With the recent collapse of Blue Chip investments in New Zealand, the obvious biggest loser has been the investors. However, there is often a forgotten party within that mix that get adversely affected when organisations fall over and that is the employees.
Working for an organisation that does not succeed can affect your ‘employee brand’ no matter what position you hold within that company.
The recruitment process from an employer point of view and the methodology behind finding candidates with good clean backgrounds is becoming tighter and tighter. Good employers will reference check, credit check, run a criminal history and even use online searches to ensure that they are mitigating as much of the risk as possible when coming on board.
From an employee perspective I often come across situations where a prospective employee is more concerned in their basic needs in a role (i.e salary, location and job title) rather than finding out anything beyond that.
We spend more of our ‘waking week’ at work, however, when it comes to choosing a new workplace often not much is done to find out about the organisation that you are looking to work for.
However, when we buy a car or a house, often we will get a number of reports and summaries on the suitability of that purchase. We will compare options, prices, performance, location, etc…
In the case of Blue Chip and the related organisations I am not sure whether there would have been alarm bells for potential employees when joining these organisations.
However, in terms of doing your due diligence there are a number of ways to research both the financial position, culture and management style of an organisation such as:
- ask the prospective manager if you can reference check them
- call people within the industry
- seek out people that use their product or service and find out about that experience
- discuss with your recruiter their experience with the organisation
- ask for their financial statements
- conduct an online search to see what blogs or other information exists about the organisation
- if they are listed look at their recent share history
- speak to current employees and find out their experience
- use the final interview to interview them – what is their vision, values and goals?
No matter what your role within an organisation, if that company is involved in any dodgy activity and this is made public then this could affect your ability in gaining your next role.
It is important to know the good, the bad and the ugly when going into the organisation. Often when applying for positions you hear the good, it is up to you to find out about the not so good and ensure that your expectations about that company are set from day one. This way there will be as little surprises as possible and you will keep your career on track.