Mastering mid-career transition E-Book

Risto M Koskinen

• Herausgeber: Books on Demand
• Kategorie: Ratgeber
• Sprache: Englisch
• Veröffentlichungsjahr: 2024

Seitenzahl: 125

Beschreibung

Are you a mid-career professional seeking change? Mastering Mid-Career Transition offers a comprehensive guide to navigating career pivots with confidence. Discover eight essential perspectives and proven tools to anticipate, navigate, and thrive in career transitions. Craft a vision for a balanced life where work aligns with your values. Harness tools to cope with the emotional rollercoaster of career transition. Assess your life course, career phases, and values. Identify and leverage your unique skill set within a broader context. Uncover opportunities for value creation and research potential new roles. Embrace the narrative of a professional pivot and develop your brand. Explore unexpected career possibilities and chart a sustainable trajectory. Master strategies for effective professional relationships. Risto M Koskinen, MBA, widely known as #CoachRisto, is a career transition coach and strategist with a proven track record. With a rich academic and practical background in education, social work, and business administration, and more, he brings a unique blend of expertise to his coaching practice, grounded in evidence-based strategies and a solution-focused approach. Whether you're facing a career crossroads or seeking to guide others through their transitions, Mastering Mid-Career Transition offers invaluable insights and practical tools for lasting transformation.

Leseprobe

My sincere thanks to all my clients and connections on LinkedIn.

How you have challenged and supported me has provided the knowledge I curate in this book. Many of you have also shared insights and comments, which have been extremely valuable.

It would be a list of several pages if I were to thank you all personally – and it would be unfair to many if I were to list just the closest connections.

But there is one person I want to name:

Sonal BahlCareer Coach MBA (INSEAD)

You encouraged me to start creating content on LinkedIn in May 2020, supported my posts, and shared your insights. You have also shown me the value of consistency through your weekly #SuperChargeFridays.

Therefore, this book is dedicated to you, Sonal. I feel privileged to be able to call you my friend.

TABLE OF CONTENTS

About this book

INTRODUCTION

1. ANTICIPATING THE CAREER PIVOT

1.1. Domain Harmony

1.2. Framing Your Career

1.3. Career Success

1.4. Self-Portrait

1.5. About Resilience

2. THE EMOTIONAL IMPACT OF A CAREER PIVOT

2.1. The Change Curve

2.2. Reframing the Experience

3. CHARTING YOUR CURRENT STAGE

3.1. Life course and meaningfulness

3.2. Tracking your values

3.3. Multiple forms of career capital

3.4. Critical career review

4. CONDUCTING A SKILLS INVENTORY

4.1. Skillset compass

4.2. Quantifying the non-quantifiable

4.3. Skills in a general context

4.4. Making your skills visible

4.5. Skill trajectory

4.6. Area of distinction

5. CREATING NEW VALUE

5.1. Pivotal and proficient roles

5.2. Hybrid competencies

5.3. Tentative career pivot plan

5.4. Discovering new value

5.5. Finding your distinctive competence

5.6. Becoming first in a hundred

6. IDENTITY SHIFT

6.1. Identity change as a process

6.2. From intial to adopted identity

6.3. Identity jolt due to layoff

6.4. Career narrative

6.5. Pinning your narrative

6.6. Drafting your narrative

6.7. Negative self-talk: reframing the narrative of professional failure

6.8. Your personal brand

6.9. Authenticity

6.10. Fake it till you make it?

6.11. Clarity of purpose

6.12. Consistency of values

7. SURVEYING YOUR OPTIONS

7.1. The game has changed

7.2. Planning for future

7.3. Unorthodox specialization

7.4. Crosshair approach

7.5. Finding your One thing

7.6. Career constellations approach

8. EXPERT NETWORKING

8.1. Network Map

8.2. Professional networks

8.3. Weak ties or structural holes?

8.4. The quality of your network

8.5. Getting the best out of your networks

8.6. Mid-career networking

Epilogue: FROM SKILLS TO IDENTITY

About the Author

List of Exersices

Exercise 1: Domain harmony

Exercise 2: Role map

Exercise 3: Framing Your Career

Exercise 4: Your Career Story

Exercise 5: Self-Portrait

Exercise 6: Change Analysis

Exercise 7: Reframing

Exercise 8: Multiple-level Analysis

Exercise 9: Six Items

Exercise 10: Charting Your Career Capital

Exercise 11: Critical Career Review

Exercise 12: Seven Successes

Exercise 12: Skillset Compass

Exercise 13: Quantify the non-quantifiable

Exercise 14: Skills in General Context

Exercise 15: Skills Descriptions

Exercise 16: Skills Development Descriptions

Exercise 17: Area of Distinction

Exercise 18: Creating New Value

Exercise 19: Plan for Your Intended Role

Exercise 20: Hybrid Competencies (1)

Exercise 21: Hybrid Competencies (2)

Exercise 22: The House Model

Exercise 23: Review Your Ideal Job in DWR Framework

Exercise 24: Creating Your Distinctive Competence

Exercise 25: Review Your Emerging Identity

Exercise 26: From Initial Identity to Adopted Identity.

Exercise 27: The Building Blocks of Your Career Narrative

Exercise 28: Create Three Outlines

Exercise 29: Dimensions of Authenticity

Exercise 30: Finding Your Why

Exercise 31: Value Clock

Exercise 32: Your Springboard Approach

Exercise 33: Alternative Futures

Exercise 34: Options of Specialization

Exercise 35: Crosshair

Exercise 36: Constellation Review

Exercise 37: Reviewing Your Current Networks

Exercise 38: Create Your Connector Role

Exercise 39: Analyze Your Current Network

About this book

This book covers eight perspectives on career transitions faced by mid-career professionals. Each perspective has tested and proven tools you can use to prepare for or deal with the transition.

If you face or plan a career transition, this book is for you to smoothen your pivot.

A word of caution, though. If you are looking for quick tricks to help you land a job, this book is not for you. I take it for granted that, as a mid-career professional, you are looking for a meaningful career pivot. Therefore, my approach is holistic, considering the life course in general.

The examples are mostly coaching-related. Please modify them to fit your professional context.

The tools – and exercises – included in this book are challenging, especially in the first three chapters, and probably need visiting several times.

The journey this book takes you through unfolds as follows:

INTRODUCTION

describes the changed career landscape and emphasizes the importance of proactive career management.

ANTICIPATING CAREER CHANGE

helps you to create a vision of a balanced life where work is just one – essential but still just one – part of it.

THE EMOTIONAL IMPACT OF A CAREER PIVOT

introduces you to the change curve and provides tools to cope with the emotional turmoil.

CHARTING YOUR CURRENT STATE

is about the big picture: your life course in general, career phases, career capitals, and your values. These pave the road to critical career review.

CONDUCTING A SKILLS INVENTORY

helps you to recognize your skills, position them in a larger context, and find your area of distinction.

CREATING NEW VALUE

guides you to find value-creation possibilities and research your intended new job.

IDENTITY SHIFT

shows you how a professional pivot is an identity change with a new narrative and personal brand. We also tackle the issue of identity jolt due to layoffs.

SURVEYING YOUR OPTIONS

offers you tools to find unexpected possibilities and steer you toward a sustainable career trajectory.

EXPERT NETWORKING

will boost your networking strategies by distinguishing between different networks and how to nurture them.

EPILOGUE: FROM SKILL TO IDENTITY

reminds you about the changed landscape of the job market, where performance and identity have become crucial.

I have marked the exercises with this icon.

INTRODUCTION

Facing a career pivot is often – but not always – due to organizational restructuring, layoffs, or a failure to meet standards.

However, apart from these reasons, a career pivot may be necessary e.g.

1. when a parent is returning to the workforce, but the previous job doesn’t exist anymore,

2. when your present job doesn’t align anymore with your values and passions, and the dissonance feels unbearable,

3. when your present workplace is toxic (e.g., bullying or unhealthy competition) and creates a threat to your health,

4. when your present industry is heavily downsizing and you have to make a cross-industry transition, or

5. when your career has stagnated, and there’s no chance for advancement in the current job.

The pivot may be either planned or forced. When it is intended, you don’t go through such an emotional turmoil that is often the case with a sudden, disruptive, and forced pivot. You also have more time to adjust to your transition. Therefore, proactive career management is the best strategy to increase your career resilience.

Meet two mid-career professionals: Sarah and David

I define a mid-career professional as one who has 10+ years of experience, has worked in 2-3 roles, and has specialized expertise. Their age is somewhere between the late thirties and early fifties.

The stories of Sarah and David are fictitious but resonate with many laid-off mid-career professionals.

Sarah Andersson, age 42,

has a marketing and communications background with over 15 years of experience. She holds a Bachelor’s degree in Marketing and an MBA.

Despite her success as a Senior Marketing Manager, Sarah has recently faced unexpected downsizing in her tech company due to restructuring. This forced career pivot has left her uncertain about her professional future.

Sarah is dealing with the emotional impact of sudden job loss and is uncertain about navigating this unexpected career shift. Given the specific industry challenges, she finds it challenging to identify new career opportunities in the competitive job market.

Sarah’s primary goal is to secure immediate employment stability in a new role that aligns with her skills and values. She aims to overcome the challenges in her industry and explore new avenues where her marketing expertise can be applied effectively.

Sarah values adaptability and seeks to leverage her marketing skills in new and unforeseen ways. She is resilient and is determined to turn this forced career pivot into an opportunity for growth.

Sarah is a typical coaching client who feels lost and insecure but is motivated and determined to take responsibility for her career. Another story is David’s.

David Thompson, age 48,

has a background in finance, working for over 20 years in investment banking and corporate finance. He holds a Bachelor’s degree in Economics and a CFA designation. Despite his success as a vice president at a financial institution, David is currently facing a forced career pivot due to downsizing in his department. The sudden restructuring has left him contemplating a new professional path.

David is experiencing emotional burnout from his high-stress finance job and is uncertain about how to navigate this forced career shift. He yearns for a career that aligns with his values and provides a sense of purpose, but the current situation has disenchanted him.

David’s primary goal is to find a role that promotes a healthier work-life balance and reduces the emotional strain he’s been experiencing. He aims to transition into a role that ensures financial stability and aligns with his desire for a more meaningful and purposeful career.

David values work-life balance and seeks a career that allows him to spend more quality time with his family. He is determined to find purpose and fulfillment in his work, even in the face of an unexpected career pivot.

David’s story is a common one for managers and executives, too. The key theme to tackle is a balanced and meaningful career.

Sarah’s or David’s story could be yours, too, because you are not safe from sudden job loss. Therefore, a proactive attitude toward your career is necessary.

The importance of proactive career management

Three changes affect your employment more than ever in history:

1. the dynamic nature of the modern workplace that forces us to adapt to changes in industries and technologies;

2. the need for ongoing skill development and learning to stay relevant in a rapidly changing job market;

3. the change in the career landscape: gone are the days of “permanent” jobs and careers of one profession.

The new forms of career – say, Protean or boundaryless – require you to take ownership of your careers. This means you must keep yourself up to date professionally, build up your personal brand, and commit to lifelong learning and regeneration.

Career management is a continuous, strategic process of setting and achieving career goals.

Career management also includes

1. conducting self-assessment and performance evaluations to identify strengths, weaknesses, and areas for improvement;

2. building professional relationships for mentorship, advice, and potential opportunities; and

3. recognizing the importance of strategic career moves, such as job changes, lateral moves, or pursuing advanced education, to achieve long-term objectives.

But why this is so important for mid-career professionals? According to The Economic Times, mid-level workers are least valued and most at risk; this applies to mid-career professionals, too. Mid-career professionals also live that phase of their lives where they objectively evaluate their goals, achievements, values, and careers. Being proactive, i.e., ensuring that the change is voluntary, properly timed, and well-resourced, gives a better latitude and more options.

1. ANTICIPATING THE CAREER PIVOT

The best time to plant a tree was 20 years ago.

The second best time is now.

- Chinese Proverb

Do not wait until the layoff but start preparing for the possible – and for most of us a realizing – career disruption now. Later in this book, I will describe several tools you can use, but in this chapter, I will highlight two dimensions: the one I call technical and the other I call mental.

The technical dimension is about, e.g.

1. updating your materials and keeping them up to date: CV, portfolios, etc.

2. following actively job market: trends, emerging demands, risks, competitive landscape, etc.

3. reinforcing your resources: creating financial buffers, activating networks, enrolling in training programs, etc., and

4. crafting your visibility and building up reciprocity.

The mental dimension concerns mindset or a multifaceted approach to work and life. Traditionally, we have spoken about work/life –balance. This implicates a certain dualistic or even contradicting setup and gives the work a disproportional weight.

1.1. Domain harmony

When work is your dominant – and close to only – domain in your life, losing your job feels like an overwhelming catastrophe, which is difficult to recover from. These people – and I have worked with a few of them – lost their purpose, their identity was violated, and their resources to coping were close to zero. Some found no other solution but suicide.

Working as a dominant element of your identity can significantly boost your career. You are motivated and engaged and get deep satisfaction from your work. This enhances your productivity and learning curve, putting (and keeping) you on the fast track.

External signs of your success include, e.g., recognition, social status, and financial stability.

But there are risks, too. You may

see people as disposable,

overemphasize your role at the cost of your team,

neglect important areas of a balanced life, or

have a limited perspective of life’s other domains.

If your exit from a job is planned, you have time to deal with these issues. But if the change is abrupt, disruptive, and disorderly, caused by e.g. layoff, personal failure, or company bankruptcy, the exit will almost certainly

cause an identity crisis,

leave you feeling empty and purposeless,

be a blow to your self-worth,

rip off your status and prestige,

shatter your networks,

deny access to information or people, and

sometimes even stigmatize you.

Consequences can be serious, including

financial stress,

social isolation,

marital and relationship problems,

mental (e.g. depression) and physical health issues, or

dysfunctional health habits (overeating, substance abuse).

Let’s have a couple of numbers here:

the average CEO tenure is 4.9 years (according to PwC),

49% of CEOs have mental health issues, and

their divorce rate is above average (and for female CEOs, it’s higher than for males),

number one reason being lack of time for family.

Therefore preparing for a possible layoff with a domain harmony approach should be your first step.

Exercise 1: Domain Harmony

Start with asking

how can I keep the benefits a single domain dominance creates,

how can I reduce the risks, and

how can I mitigate the consequences in case of the worst scenario?