Are you in a senior leadership role and considering your next move? Maybe you’re looking to transition from your business, and you’re not sure what you would like to do next? Whether you’re thinking of moving to another leadership role, retire, or start a brand-new venture, you will benefit from a plan of action and the confidence to take those vital next steps.
Recognising your self-worth
You may be undecided about whether it’s time to retire, move on, or start something new. Your decision-making process may be clouded, due to your perception of self-worth. For example, you may be wondering what value you bring to the business. You may feel under pressure from other colleagues, who appear to bring new ideas, ways of working and technology into the business.
Over time, organisations change and sometimes it feels like the right time to move on. Before you step away from your business, consider what might be next? Often, it’s about finding the right avenue for you, so you can put your valuable skill set and experience to good use.
Your accumulated experience and skill set may enable you to move to a new role in a different company and even a different industry. Be aware of imposter syndrome; thinking that you are not able to do a type of role because you’re not good enough. In fact, most industries have roles with transferable skills.
For example, within the utilities sector or rail industry, there are many parallel positions that have an almost identical transferable skill as a role requirement. Transferable skills are often utilised across completely different sectors, so never rule any out before carefully researching.
Senior managers and directors may find they have a suitable set of skills and experience to become a non-exec director. You may not have been a director for your current employer, but you may have run or been on boards. If this is the case, you are likely to have the capability to be on an executive board.
Look at your experience and, if you’re unsure, then talk through your options with a qualified coach or mentor.
Choosing a work-life balance
Another scenario is when you’re in a senior role and you’ve decided that you don’t want to go up. You might want a better quality of life. You may be thinking that you need to go somewhere else to achieve this goal or you’re considering starting your own business. For example, one of our past clients – let’s call him Martin (anonymised) – was in a very senior role working for a big organisation.
Martin had said, “I don’t want to go up, I want to go elsewhere. I don’t know where and I don’t know what I want to do, but I want to explore this further and think about what’s right for me. I’ve got my family and I have a new partner, so I want to spend more time with them. I want a better quality of life. I want to make these changes into a new, different type of role. But I don’t actually know how to do this because I’ve been working in my role for many years.”
In the first instance, Martin may benefit from exploring his existing network for possible opportunities. If necessary, he could also look at building some new, valuable relationships, which may generate fresh ideas and help him reach his goal.
Networking for opportunities
When people are exploring their options, they can easily find themselves networking anywhere and everywhere. Networking can be useful when you’re transitioning from a role. When it comes to networking, less can often be more. You will get far more from your efforts, if you make time to follow up with people after each meeting, rather than simply attending multiple events. If you are looking to network, then assess how you’re choosing the right places with the right people.
Succession planning for retirement
If you’re looking to retire, then you may be thinking about how you can transition out of the business. How can you create a ‘win win’ situation that has a positive outcome for you and your organisation? Have you explored ways that you can limit the impact on the business? Do you have an exit plan? The key to effective succession planning with minimal disruption to your operations is a solid exit strategy.
Consider the following:
- When and how do you have ‘that’ conversation with your line manager about your retirement plans?
- What’s the right approach to take, so you can achieve the best outcome?
- How can you secure a succession plan
that aligns with the needs of the organisation?
Even in a small organisation, you may be working with somebody whom you feel is suitable to take over your role. If you work within a family-owned business, this scenario may resonate with you. It’s important to know that the person you are planning to take over from you is someone you trust enough to take the reins. Managing your succession in the right way will give you the confidence to move on.
Working with senior leaders
When we work with senior leaders, who are looking to change career, retire or run their own business, we draw from a toolbox of skills and experience. We tap into a range of consultancy, coaching and mentoring techniques to help our clients make informed choices about their career path.
Our focus is to enable you, as an individual, to recognise your own self-worth and resilience as a leader to help you make decisions with confidence. We will help you identify any transferable skills, so you can consider your options and take the next steps in your leadership career.
Our aim is to help you take the right steps towards your choice of future using a collaborative approach and open-minded discussions. Find out more about how our leadership development and coaching services can help you with your career change – get in touch.