Where Are Executives Likely To Be Spending Their Time Post Employment? By: Tom Casey
The most recent research conducted by Discussion Partner Collaborative supported by the Transition Advisory work of Next Generation Advisory Services (NGAS) has concluded that post-employment Executives will focus their time on 14 areas of involvement.
However, it should be noted that to a person the NGAS clients have indicated “I am going to take at least 6 months off before I even think about it”!
We will spare you the sentiments expressed regarding the impending trauma due to be visited on enterprise supported Blackberry’s and iPhones during their post-employment hiatus.
14 Areas Post-Employment Involvement
As you peruse the below list of 14 areas, PLEASE keep in mind that the most likely strategy will be a portfolio of 2 to 3 initiatives each with a part time commitment focus. The Executive will “rebalance the portfolio” on a regular basis in three areas:
- New Role/Alternative Employer-The role architecture is most likely an interim managerial slot for a predetermined period of time. A recent HBR article, The Rise of the Supertemp provides an excellent foundation for appreciating this strategy
- Consultant-This role would be to act as external advisor on a project basis either through affiliation with a firm and/or at the request of those in the Executives network
- Entrepreneur-A number of Executives want to experience a creative process by “starting a venture” either aligned with previous career interests or “entirely different”
- Board Member-This is the most popular pursuit, however it is also the one where those Executives whom are not already on Boards, acknowledge that they need a sensible strategy to “get out there to be in demand”
- Personal Investor-These Executives want to be “Angel Investors” in start-up companies where they would also provide expertise and take a proactive role in governance
- Start Up Initiator-This is differentiated from Angel Investor and/or Entrepreneur in that they want to transform into a role that is more like a Venture Capitalist
Intellectual Pursuits and Physical Fitness
- Academics-This pursuit is most likely as an Adjunct faculty member however a number of our clients do plan on accepting “Emeritus” positions
- Author-A small number of clients do have ideas for Articles, White Papers, and Blogs. To a person however they appear to want to focus on “the future of” issues and/or present their thoughts on impending trends in their domain
- Higher Education-Some Executives want to complete suspended academic pursuits or “remain edgy” by attending Executive programs
- Arts-One surprising finding from NGAS Advisory work are the number of Executives whom have truncated their artistic abilities in Music, Theater, Interior Design or Artistic expression they want to resurface….a case in point is the client who wanted to be a “Rock Star” who is now doing session work in Tennessee
- Sports-A common refrain we here from Executives is the need they feel to “get back in shape”. Their focus is to intensify the time they now feel they do not have and focus on their exercise regimen
- Political Involvement-Executives for the most part would say their political aspirations have been channeled into fundraising and superficial domain related advice to date while acknowledging they would make “terrible candidates”. Where they do want to “get in the game” it is either in pursuit of local or statewide office.
- Philanthropy-Many Executives manifest a desire to subsidize and or raise monies for “worthy” NGO’s that are in the area of personal experience or interest
- Social Responsibility-Executives have the most generous interpretation of this area inclusive of a) volunteerism, b) advisory, c) governance or in many cases creating an NGO that focuses on a personal area of interest
What is clear from Discussion Partner research and Next Generation Advisory client experience is that today’s executive has no intention of rocking away the day waiting for Happy Hour!