By John Myers
Even in a strong economy, executives face many challenges when searching for a new position equal to their talents.
In a hot job market, business leaders might question whether they need to provide transition support for their outgoing executives and if so, how much. Unemployment is down. Companies are clamoring for good talent. “Surely, they will find something quickly?”
A Lengthy Job Search for Transitioning Executives
But is this so? According to a December 2018 U.S. Bureau of Labor Statistics report, the average unemployment duration was 21 weeks. As an employee climbs the career ladder, it takes them even longer to find a position on par with their level and skill. For many executives, it is not unusual for their search to last for longer than a year.
The average executive required 50% to 66% more time to land a new position than the average professional in 2018 as reported by Kensington International and Career Partners International, leading providers of outplacement services.
Hot Market Or Not, Career Transitions Are Stressful
Regardless of job market conditions, a transition can be difficult, and even the most accomplished executives need support. Many are not prepared for the emotional challenges of dealing with a job loss, the technical difficulties of conducting a job search at their level, and the motivational struggle of sustaining an extended search.
Expert Advice Relieves the Pressure of an Executive-Level Job Search
Kensington International’s Executive Career Coaches are specially trained and equipped to partner with professionals at the top of their careers. In today’s hot but very competitive job market, Executives need:
- Help to navigate the emotional challenges during a transition
- A customized marketing plan and social media strategy to market their unique value proposition
- A strategy for exploring alternative career options, such as a Board opportunity, entrepreneurship, consulting and/or retirement
- Introductions to key connections
- Strategies to negotiate their next package
Using the latest job search technology, executives in a Kensington International transition program can perfect every detail of their branding materials and interviewing techniques.
This combination of expert counsel and cutting-edge tools is why 99% of executives who had Kensington International as a choice in career transition providers chose Kensington in 2018.
A Smooth Transition for Your Executives is Good for them and Your Employer Brand
A lack of guidance and support could prove detrimental to an Executive’s morale and your employer brand. Give them the support they need to move on in their careers and Executives are more likely to find a new role quicker and speak more positively about their time spent with your company.
If you are deciding whether to provide executive transition services, consider that it can be just as stressful and challenging to find a new role in a “hot” market. Sure, there may be more opportunities in an expanding economy, but the competition is tight, and the process of finding the right opportunity can be complicated. Having an experienced executive career coach by their side is just the partner your executive needs and a smart investment in strengthening your employer brand.