"Executive Career Extreme Makeover", Minneapolis Star
Tribune, August 22, 2005
Can previously
successful executives who have damaged their resumes by job-hopping
get their careers back on track? Yes, if they recognize the flawed
pattern of their decision-making and adjust accordingly.
The 17-year economic boom from 1983 to 2000 was the longest in
U.S. history and boosted the willingness of corporate executives to
move from one company to another, particularly leaving established
firms for early-stage ventures.
But most entrepreneurs do not hit the ball out the park the first
time. Many who leave established firms for start-ups succeed after
several attempts. And some never achieve the same level of success
they did in their corporate careers.
Scandals aside, no one job move will seriously injure an
executive's track record. As an executive recruiter who assesses
candidates' work histories, I am open to rational explanations
(communicated non-defensively) for why a particular job move didn't
work out.
But what is the "resume repair" strategy for a previously
successful executive who "swung for the fences," say, three times in
four years, taking a series of positions that ended without
significant accomplishment?
The solution, in baseball terms, is simple: If you are in a
slump, stop trying to hit home runs. Shorten your grip, and focus on
making contact and putting the ball in play.
Here are my four principles of executive resume repair. It is
aimed at executives who consider joining existing firms rather than
at the entrepreneurs who create them.
• Identify the pattern. In most cases, there is
an underlying pattern to a series of unsuccessful job moves -- if
you assess it ruthlessly. Competence is rarely the issue here.
Have you been joining firms that are consistently
undercapitalized? Are you attracted to esoteric technologies without
defined markets? Do you ignore the signs of a dysfunctional
corporate culture until it's too late? In many cases, the risks were
known to you but rationalized away -- "this time will be different."
• Halt the pattern. Confront the decisions you've made and
accept them. Avoid the gambler's temptation of putting all your
chips on another big bet to recoup your previous losses. As the old
saying goes, "If you find yourself in a hole, stop digging."
• Rebuild your foundation. Identify quality opportunities
that will give you the best chance to reestablish your previous
track record of success and stability. Quality in this context does
not necessarily mean prestigious.
These opportunities often will be at firms you might not have
seriously considered in your salad days. Consider good companies
with headquarters in remote locations, which have trouble attracting
first-rate executives from large cities. Apply your skills in an
industry that is less exciting, but more stable, than the one you
grew up in. Or join a firm in your industry that is considered a
second-tier, but stable, player.
• Seek shelter from the storm. The goal is to select an
opportunity with the highest likelihood of three years' successful
performance. Focus on hitting good pitches and getting on base, and
the home runs will take care of themselves. Don't compromise on
stability, ethics or scope of responsibility (compromising on title
and compensation is sometimes appropriate, if the other factors are
met).
Here are four examples of executives who successfully applied
these principles to get their careers back on track.
Marvin - Marvin was
a top executive at a major software company, successful as a vice
president of sales and general manager. But after 15 years with the
firm, he took inconclusive roles at several small software firms. He
wanted to work for a small company, but in the post-dot-com
downturn, he found only more mediocre opportunities.
Marvin wisely became president of a midsize marketing services
consultancy. His operational sophistication was critical to their
surviving the tough post-9/11 economy, and he gained a successful
track record as president of a profitable business.
Terrell - Terrell
was a talented executive who rose to the top marketing job of a
prestigious IT technology vendor. After a merger eliminated his job,
he joined three software start-ups as president. All three had
promising technologies but also were underfunded, in unproven
markets and had dysfunctional founders.
Terrell acknowledged to himself that he was selecting companies
based on the prestige of the technology and title. He accepted a
role as vice president of marketing with a large, rapidly growing
software firm that sorely needed his marketing expertise. The
position required his moving cross-country, but he remains there
five years later, having been promoted several times as the company
has continued to grow.
Randy - Randy was a
fast-rising corporate mergers-and-acquisitions specialist who passed
through several companies whose CEOs mismanaged his carefully
crafted acquisition strategies. With his track record in disarray,
Randy joined a respected regional consulting firm and after several
years switched to a first-tier national consulting firm. Eventually
he was recruited by a blue-chip multinational corporation with a
more rigorous approach to corporate growth.
Sally - Sally had
been chief information officer of several large corporations but
developed a reputation as a talented job-hopper. Her makeover
consisted of taking a job as CIO of a Fortune 1000 firm based in a
small Western town. After two years, she was recruited to be CIO of
a large corporation in a major metropolitan area, a role she has
held for more than five years, with much success.
If after this planning exercise your next move still doesn't pan
out, take it easy on yourself. You did your best, and the odds are
favorable that your self-knowledge will lead to better job choices
in the future.