November 2009
Not surprisingly, many organizations today are faced with the realities of having to let go executive team members in response to unprecedented, economic pressures. Faced with a highly competitive marketplace that includes larger pools of candidates vying for sparse opportunities, leaders must prepare for a marathon. With executive transitions easily approaching 12 months or longer, the response of those being impacted is more fear, anxiety and anger. As a result, organizations are taking a second look at the transition support services they offer and are electing to invest in sizeable, executive, career-transition programs that provide more serious assistance and long-term connectivity. Today’s dynamic, executive transition plan often includes the following contemporary practices:
Reengineering. Leaders are being asked to reengineer themselves to be responsive to the fact that the work they have been doing is no longer available or the offerings are meager. The new realties may require them to shift industry or professional fields. They now unnaturally must rethink what their definition of real work is, the spaces where gratification turns up, and profess a new declaration of what success looks like. This requires a careful and thoughtful process that enables discovery, provides perspective, and reengineers a compelling message.
Exploration. Transitioning leaders need time to look at all the work options available to them, including entrepreneurial pursuits, consulting contracts, and interim project work. Many face a playing field void of opportunity. They are called upon to explore territory where they haven’t typically looked, including avocational interests, latent work experiences, and discipline changes. Through meaningful exploration, executives are able to apply innovation to identify transferable proficiencies that can bring value to emerging business opportunities and alternative industries. Exploration offers the executive the time for reflection and a chance to connect with previously unforeseen possibilities.
Compromise. Leaders once in high demand and able to command their own price are now being forced to compromise and adjust to meet market offerings. In order to clearly articulate and maximize their true value, they must possess a deep understanding of self and the needs of the buyer, so the dots of opportunity can be connected. During a lengthy program, transition support assures timely perspective and encouragement during the critical decision-making times, so all options are weighed against accurate market value, core beliefs and aligned with long-range goals.
Redirection. Leaders must be clear of their unique leadership contributions and the types of organizations that respond to it. It’s human nature for an individual to take their best strengths for granted and overlook successes. Career transition requires that they take responsibility for re-messaging their core skills to connect to the bona fide and compelling value being offered to the buying audience. Over the long haul, leaders will be asked to make significant course corrections in order to capitalize on opportunity.
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Outplacement decisions are an inescapable part of doing business, especially today. The task of transitioning leaders is fraught with challenges. Organizations weigh fiscal, moral and social responsibility mandates to determine the right course of action. The challenging and unprecedented times call for a second look at the traditional outplacement support of days gone by. In its place is a relation-driven, innovation-centric, longer-term support investment that adds meaning and value for the executive in extended transition.
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