There’s no denying that you like your job, and you’re more than willing to do everything it takes to preserve the post or even land a promotion at the company. But things surely change. Companies downsize, get new ownership, declare bankruptcy, or go out of business altogether every day.
This could happen to you leading to job loss. That’s not meant to scare you since nothing in life is certain. For this reason, it is important that prepare yourself for worst-case scenarios. This is especially the case when working at a maritime company in Singapore.
While there are many maritime companies in Singapore where you can land a job opening, prevention is better than cure. Look for these signs that your maritime company might be failing to avoid going down with the sinking ship.
Prolonged Scarcity of Clients
You probably already know the saying ‘sharks retreat to deeper water before a hurricane arrives.’ This also applies to maritime companies in Singapore that might be falling down the pecking order. Big-name clients heading toward the exit is a clear sign that something bad is about to happen. When this is the case, you should take up the necessary steps before things get out of hand.
Employees Run for the Door
Aside from losing your esteemed client, you should also be worried if talents are running away from your maritime company. When your best and brightest colleagues leave for greener pastures at other maritime companies in Singapore, it could indicate that your company is floundering. This is mostly the case if they’re not promptly replaced.
The same goes if the company’s executives run for the door. Remember, bodies without heads function poorly. It is also a sure bet that an executive will quickly read disaster in your maritime company’s tea leaves long before you can. So, losing your executives to competitors should be a cause of concern.
Rounding Up
Setting up a maritime company in Singapore is something you should be proud of considering not many entrepreneurs can pull it off successfully. But there is no time for relaxing since the competition among maritime companies in Singapore is on an upward trajectory.
Without making informed business decisions, you risk losing your company sooner or later. Rather than turning a deaf ear as this happens to your maritime company in Singapore, be sure to watch out for the above signs depicting that things might beheading south.