 2 months or longer after the company folds, and b) who'll be there to appreciate the loyalty when it does?
The prudent thing, IMO, is to put your resume out there and start looking. The employment process generally takes a minimum of 4 weeks from time of first contact and it'll take another couple of weeks for you to be contacted by employers. 6 weeks minimum to find a new job makes it an ideal time for you to start looking if you're looking at the company being open for only another 8 weeks. |
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Company Failing
posted at 8/6/2007 9:30 AM EDT
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Posts: 4
First: 1/25/2007 Last: 8/14/2007 |
I know several HR people who offer less $ to an unemployed candidate than they would to someone employed with the exact same skills and experience because "the candidate needs a job so will take less money).
I think it is foolish but that is the way it is. Much easier to find a job when you are currently emplyed. You have the luxury to pick and choose the right move for you instead of grabbing the first offer because you need immediate cash. |
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Company Failing
posted at 8/7/2007 1:58 AM EDT
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Posts: 237
First: 7/10/2007 Last: 8/31/2011 |
"Been-there-done-that" more than once and the above posts are correct. Have yet to have a former employer come back and thank me for hanging in there. Although several co-workers have, because I put together exit kits to help them transition to new jobs.
By all means do what you can for the sinking ship but it's time to start an aggressive self-marketing campaign for yourself. Good Luck |
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Company Failing
posted at 10/10/2007 10:11 AM EDT
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Posts: 34
First: 8/2/2000 Last: 6/22/2011 |
I'm late to respond, but I wanted to answer since I was once in exactly the same position. I had been Manager of HR for a firm for almost 10 years, the last year of which the company had been struggling financially. Things progressed from bad to worse and it seemed clear that the company would go under. I too was very loyal as I loved these people and the company (it remains my favorite job in a long HR career). I really struggled with this decision but finally started a job search. It took me almost 6 months to find a good job elsewhere. My old firm lasted about another 6 months and then suddenly folded and those still there when this happened were not paid for their final two weeks of work. So if I had stayed "loyal", not only would I have had a long employment search ahead of me, I wouldn't have been paid for work already completed. I strongly urge you to begin your job search now. Good luck. |
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