Job Searching for Senior Executives
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Initial Shock
Senior candidates who've been made redundant can often experience a greater deal of shock than junior candidates. They are often people who've helped build and develop their companies and so feel indispensable. Also they may have become settled in their role and find it difficult to move into a completely new role.
Boosting Morale
Despite their wealth of experience the impact on their confidence can be immense and they will need some morale boosting and coaching on how valuable their experience really is.
Managing Expectations
On the flip side of this many senior candidates have a high sense of their own importance and therefore may take time to realise that they will not necessarily walk into a similar job to their last one. Managing their expectations is a delicate and lengthy process. It is about changing their mindset to a totally new set of circumstances.
Interview Preparation
Senior candidates tend to be out of practice for interviews and benefit greatly from interview preparation in terms of packaging and marketing their experience. Through their seniority they tend to have great experience of interviewing staff however this does not necessarily translate into knowing how to sell themselves.
Stereotyping
In many cases if they have been in a company for a long time senior candidates can easily become institutionalised. This can lead to stereotyping by others or themselves in a narrow function. To combat this, senior candidates need to be made aware of this perception so they can be prepared for it at interview.
IT
On the technical side some senior candidates can have allowed their technical skills lapse (Excel, word, etc) as they have been more strategically focused. This can be a serious hindrance if they have to take a step back in their next role. The good news is that these are areas where candidates can up-skill and they should be encouraged to do so if needed.
Package
Senior candidates tend to have expansive remuneration packages with DB pensions, retention bonuses etc which have been built up over time in buoyant market conditions. From the start of their job search their remuneration expectations in relation to package need to be managed so they are realistic.
Networking
Senior candidates need to be realistic about the most likely way they will find a role. They tend to have a huge amount of personal contacts in the market at a senior level. This is a massive resource which should not go untapped and needs to be networked aggressively. If their peer group are made aware of their availability it is more likely they will hear of a relevant role and get in contact before it is advertised widely. This gives the candidate the advantage of applying to the position before other candidates, as well as being referred by a senior member of staff and not being an unknown applicant. There is a greater than 50% chance that they will get a new role by this avenue.
Changing Direction
Senior candidates tend to have a broad range of transferable skills which in theory can be matched to a different role at a similar level elsewhere. However in the current market they will be up against candidates with direct experience. If a senior candidate changes direction they would probably have to take a cut in salary initially.
