The Vanishing CEO
According to the FT Weekend newspaper (28th/29th September 2019) article “The vanishing CEO shows shareholders can still call the shots” … Last year there was more turnover amongst chief executives at the top 2,500 public companies, than at any point since 2000 when the company Strategy&, a PwC consultancy business, started collecting statistics. A new record is likely this year.
So, what can this mean to you?
It comes as no surprise to many, that when there are changes at the top, those changes tend to cascade down through senior and middle management teams. A newly arrived CEO will often bring in his or her own past industry contacts with them and/or after a short evaluation process decide to refresh the current team leading to some existing team members finding unexpected changes forced upon them.
Sometimes this will be good changes, with promotions and extra responsibilities but it also can lead to bad changes such as redundancy, termination, demotion, sidestepping & early retirement.
So what can you do to prepare - and how can you determine when you might need to act?
First it is good to ensure you are fully networked not only internally within your present employer but also within competitive businesses and/or companies operating in related sectors who might have a need for your capabilities and experience. How do you do this - well inviting people to connect with you on LinkedIn is an immediate priority, join all focused LinkedIn Groups and follow the Company LinkedIn pages of the afore mentioned businesses. Be sure to like, follow, share and comment on relevant published articles and papers thus increasing your profile and expertise, become known to those that can help you in the future. Attend trade shows and networking events, enter trade competitions or awards. Start a blog.
In reference to your timing, and apart from water cooler/office gossip, In parallel do your best to understand how your present employer's business is prospering or not as the case may be - download the most recent accounts, look at industry data on the web about your company versus the competition, read all press releases - understand your products and services to the best of your ability to understand where you are likely to be standing versus the competition. Review your present companies M.A.C.'s (moves, adds and changes) - is there a freeze on recruitment, does investment seem to be slowing down, are benefits and perks being reduced, when was there last a pay increase? Has your line manager been planning your promotion and increments?
Additionally our recommendation is to always be ready for the expected and prepared for the unexpected. Have your latest CV in Word ready to hand and uploaded to your account with Mood Group. Make sure your multiple preferences are set and your automatic vacancy alerts switched on. Check you are following all our social media channels, to ensure you are receiving, not only all our current vacancies but also trade news and latest thinking, this might also relate to your current employer or target employers too.
It is better to be ahead of the news and have held some interviews, determined your current market demand/worth and received some offers to accept, than to be starting that process when matters are not quite so favourable. Practice preparing for interviews and have answers ready to classic questions such as "what are your strengths and weaknesses"? - "what was your career plan to date?" - "why are you seeking to make a change"? and "what values do you bring to a new employer"? also Know what you like, and know what you don't like, after-all you don't want to jump from the frying pan into the fire.
Success is the journey - not the destination and change can always be an opportunity rather than a threat. Be focused, keep calm, have your strategy and follow it. Believe in your self and your values and remember good always comes out of bad.
Please share this article with all those you feel would benefit equally from the advice.
LinkedIn Company Page: https://www.linkedin.com/company/mood-group/
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Facebook Company Page: https://www.facebook.com/MoodGroupJobs/
Facebook Jobs Group: https://www.facebook.com/groups/jobsprintingandpackaging/
About the author: - Marcus Doo is a Managing Partner of Mood Group the specialist head-hunters / recruiters to the Print & Packaging sectors.