76% of Senior Executives report they’re miserable in their roles…here’s how to change that.
For the first time in 50 years, job candidates control the market! Why are many executives feeling dissatisfied in their current role? Much of it is because senior leaders and executives become so busy setting and executing strategy with their teams, they don’t take the time to design their own career strategy. What are you currently doing to proactively manage your career?
In this podcast Kelli McCauley, President of McCauley & Company talks with Mark James, author of Keys to the CSuite, Executive Recruiter, Founder and President of Hire Consulting, about specific strategies and actions to take now to keep you relevant and known, when you decide it’s time for a career move.
Give yourself an advantage and keep your network alive.
Most executives are working so intensely on creating and helping their teams execute on the organization’s strategy, they make the mistake of not tending to their professional network. Once you’ve achieved professional success, maintaining and continually expanding your network is imperative for a rewarding career arc. Be sure you’re making a consistent effort to connect monthly or quarterly with people already in your circle and add to your network with connections to people from diverse industries, with different perspectives and important expertise. Get active in an association aligned with your goals, like; Corporate Directors Forum, Biocom, Financial Executives Incorporated.
Beyond that, continue to cultivate your “trusted 12”. These are 12 people you trust implicitly, who will act as your personal Board of Advisors. These are the confidants you will reach out to when you decide it’s time to explore advancing your role or moving to another great opportunity.
When it’s Time to move, Give Yourself the Edge
At your level, competition is fierce, even in a Candidate’s job market and it’s likely you haven’t interviewed in years. Give yourself an edge by working with an Executive Recruiter or Executive Career Transition Coach – someone who knows the transition period well and can guide you around common pitfalls. In our interview and in his book Keys to the C-Suite, Mark James discusses how to win the role through extensive and deliberate preparation such as crafting and rehearsing your Reason for Looking (RFL), plus succinctly telling the story of what you do and how you make a difference.
An Executive Recruiter or Career Transition Consultant will coach you on how to create and present an outstanding positioning statement, how to catch the interest of organizations you want to join, and how to gain a competitive edge in the interview so that you don’t end up being the number two or three candidate. An effective Executive Recruiter is well versed in negotiation tactics and will help you get the best compensation and benefits package possible.
Give yourself the Best Odds of Success in Your New Role
The best Executive Recruiters know you are facing a high stakes opportunity in your new role. Research from B2C indicates that 40% of new executives fail within the first 18 months. No one hires an executive expecting they will fail, but what have they put in place to ensure you will have the best odds of success?
Executive Recruiters often negotiate for coaching packages to be included in the job offer. With current stats showing it costs over 200% of an executive’s annual salary to replace them, it’s smart money. Asking for 18 months of leadership coaching becomes an invaluable investment by getting you on the fast track in your role of creating and executing strategy with your executive team, connecting the culture of the company to achieve results and enabling you to perform at your best.
In this current ‘candidates market on steroids’, now is the time to put these strategies into action, advance your career and continue delivering impact as an experienced Executive. Whether considering a change in an organization, looking to uplevel your current responsibilities or are currently in transition, these tactics will stack the odds in your favor as you proactively manage your career.
In your career, as in life, there are no shortcuts. However, you can align with an executive coach that can reduce the potential mistakes that you will make along your career journey.
To find out more about how McCauley and Co. can help, click here.