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"C" Suite Executives Transitioning to New Careers: Challenges and Opportunities
by Jim Norwine
Top executives who find themselves in a job search face some unusual challenges. They wonder if they are marketable since they must compete with so many others in the same situation. They often worry that their contacts on their extensive list may not be able or willing to help redirect their careers. Every transitioning executive has repeatedly checked voicemail and email to find no responses from inquiries made to close associates and friends. In the back of the older executive’s mind, there is a lingering concern that they may be viewed as past their prime or, worse yet, that they will become a victim of age bias. The best advice here is, “It happens. Forget it and move on.” While all of these scenarios are possible, the truth is these very talented people can definitely leverage experience, industry knowledge and other abilities honed over a productive career to attract attention in the market and find a meaningful and rewarding next career.
And so, "Now What?"
That’s a fair question. Accept the challenges and get started. Up front, it is important to understand that being in transition at mid-career or later may be an opportunity to consider doing what was not possible previously. In short, these executives are free not only to return to what they have always done, but they are also free to use their considerable experience as a stepping-stone to reinvent themselves.
Options are varied and include:
− Returning to a similar position at another employer either in the same or a different industry
− Public sector employment, public office
− Considering entrepreneurial opportunities
− For-profit or not-for-profit board memberships
− Consulting full-or part-time
− Teaching
− Returning to school to qualify for other careers
− Retirement
− A combination of any of the above
Whatever the direction, the following practices are important:
As with any career search, it is crucial to network, talk, mail, email, telephone, text and join social networking groups to learn what is possible, available and personally interesting. Joining clubs, industry/professional groups, volunteering in the community, talking with alumni groups, political and other community contacts are important, too. Friends, relatives, neighbors and former associates should not be overlooked. In short, contact anyone who can assist in defining possibilities or opening doors.
OI Partners will soon release a Senior Executive Transition Program:
Recognizing that CEOs and other "C" executives have unique needs, OI Partners has developed a highly individualized program segmented for various levels of top executives. It is designed to be high-touch and comprehensive and will offer features that include:
− A range of assessments with expert feedback
− Peer networking groups and sessions with recognized experts on a wide range of topics delivered geographically limited only to "C' level candidates
− A network of OI Partners and program alumni with industry or professional expertise available on a nationwide basis for support and consultation.
− High-tech personal marketing services
− Assistance with entrepreneurial pursuits including financing, developing business plans and addressing legal issues.
− Guidance for nomination to boards of directors
− Identifying top recruiting sources and, above all, key introductions and invitations to relevant business and community meetings
− Financial and life planning services to the executive and significant other
− Office facilities and support personnel
− A dedicated coach with top-level executive experience will coordinate all program components available seven days a week
Jim Norwine is managing partner of OI Partners and co-founder of ExecuGroup, Inc. A native Californian, Jim spent over 20 years with Bank of America in senior operating and human resources positions. He was Director of Employee Relations for the bank's Southern Division and its 37,000 employees. He served as Senior Vice President, Human Resources Executive for FinanceAmerica, Bank of America's largest operating subsidiary with offices nationwide and in Canada. Jim has served as Chair of the Human Resources Committee of the American Financial Services Association receiving the Association's Distinguished Service Award, the industry's highest award given to two executives annually. He was also named Best of the Best presented by the California Governor's Committee for the Employment of the Physically Challenged. He can be reached at jnorwine@oipartners.net.
