Is there any benefit in providing outplacement for an experienced c-suite executive?
Emotional and psychological impact
Losing your job is one of the most stressful experiences a person can face, regardless of status. It is ranked third behind death and divorce.
Change affects each of us on a very personal level, and most people, whether they realise it or not, have a strong resonance with their career, particularly when it comes to their self-esteem.
“Self-esteem and self-worth are closely aligned with working,” says psychotherapist Charles Allen. When you have a job, you have a continuous source of feedback that you are a contributing member of society, he says.
Being employed helps you feel wanted and that you’re contributing to your finances, says psychotherapist Elizabeth Lombardo. It gives you social support – “and is a buffer against depression”.
Market conditions have changed
Executives, who have enjoyed the luxury of steady employment and a familiar culture for many years, are often ill prepared to compete with the new and more challenging market conditions.
• Competing with Generations X & Y , who are critical to the future of any country, is often an exasperating process as the characteristics and perspectives between the generations are vast
• The criteria for candidate selection have changed
Education and experience are no longer enough to secure a role; employers are insisting on a broader range of soft and hard competencies to compliment their management teams.
The way new roles are found and secured has changed
Personal networks and handshake agreements are less frequent. The onset of stricter corporate governance, BEE, cultural and gender diversity requirements have resulted in increasingly rigorous recruiting methods.
Interviewers don’t necessarily make good interviewees
Being on the other side of the table is a very different emotional experience, and perspective. It shouldn’t be underestimated.
• As market and employment criteria have changed, so have interview methodologies. Bringing yourself up-to-speed on the most effective practices will give you an immediate advantage
Nobody likes it, but it works. You don’t know what you don’t know – until someone shows you.
Practice makes perfect.