The company is based in a vastly growing market in energy conservation consulting and has a nice corporate suite ans structured website.
The leadership at the company has a vision but lacks a viable business plan to achieve that end goal. The employees are basically "thrown to the lions" as how to conduct an analysis and formulate reports for clients. At the company's peak in the spring of 2010, they had 14 employees. Currently at the time of this review, it has been reduced to 1/2. Many others have been hired only to be fired within 2 months because the company does not conduct a thorough background and reference check on new hires.
The largest issue was meeting monthly employee payrolls. One example was that the leadership wanted to open a satellite office and hired additional staff but the payroll for the existing staff was delayed between 4-6 weeks. During that time the employees were given a song and dance on when they would be paid and that the company was financially fine. Some employees that have been released have yet to be paid for their services.
Advice to Management
Have a viable company plan and have enough liquidity to meet payroll. The company should always meet payroll regardless of the company plan. Also when/if the company makes a turnaround, they should not scrape the bottom of the barrel when hiring more staff. They need to hire competent people and thoroughly vet them to ensure they can perform to the requirements of the position.
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