CEO CAREER TRANSITIONS: IT'S
COMPLICATED!
How can CEOs learn the art of dealing with the
challenges of career transitions?
CEOs across geographies experience phases of transitions which
could be involuntary in nature like redundancy or voluntary like
promotions.More often than not, CEOs find themselves in a state of influx
amidst the challenges which are common to all transitions. The fact that they
don't have control over such a phase, especially in cases of involuntary exit,
forces them to get into a different planning zone. Over the past one or two
years, it has been observed that transition periods for CEOs who have been made
redundant tend to last anywhere between 12-18 months, a shift from the earlier
period of six to nine months. Therefore, we can't undermine the need for CEOs
to take a step back and put together a well thought out plan to not just
survive, but also thrive in such periods.
The most important thing that CEOs need to do while facing a major
career transition is to take some time off, introspect and understand their
individual unique strengths. It is thus, imperative for CEOs to think in
retrospect and realise what is it about them that can drive great outcomes for
an organisation they may work for next. However, there are some common
challenges that almost all CEOs and senior leadership executives experience
during the period of transition. Applying some simple coping mechanisms can go
a long way in helping them sail through such phases
.>> ANXIETY:
Any CEO's new corporate avatar often brings in a lifestyle change
leading to a sense of anxiety on whether they would be able to cope with such
changes. This is multiplied in cases when a CEO evaluates opportunities
overseas. The ideal way to manage this is to have a clear understanding of the
new role a CEO might be choosing, consciously plan ahead and start conditioning
themselves to the new lifestyle.
>> IDENTITY
CRISIS:
In most cases, CEOs in transition inevitably think about how the
market would perceive their transition, voluntary or involuntary, and whether
or not this would dent their current market standing. The key here is
preparation and planning.CEOs need to have an understanding of the path they
are taking and how the decisions taken today would affect their career in the
long run. Identifying one's professional USPs goes a long way in helping them
position themselves better to the outside world.
>> REGRET:
Ambiguity, whether it is the right decision or not, always
surrounds the decision of moving out or moving on from an organisation. It is
natural for the human mind to oscillate and doubt its own decision. This is a
phase that is not easy and the CEO should to some extent rely on mentors and
well-wishers to hear their perspective on the move and seek guidance on the way
forward without reflecting much on the past. They need to understand that
rewards are directly associated with the kind of risks they take; hence,
changes always come with a rider. So, as long as they are aware of the
challenges, they will be able to prepare themselves appropriately for the
change.
>> FEELING OF
INCOMPLETENESS:
The role of a CEO is quite demanding and full of expectations.
CEOs on their way out of a corporate may feel that they are leaving a job
incomplete and worry about how the employees within the cur rent organisation
would perceive them henceforth. This thought is difficult to come to terms with
and rather than worrying about the unaccomplished, CEOs in such a scenario
should think about the positive impact they have brought within their current
organisation.
This phase also gives them the last chance to take some tough and
critical decisions for the company that might benefit it in the long run.
>> LOSS OF
POWER:
More often than not, CEOs enjoy a position of power. During a
transition, one of their fears is whether or not they would enjoy the same
control over processes, people and ideologies in the new role they are moving
into. Gaining the trust of their new manage ment team and in turn believing in
them is the first hurdle any CEO has to cross, a process that is not only
delicate, but also one that demands time. CEOs simply need to focus on doing
the right set of things and on creating positive energy to get over this
feeling.
Self-reflection and appl ing some coping mechanisms helps CEOs
to best analyse their individual professional journey and prepare themselves
for a new start.
The author is MD, BTI Consultants India Pvt Ltd
ETAS 7JUL15
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