Two companies just pulled their job offers. What's going on?
Maynard Webb
Founder, Webb Investment Network; Author ‘Dear Founder’; Board member Visa and Salesforce.
Q: My son, a professional in his mid-30s, received two job offers at tech companies and both were pulled, citing the business environment. Have you heard of anything like this before?
-Worried Father
Dear Worried Father,
This is an interesting question, which illuminates the kind of climate we’re in.?Pulling job offers does not happen in normal times. Unfortunately, this is an indication we are not in normal times.
I know this is upsetting and unsettling, but your son should not feel horrible, or think that something personal happened to make the company re-neg on its offer. This is more an indicator of the market climate
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I am of the opinion that if you offer someone a job, you follow through with it. It’s a commitment and should be honored. I would like to see companies show more foresight and if they find a great candidate and make an offer, they hold to it. If the company is retrenching, it might make more sense to let go of poor performers and move forward with people with more promise.
That said, if the company is struggling and can no longer pay for this position, or will have to lay off talented people in order to survive, this might have been the only decision possible. Furthermore, this may even be a blessing for your son—this might not be the time to join a company as there’s clear indication that the company could be in trouble.
So, what now? I would advise your son to be super selective when thinking about his next move
The good news on all of this is if your son gets an offer that includes stock, it most likely has taken a recent price hit. Now, he has an opportunity to get in at a lower valuation and when things recover, he could enjoy a lot of upside, which may potentially be life-changing.
Every week I respond to a new question. Ask me your question in the comments section.
Missionary at C T C FREEDOM HOMES AND COMMERCIAL BUILDERS LLC
2 年This Is Why We Hath To Multi-Task, Truly Technology Is Here to Advance Us All in Many Ways. That To Me Is Why education Is Most Needful For Every One. Every One. This Is Nothing New. When American Citizens Wake-up and Take Hold Of Live, America Will Return To The True Land Of The Free and Brave. Wake-up People ! Forgive Me For Saying It , This Is What We American Citizens Have Allowed and Done To Ourselves. Until We All Come Together In Respect Of One Another ! We Given In To Selfishness. Wake-up People ! Robbing Our Selves Of The True Freely Given Gift Of Life, Free To Everyone. It Your Life. Selfishness Will Not Allow You To Love Yourself. Respectfully Yours, Selfless
? Manage Organizational Change ? Drive Positive Cultures ? C-Suite Advisor ? Executive Coach ? Work Futurist ?Rebel HR ? AI
2 年Maynard Webb This is excellent advice for both the individual searching for a new role and for companies extending offers! Rescinding offers due to sudden change in direction is not good business. For the job seeker who has an offer pulled, you are being saved from a culture that does not value talent. It is not a reflection of you. It is the craziest of times; where companies and people tend to panic. Change is our only constant. If we can be prepared for change… To be resilient, open, forward thinking, regarding anything that comes our way, we will better adapt to all of the changes we are facing.
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
2 年It could be hard finding Qualified candidates.
Owner @ Webicom, Inc. | Generative AI, New Business Development
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Technical Manager/Partner Manager/Sr. Account Executive/BDM
2 年Happened to me too and after a lengthy process of a referral questionnaire process. 5 references had to go online and confirm experience. They pulled the position before everyone completely but I had to go back to my Executive references and apologize. Embarrassing!?It was a 4 week, multi interview process as well for 6 figure position.