Displaced Executives Face Special Challenges In Job Search
By Kevin Smith© Pasadena Star-News, Sunday, April 25, 2004
They say it's lonely at the top. And when you are an high-level corporate executive who is out of work, it can also be particularly tough to find a new job, according to Nancy Reynolds of Lee Hecht Harrison, a global career-management services company.
Reynolds, senior vice president and general manager of the company's Pasadena office, said corporate chiefs often stumble in their job search because they are used to relying on their leadership team and subordinates to carry out their vision.
"Rather than being lazy of negligent, they are completely consumed with the big picture,' she said. "Their jobs require that be be strategists and visionaries while others do most of the hands-on work. But once they lose their position, they no longer have these people to turn to.'
Unemployed corporate executives also tend to put too much faith in the broad-based network of contacts they established when they were employed. Many assume that network will automatically make things happen once they are in transition, Reynolds said, but that is not always the case.
"You have to manage your own campaign and make very specific requests in order for most people to be able to help you,' she said. "Many of our C-level clients mistakenly think asking makes them look weak, so we have to show them that connecting with and involving people is actually a sign of strength.'
Gary Kaplan, president of Gary Kaplan & Associates, a global executive search firm based in Pasadena, agreed it generally takes longer for displaced executives to find work than it does for rank-and- file employees.
"The apex of the triangle is narrow,' Kaplan said. "There are far fewer jobs out there when you are CEO or high power executive, and it usually takes longer to land your next job.'
A typical executive job search takes anywhere from six months to a year, according to Reynolds.
"We do see some people get jobs in four months, or it could be as long as two years,' she said. "They really need individual and customized coaching. Our executive-direction program is designed for C-level employees. We offer specialized training at our hubs. The Southern California hub is in Irvine.'
Kaplan said things are beginning to look up.
"The job climate now is improving,' he said. "It's better than it was in much os 2001 through 2003, but there is another factor here. CEOs have become increasingly more expendable. The blame-finding process begins when earnings or investor expectations are not met. Very often, the CEO is the one who gets the fickle finger fate pointed at them.'
As a result, corporate executive need to be more careful because they are under more scrutiny then ever, according to Kaplan.
