It's essential to assess a company's stability before accepting the job offer.
You’re ready for a new job. You’re putting yourself out there to land the next best opportunity for you. But perhaps you’ve also witnessed your friends get blindsided by sudden layoffs. Or, maybe you’ve seen your loved ones struggle to transition into new jobs they want and deserve. And, despite your usual optimism, it’s all left you feeling a bit anxious and helpless about what’s possible for you too.
But, the good news is that even in the midst of so much workplace uncertainty, there are things you can still do to assess a company’s stability so that your next career move isn’t a blind leap of faith, but instead a calculated step towards the fulfilling career you desire.
Research the company’s financial health:
You’ve probably heard that you should do your research on companies when applying for jobs. These days, it’s even more imperative that you take the time to learn as much information as possible about the company, not only to impress the interviewer but also to make sure that the organization is a good fit for you too.
But, while researching the company, don’t forget to analyze the company’s financial standing. Search to see if the company has been mentioned in the news and consider what the articles might mean for the company’s financial growth. Evaluate how the industry is faring overall to get a sense of where the company might be headed. Review the investor relations section on the company website, if applicable, to see if there are any concerns you need to consider before accepting the job offer. Taking in as much insight as you can from what’s available online can empower you to make an informed decision about whether or not the company is in a stable financial place to hire you.
Ask insightful questions during the interview:
Asking questions during the interview is not only a good way to stand out, but it’s also another way to determine if the company is a good match for you. But you have to be careful about the type of questions you ask. Most people typically ask leading questions in interviews. These are questions that hint at the answer you’re hoping for; these questions make it easy for the interviewer to give you the answer you desire rather than the truth—even if they don’t mean to be disingenuous. So, it’s best to avoid leading questions altogether.
Instead, try to ask open-ended questions that allow you to decide for yourself whether or not the details they’ve shared align with what you're looking for in your next role. So, for example, here are some questions you can ask to assess if the company’s in a stable place to hire you: What inspired this job opening? What are the company’s top priorities right now and how does this role support those goals? What are the biggest challenges you hope this role solves or accomplishes in the next three to six months? Asking these questions will help you gauge if the company has a clear focus and direction amid uncertainty. It will also give you insight to help you determine if and how this role supports the company’s vision and long-term goals.
Connect with past and current employees:
If you want to take things a step further, whether you have prior connections or not, consider reaching out to former and current employees at the company you’re thinking about joining. Doing this will give you the candid no-fluff perspective you need to solidify if you’re stepping into the right environment for you. For instance, one of my clients reached out to a current employee at a company she had her eye on, and after one conversation she discovered that while the company might be well-known in the industry, it’s actually disorganized and has a high turnover. In fact, the person she spoke to even told her that he was looking for a new job too.
On the other hand, another client of mine during the pandemic took the time to speak to eight different employees before accepting the job offer, and all eight conversations confirmed that he was making a good choice, which made him excited about taking the job. Of course, you don’t need to speak to eight employees before accepting a job offer. But, by reaching out to one or two, you can discover insider details about the company that you likely won’t find anywhere else.
Sure, taking the time to research, ask insightful questions, and connect with employees might seem like a lot of work, especially when you’re ready to move on from your job search and land a new job. But, the more knowledge you have, the more empowered you’ll be to choose the right company for you that’s not only stable enough to hire you but also aligns with your long-term career goals and desires.
Adunola Adeshola coaches corporate high-achievers on how to take their careers to the next level. She is the author of the guide How to Go From Zero Interviews to Dream Job Offers.
