I am set to begin a job with a boutique consulting firm this summer and just heard from some people the firm was struggling with one of its offices and has had to do some restructuring. I haven't heard anything about this directly from the recruiter.
This led me to question what signs should employees look for to determine if their company is struggling? Specifically, if they work for a private company and the management isn't exactly letting financial information flow down to entry-level employees? Thanks for any input!
Low utilization rates, lots of non-reimbursable activity, lots of folks heading for the exits. Use LinkedIn to find the company under previous firm and see if it looks like people are fleeing.
Any cost-cutting type initiatives as the firm isn't winning as much business and needs to "tighten the belt." Things like layoffs of less important employees or scaling back of previously elaborate firm activities (e.g. what used to be a weekend retreat at a high-end resort has turned into a nice dinner night).
Pretty much this.
I don't know about consulting, but this is happening pretty much all across finance. Every bank does layoffs and restructurings to some degree, even mine (which is trying to grow its presence). That being said, those are good watching signs for some industries, but not others.
They stop back-filling employees that left and just spread the work on the remaining
High turnover. If people dislike their jobs so much that they're leaving way earlier than expected, that's a problem.
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