Now That The Hot Tech Companies Have Cooled Off, Seek Out Safe And ‘Boring’ Firms

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Instead of chasing after marquee-brand-named companies in sexy sectors, start looking into firms with a strong balance sheet that are profitable, have a top management team and offer products and services that make sense in this current turbulent environment.

Before you interview at a company, conduct due diligence on the organization. Read articles about your target company to ascertain if there are any red flags. Look to see if the organization has been laying off workers or plans to downsize. Is the company’s stock doing well, or is the share price plummeting? If you are not comfortable reading financial statements, find someone who is, as you don't want to jump aboard a sinking ship.

See if you know anyone who works or was previously employed at the organization. Ask for their honest opinion of what is happening and how safe it would be to work there. Check out the LinkedIn profiles of people affiliated with the company you are interested in. You want to see if there is a pattern of people steadily leaving without hiring new personnel.

When you interview, ask tough questions. In this current contracting economy, it’s reasonable to inquire about the company's financial health. If you are interviewing in person, try to get a vibe check of the people. You want to decipher if they look happy or pensive, worried and nervous. If an offer is extended, get everything in writing. Make sure that there is a fair severance package and extended health insurance, so you won’t be financially vulnerable when you’re in between jobs.

 

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