10x Rescinded Offers

Strategies for protecting your job offer in an uncertain economy and moving forward

It's no secret that job offers are getting rescinded more frequently these days, especially in the current economy. As an employee, it can be frustrating and even devastating to have a job offer taken back after you've already quit your current job and made plans for your new role. It does feel like a “breach of trust” and in some way it is. In this blog post, I want to talk about strategies for minimizing the risk of a rescinded job offer and helping yourself in the event that it does happen.

“At Will” Employment

First, it's important to recognize that "at will" employment laws make it inevitable that job offers will be rescinded, especially in a volatile economy where companies may be considering layoffs. This means that as an employee, you need to be proactive in protecting yourself from this risk. When a company starts to rescind job offers, it's a sign that they are likely considering layoffs. In this situation, you may be able to defer the situation at best. For example, earlier this year Coinbase rescinded a bunch of job offers before executing a mass layoff. Here’s the official update on their hiring plans.

Considerations for H1B workers

H1B workers may face several additional challenges if their job offers are rescinded, including difficulty finding a new job with a short duration (60 days grace period) due to visa restrictions and the need to find a company willing to sponsor their visa, and potential effects on applications for permanent residency or citizenship. Losing a job offer can be a difficult and stressful experience for H1B workers, and it is important for them to be extra prepared (perhaps more cautious) and have a plan in place in case this happens. It can be advantageous to consult with an immigration lawyer who can help tailor various strategies based on your specific situation.

Do Your Research

One of the best ways to do this is to start vetting the company during the interview process. Scour online forums like Blind for potential red flags, and don't be afraid to ask the tough questions of the hiring manager (HM) and the recruiter. It's always a good idea to be upfront with the company about any potential red flags that you come across during your research. For example, if you see that the company is going through a difficult financial period or if there are rumors of potential layoffs, it's better to bring this up during the interview process rather than waiting until after you've accepted the offer. By being open and transparent about these issues, you can give the company the opportunity to address any concerns you have and to reassure you that your offer will be protected. Pay attention to the answers you're given and read between the lines - if something feels off, trust your gut and keep your other job offers and leads warm. It's important to keep in mind that the HM or the recruiter may not always be aware of potential uncertainty within the company, or they may not be able to openly communicate it to you for various reasons.

Periodic Check-Ins

Once you've accepted the job offer and before you resign from your current position, it's a good idea to have periodic check-ins with the company to get a sense of how things are going and to ensure that your offer is still protected. This can be done over the phone or in person, and it's a good way to drive mutual accountability between you and the company. A couple of days before you're set to resign, it's a good idea to have a one-on-one conversation with the HM or someone in a leadership position at the company. During this conversation, it's important to ask for the offer validity to be put in writing. This will prompt the company to check with senior leadership and ensure that your offer is still good. If things look positive after this conversation, then it's safe to go ahead and resign from your current position.

Have a Plan B

If you start to get any red flags at any step in the process or if you have a feeling that things aren't going as planned, then it's a good idea to tap into those warm leads and other job offers that you've been keeping on the back burner. You might also consider taking more drastic measures such as exploring other career options or even starting your own business. Whatever your plan B may be, it's important to have one in place so that you're prepared in the event that your job offer is rescinded.

Utilize Your Network

When your job is rescinded, it is important to reach out to your network for support and assistance. This may involve contacting friends and family members for emotional support, reaching out to professional contacts and connections for advice and job leads, joining professional networking groups and attending events, and utilizing social media platforms like LinkedIn to connect with others in your industry.  Another thing you can do is to be proactive in building relationships with your future colleagues and team members. This can be done through networking events, participating in online forums, or even just by reaching out to people within the company and asking to connect with them on LinkedIn. By building these connections, you'll be able to get early access to potential opportunities, a better sense of the company culture and the overall stability of the organization, which can help you make a more informed decision about whether or not to accept the job offer.

In summary, it is important to do research on the company during the interview process and to ask tough questions. H1B workers may face additional challenges if their job offers are rescinded, including difficulty finding a new job due to visa restrictions and potential effects on applications for permanent residency or citizenship. Having periodic check-ins with the company before resigning from your current position and having a plan B in case things don't work out can help to minimize the risk of a rescinded job offer.

~10xManager

Illustration by David Espinosa