BlueJays2591 profile picture
BlueJays2591 profile picture

BlueJays2591

Federal Business Dev Director

Politicker
Executive
Valued Contributor
+9

How to check stability of a company

With how our economy is and companies laying off employees and rescinding offers, is there a good way to check the stability of a company before accepting an offer? Mid size company so no public Financials. Great reviews from everyone, but im moving half way across the US for the role so not wanting to end up in a bad spot. Is this something I can ask before accepting the offer?

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11 comments

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Kosta_Konfucius
Politicker
5
Sales Rep
Was able to find this

https://hbr.org/2022/08/how-to-evaluate-a-potential-employer-in-a-downturn
BlueJays2591
Politicker
2
Federal Business Dev Director
Awesome thank you. Good info
SoccerandSales
Big Shot
5
Account Executive
I feel like you need to do more external questioning than asking those who are interviewing you. You are more likely to get a bunch of bs when talking to those trying to “sell you” on the role
bandabanda
Tycoon
4
Senior AE Mid Market
Yeah you can definitely ask, I'd just be more specific. Are they hitting revenue goals (they'll always say yes you're looking for hard numbers). What's churn like?

Reaching out to current and past employees on LI has worked well for me. Take everything with a grain of salt but you're listening for consistent themes.
NotCreativeEnough
Big Shot
3
Professional Day Ruiner
I would search their name on google, talk to current and past employees (reach out to them on LI), and really deep dive into how strong you thing the product is in the current market.
Sunbunny31
Politicker
3
Sr Sales Executive 🐰
Another question I have for you is if you are moving to an area where other potential employers are based or where other opportunities may be. Are you moving to a hub, or somewhere rather remote? Just curious if this move may have other benefits (or a safety net) downroad.
ChumpChange
Politicker
2
Channel Manager
It's going to be tough to gauge how healthy a company is without an internal source on the financials.
jefe
Arsonist
2
🍁
Some good recommendations here. Make sure you ask about runway.
TennisandSales
Politicker
1
Head Of Sales
yes you can 100% ask about it. if you dont have specific questions to ask you could always ask:

"obviously the economy is on everyones mind these days, how have you been able to invoke confidence in current employees and other perspective employees like my self that the company will continue to be in stable condition going forward?"

you could then take what they say and dig in a bit.

other questions you could ask:

- have you had to lay people off in the last 12 months?
- does the company anticipate NEEDING to raise money in the next 12 months?
- have there been any hiring freezes or raise's put on hold in the last year?
ThatNewAE
Big Shot
1
Account Executive - Mid enterprise
- Current employee testimonials
- Reviews on Glassdoor for example
- Understand the attrition rate
- A little difficult to understand from the outside, but the 'churn rate'. How many existing customers of this company chose to leave.

https://quickbooks.intuit.com/r/financial-management/7-signs-your-company-has-good-financial-health/

Found this article, I guess this throws some light on the topic.
antiASKHOLE
Tycoon
0
Bravado's Resident Asshole
Be bold and ask upfront.

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