Five Strategies for Success in the Future of Work

Market conditions change swiftly and often, and the ability to adapt agilely to the disruptions of an ever-changing business landscape has served business leaders well in recent, highly turbulent years. Yet, more valuable is the ability to think strategically about the future of work and to chart a course to deliver impact come what may.

It can be difficult to know with certainty where to prioritise efforts, expend energy, or allocate time and resources. Where do you scale up or double down? How can you deliver impact in the short term while laying the foundations for long-term organisational and professional growth? Our experts have highlighted the following 5 areas as top strategic priorities for executives’ and businesses’ future-planning success:

1. Embrace Skills-Based Hiring and Upskilling: In the World Economic Forum (WEF) 2023 Future of Jobs report, companies identified improving talent progression and promotion processes (48%), offering higher wages (36%), and offering effective reskilling and upskilling (34%) as key business practices that can increase the availability of talent to their organisation. Six in 10 workers will require training before 2027, but only half of workers are seen to have access to adequate training opportunities today. Businesses must consider investing inwardly to futureproof their existing talent to satisfy skills shortages over time, while executives in transition should invest in their own skill-building initiatives to differentiate and add value. Assess the needs of your industry or role and focus on communicating how you honed those specific skills to be relevant for the future. Where possible, benchmark against other executives at your level and determine where you might be able to develop an edge.
2. Commit to Continuous Learning: In a working world where the skills required for success are constantly evolving, it is paramount that senior executives continue to evolve as well. Employers surveyed in the WEF’s report estimated that 44% of workers’ skills will be disrupted in the next five years. The report also found that ‘analytical thinking’ is the most in-demand skill for the future workforce, followed by creativity, AI and big data capabilities, leadership, resilience/agility, and curiosity/lifelong learning. Whether you’re a seasoned executive who is secure in your role or if your career is in transition, investing in your skills and professional development is always worthwhile. Staying current and adaptable in an ever-shifting business landscape will serve you and your organisation well.
3. Embrace Technology and Automation: It’s no wonder that technological literacy skills rank high in the WEF’s list of skills on the rise as businesses adopt digital technologies such as Generative AI to enhance productivity and strengthen their competitive edge. Rather than resisting this essential element of the future of work, you would be better served by working to understand it. For those amid a career transition, consider upskilling in digital tools and technologies that are in high demand. Come to grips with how this technology is reshaping your industry, job function, or target employers and think strategically about how you could potentially leverage it to make an impact.
4. Cultivate an Inclusive Mindset: Alongside the digitisation of the workforce, we are also seeing shifts in human demographics. With professionals staying in their careers longer and influxes of young talent joining the working population, cross-generational communication and collaboration will become standard in the future of work. This has always been the case, but the stakes and considerations have changed as prior to now, we have not seen five generations simultaneously well-represented in the workforce. Knowing how to navigate the generational divide, communicate effectively, motivate and align these different groups, and drive peak performance will be critical components of future leadership.
5. Lead with Purpose: In the wake of economic hardship, climate concern, geopolitical tensions, and social division, purpose-driven decision-making should be front of mind for many executives. This can be a fine line to walk, with harsh reputational consequences for those who get it wrong. To avoid this, clearly define your mission and values and communicate them well. Demonstrate your commitment to social and corporate responsibility not just in your words but by aligning your actions with these principles.

The dynamic nature of the world of work demands that senior executives and organisations not only keep pace with change but also anticipate it, positioning themselves for growth and continued impact in the face of uncertainty. Establishing strategic priorities will prepare you for the challenges ahead and empower you to thrive in the ever-shifting landscape of the modern business world.

As a senior professional looking to secure your next leadership role, the journey can often be marked by a rollercoaster of emotions. You’ve invested years, poured your passion, and dedicated unwavering effort to building a successful career. Now, as you set your sights on a new professional chapter, the desire for nothing less than the best is only natural. However, the path forward may not always align with your expectations, and this divergence can shake your confidence and hinder your progress.

In this blog, we delve into some of the personal challenges you might encounter that can significantly impact your resilience and your ability to achieve a successful career transition.

• Ego vs. Reality: One of the foremost challenges you may confront is the delicate balance between ego and reality. Over the years, you’ve carefully crafted your self-perception as an industry expert and thought leader. However, this self-image might not always align with the perceptions of your industry peers and colleagues. This misalignment can lead to an identity crisis, erode your self-worth, and be disheartening.

To address this challenge, it is essential to cultivate self-awareness and adaptability. Consider seeking quality feedback from trusted sources to re-align your self-perception with the external world. Keep an open mind, explore diverse opportunities, and refrain from fixating solely on specific roles or employers. This mindset shift will empower you to navigate rejection with grace, maintaining your resilience and more confident momentum.

• Passion vs. Stability: The conflict between following your passions and ensuring financial stability can be an intricate challenge. While pursuing your dream job is appealing, the pragmatic considerations of financial security, family responsibilities, and job stability often weigh heavily on your decisions. Balancing these conflicting priorities during a career transition can be emotionally taxing.

Ensure you adopt a strategic approach that looks at both short- and long-term visioning. Assess your long-term goals and evaluate whether immediate stability aligns with your broader objectives. Seek opportunities that offer a balance between passion and security, even if this requires stepping outside your comfort zone. This improved strategic alignment will enable you to make better informed decisions and maintain resilience.

• Long vs. Short Service: Your extensive service within a specific company, industry, or role can be both an asset and a detriment. While long service signifies loyalty and consistency, it may raise concerns about adaptability, agility, and relevance. The rapidly evolving job market characterised by changing leadership requirements, remote work, and global competition adds complexity to your career transition.

For those who have long service, focus on leveraging your tenure as an asset. Highlight your contributions, innovations, and impact during your long service to showcase your value to potential employers. Emphasise how your experience has equipped you with a unique perspective and set of skills that can drive success in a new role. By reframing your extensive service as an advantage relevant for the future, you can maintain your resilience and stand out in the competitive landscape.

• Skills vs. Experience: Whilst we have been seeing a slowdown in executive hiring, competition for talent in hard-to-fill roles continues to be strong. More organisations are aligning around skills-first hiring, with rapidly changing skill requirements leading to a re-evaluation of both the hard and soft skills most valued. This shift can be daunting, especially if you have relied on your extensive experience as a differentiator. Competing with candidates possessing in-demand skills but less experience may challenge your resilience.

To overcome this, prioritise continuous learning and skills development. Assess the skills demanded by the market and invest in upskilling where necessary. Showcase your ability to adapt and acquire relevant skills, bridging the gap between experience and market demands. You can bolster your resilience and competitiveness by staying current and demonstrating your commitment to skill development.

• Market Dynamics: The ever-changing dynamics of the senior-level job market present an ongoing challenge. Globalisation, accelerated technological advancements, geo-political tensions, and hybrid work have transformed the landscape, intensifying competition and requiring adaptability. Navigating these market dynamics effectively is crucial for resilience. Stay informed about market trends, emerging opportunities, and hidden competition from internal candidates. Conduct thorough research to understand industry demands and job market conditions. Optimise your online presence, particularly on professional platforms like LinkedIn, to position yourself as a candidate aligned with market needs. By actively adapting to market dynamics and proactively addressing challenges, you can maintain resilience in your job search.

Resiliency should be your ally as a senior leader striving to secure your next leadership role. By acknowledging and addressing these challenges head-on, while implementing the strategies outlined above, you can navigate your career transition with confidence and determination. Maintain an adaptive mindset, seek support, align your priorities, leverage your experience, and stay attuned to market dynamics. With the right tools and insights at your disposal, you can not only withstand the challenges but also emerge stronger and more resilient on your path to leadership excellence.

In the pursuit of your next leadership role, resilience is not just a virtue; it’s a necessity. As Rialto Managing Director Richard Chiumento adeptly puts it, “Resilience is not what happens to you. It’s how you react to, respond to, and recover from what happens to you, and knowing that you are the only one that has the power and the responsibility to pick yourself up.” Challenges and setbacks are inherent in any career transition, but your ability to navigate them with determination and poise can set you apart.

Here are five top strategies to help you maintain resilience on your journey:

1. Adjust Your Mindset: Resilience begins with your mindset. To thrive in the face of adversity, cultivate optimism and flexibility. Instead of dwelling on rejections or missed opportunities, view them as steps closer to your ideal role. Avoid fixating on specific employers or titles; keep your options open. Consider leveraging transferrable skills to explore remote work opportunities, expanding your horizons geographically. Celebrate small wins along the way to stay motivated. Every step forward, no matter how small, contributes to your progress.
2. Seek Feedback and Support: Don’t go through your career transition alone. Seek feedback and support from trusted sources. It’s easy to get lost in the minutiae of the process, so external perspectives can provide invaluable insights. If you face rejection, consider requesting feedback to gain clarity on areas for improvement. Engage with colleagues, friends, or loved ones to identify your strengths and weaknesses, aligning them with your personal brand. Consider enlisting a mentor or professional career coach for objective guidance and critical market insights. A supportive network and access to key resources to accelerate your career transition can boost your morale and resilience.
3. Adapt to the Market: In a dynamic job market, adaptability is key to confidence. Stay informed about market trends, challenges, and demands. Conduct thorough research to understand industry-specific needs and emerging opportunities. Evaluate whether your skills align with market demands and be prepared to upskill if necessary. Ensure your online presence, particularly your LinkedIn profile, is professional and optimised for current algorithms. Scale your digital networking efforts to uncover hidden market opportunities and secure valuable meetings. While you can’t control the market, taking charge of your positioning within it can enhance your confidence and resilience.
4. Implement Self Care: Career transitions demand substantial time and effort, increasing the risk of burnout and a common hope and disillusionment cycle. Maintain your well-being by establishing a routine that organises your search efforts into manageable segments. Prioritise physical, mental, and emotional self-care throughout the process. Recognise that resilience is closely linked to your overall health and vitality. By nurturing yourself, you’ll have the energy and determination to persevere.
5. Don’t Give Up: Resilience often hinges on persistence. Career transitions can be lengthy and challenging, especially in competitive markets. If the ideal role hasn’t materialised yet, don’t lose hope. Persevere, focus on your positive learning and trust that your opportunity is on the horizon. Overcoming obstacles may seem daunting, but the willingness to explore alternative paths is an essential step in the right direction. Even when faced with seemingly insurmountable hurdles, maintain your resolve. The right opportunity may be closer than you think, especially if you can break down the steps to get there.

In conclusion, resilience is a fundamental quality for senior leaders navigating career transitions. By adopting an adaptive mindset, seeking support, staying informed about market dynamics, prioritising self-care, and persisting through challenges, you can not only weather the storms but also emerge stronger and more confident in your pursuit of the next leadership role.

If you require additional support during your search, consider exploring career transition, personal branding, and executive career coaching services to enhance your resilience and propel your career forward.

Even in the most ideal of economic conditions, Q3 is a slow time of year for both businesses and the jobs market. After powering through the first half of the year, many use this time to take a break and recharge before returning to finish out the year strong. With July and August typically characterised by slower activity and Out-of-Office replies, September usually sees a surge in activity as teams return refreshed and businesses begin to structure and enact their plans for rounding out the year. In 2023, the expected surge appears still to come.

Why might that be, and what does it mean for leaders and their organisations, as well as executives planning a career move?

Reflecting on the current market status can help to better prepare for what lies ahead. This is critically valuable as we approach what, for many, is a high-stakes Q4. Our experts offer insights into the current state of the executive job market and the macro business landscape, highlighting trends that will shape and providing advice for navigating these conditions successfully.

Jobs Market Snapshot

Although a complete view of Q3 data awaits the release of the Office of National Statistics’ (ONS) October report, their September report and ongoing market activity provide substantial insights into our current position and potential future.

Their latest report found that UK unemployment rose by 159,000 in the last quarter, moving the jobless total up to 1.464 million and setting the unemployment rate at 4.3%. This is the highest this figure has been since Q3 2021 and exceeds the predicted 4.1% the Bank of England had previously anticipated for the whole of Q3 2023. Employment also dropped by a greater-than-expected total of 207,000 in this reporting period, with 182,000 of those drops happening in London alone. This is the biggest such fall since the three months to October 2020.

The current market is characterised by more people leaving employment and less opportunities available, as this report reflects. In June to August 2023, the estimated number of vacancies fell by 64,000 to 989,000. This quarter is the 14th consecutive period in which a fall has happened.

Total pay (including bonuses) saw growth for the period rise to 8.5% in annual terms, the highest level seen in more than 20 years and excluding the pandemic when furlough distorted the data. Regular pay (which excludes bonuses) grew by 7.8%, its highest annual growth rate since comparable records began in 2001. The latest Consumer Price Index (CPI) data shows that inflation slowed for a third consecutive month to 6.7% in August, its lowest level in 18 months, indicating that wages are rising faster than prices again after a long squeeze from last year’s inflation surge and the record high of 11.1% we saw in October 2022. This news surely came as a relief to many, but could also increase the pressure placed on businesses if interest rates rise again causing further challenges in the market towards the end of the year.

Key Career Transition Trends

As we move into Autumn, it appears as though we will be sailing into Q4 2023 against strong headwinds. However, there are glimpses of optimism and opportunity to be found. These are the key labour trends our experts predict will shape activity for the remainder of the year:

• Further Economically Driven Decision-Making: Typically, strong wage growth indicates a strong economy, but the UK’s rapidly rising unemployment rates and falls in opportunity suggest the opposite. Thankfully, the Bank of England chose to keep interest rates at 5.25%, defying predictions of another rate hike and ending a run of 14 straight increases. This raises the prospect that this cycle of rate increases may have peaked, but there is always the chance that they could spike again. However, for many businesses, the impact is already being felt.

A number of businesses across industries are engaged in merger discussions or restructuring to survive, while others have unfortunately fallen into administration. It is very likely we will see more businesses fold under the pressure or consider downsizing, which will further disrupt the market. Individuals in transition or considering a career transition should prepare themselves for a generally cooler market than usual through the end of the year despite the positive news from the BoE.

• Pockets of Opportunity: Some industries are feeling more optimistic than others. Those erring on the side of caution are those more likely to have borrowed to survive or stay competitive following the pandemic, as they will be most affected by interest rate hikes, high costs of living, and disrupted markets. British Chambers of Commerce research shows record numbers of organisations reporting recruitment difficulties, particularly in the hospitality, retail, and manufacturing sectors. Make UK’s own data supports these outlooks for manufacturing, with the trade body predicting output will fall by 0.5% this year and cause recruitment plans to weaken significantly due to a slowdown in orders from domestic and overseas customers. According to the latest CIPD Labour Market Outlook report, the net employment balance in public administration and the rest of the public sector has fallen from +15 in the previous quarter to just +2 in summer 2023, with 17% of employers in this sector planning to decrease their staff levels before the end of the year. Their research also found that Education also has a weak employment outlook with 13% of employers in this sector planning to decrease staff levels in Q4.

But there are still many opportunities to be found according to research from Manpower Group. Their Q4 Employment Outlook Survey data found that 44% of global employers anticipate an increase in hiring in the quarter, while 14% anticipate a decrease and a further 38% anticipate no change. This is very similar to the figures when zooming in on the UK alone, with increases of 42%, 16%, and 39% respectively. Across both the global and UK data, the most opportunity is likely to be found in Financial Services & Real Estate, IT, and Healthcare. In the UK, the outlooks for Transportation & Automotive fare better than they do globally, but global outlooks for Communications Services are much better worldwide than they are in the UK. So while the market is certainly slower and smaller than it was this time last year, there will potentially be some upturn as we round out the year.

• Strong Focus on Skills: While there may be less opportunities in the market overall, many employers are struggling to fill the gaps they have. The Manpower Group report found that globally 77% of employers across industries say they are struggling to find talent with the skills they need, while in the UK that figure rises to 80% of employers. Staying zoomed in on the UK, in every industry apart from Consumer Goods & Services and Communications Services, the number of employers who reported having this issue was 80% or higher. Energy and Utilities (88%) and Healthcare (83%) employers are struggling the most.

In a market where there is certainly no shortage of talent, it is interesting to see such a high volume of employers across industries reporting struggles. For senior executives looking to make a career transition in Q4, there are a few key things to note here. We are seeing a shift away from a focus on experience and tenure to a focus on skills and capabilities. Despite it being a crowded marketplace, possessing those desired skills may increase one’s chance of success. The key is figuring out how to leverage and communicate those capabilities to differentiate oneself from the crowd. More on that later.

• ‘Quiet Quitting’ and RTO Plans: For the past several years, we have been tracking ‘The Great Resignation’ trend in which the job market power was in the hands of the talent. As conditions have continued to be volatile, businesses have reigned in and fewer opportunities have become available, with power changing hands back to employers slowing the resignation trend. Those desiring a career transition are not unaware of the slower job market conditions, and it is now their turn to err on the side of caution. As a result, we are seeing less people leaving their jobs outright and instead staying put, pulling back and not performing at optimal levels due to their disengagement. This trend, dubbed ‘quiet quitting,’ has created less job-to-job movement in the market which in turn has contributed to the low number of opportunities available. Meanwhile, other employers are doubling down on their return-to-office (RTO) plans, causing major shakeups for hybrid and remote workers. During the pandemic, organisations were able to add valuable talent to their teams by expanding their workforce from global candidate pools thanks to remote working arrangements. Others who may have otherwise left the organisation due to familial obligations or geographic restraints have been able to stay in their roles under more flexible working models as well. Some businesses’ strict RTO strategies put them at risk of losing valuable talent or putting off potentially valuable candidates.

This is a growing problem that many employers will need to address in Q4, so expect this to take a few forms. Some employers will shift focus from recruitment to retention, focusing on getting their existing talent back on track rather than bringing in new executives. This may include rethinking compensation and altering RTO plans to improve satisfaction. Others may choose to cull underperformers or those refusing to comply with RTO rules, injecting more competition into a crowded job search market. Others may recruit new leadership to help steer the business back on track. Those who make cuts will have to recruit to replace what has been lost, but this may raise red flags for executives in the market. If a business has lost a lot of talent to quiet quitting or RTO plans, you may need to consider if the organisation’s operating model and culture aligns to your own personal search criteria or career goals.

• Accelerating AI Adoption: We would be remiss to make a trends list without the inclusion of artificial intelligence and emerging technologies, which continue to be the single biggest disruptor to the business landscape. We are seeing many businesses announce restructuring and redundancy plans with AI cited as the catalyst, while others flounder in knowing how to upskill their staff and harness the potential of this technology. As we mentioned in our April Executive Outlooks report, there is no turning back now when it comes to AI. If anything, we are deeper into it now than we were back when that report was published. Generative AI and other forms of artificial intelligence continue to evolve and expand, with new updates seemingly every day. Organisations who find new ways to harness AI’s power to benefit their business, and the expectations placed on their people will change as a result. At the senior level, it is unlikely that your role will be replaced by or have extensive direct interaction with AI, but it is important that you understand its overall business value and who as well as how your teams will need to use it in their daily activities. Organisations will need leaders who are primed to lead their adoption efforts and guide the rest of the team through the changes. Prepare and educate yourself for this shift to increase your value in the future of work.

Executive Career Transition Advice

The trends we are seeing are bound to create ongoing business challenges through the end of 2023 and the start of 2024. Rialto Executive Coaches advise the following for those navigating an executive transition in these conditions successfully:

• Strengthen Your Skills: As indicated by the trends, employers are focusing much more heavily on skills than experience. That’s not to say that your experience cannot be valuable, but when undergoing a transition in these conditions our experts suggest emphasising how your experience translates into valuable capabilities. Carry out research into what the in-demand skills are for your industry. Tap into your network to gain insight. If you already possess the necessary skills, assess whether you are communicating them properly or strategise how you can more effectively structure your value proposition to strengthen your search efforts. If you lack the right skills or they could use improvement, focus on upskilling in Q4 so that you can enter the market with the best possible chances in the new year. As shared in our mid-year market update, the World Economic Forum listed a number of skills on the rise in their 2023 Future of Jobs Report, for individuals to benchmark against including analytical thinking, creative thinking, resilience, flexibility and agility. Focus on how you can demonstrate and communicate these skills to appear more valuable to potential employers.

For businesses, the advice from our previous Executive Outlooks updates still apply. If you’re considering business restructuring or cost-cutting measures, it’s crucial to avoid jeopardising your ability to steer the company through future chapters due to poor planning and skill shortages. If recruiting isn’t feasible, prioritise upskilling existing teams to ensure they possess the required competencies. Additionally, concentrate on employee satisfaction and retention to maintain optimal performance from your talent pool.

• Structure Your Strategy: A cooled-down jobs market may be stressful and a bit daunting if you are in transition, but the slower conditions offer an opportunity to shift your focus to your strategy. In a difficult marketplace such as this, you need to have clear objectives, priorities, and a plan of action. What employers do you want to target in your search, and who are the key decision-makers you need to influence? What exactly are you looking for in your next role, and what do you bring to the table? The slowdown in activity makes it possible to devote time to getting this right so that when things eventually do pick up, you will be ready. Working with an expert advisor such as our Rialto Executive Career Coaches through a tailored, 1-1 career coaching programme can help to increase your effectiveness and ensure your strategy and positioning meets market needs.
• Strengthen Your Personal Digital Brand: Building your online persona needs to be a major element of your strategy and is a major element of all Rialto Executive transition and Executive coaching programmes. Today’s job search experience skews heavily digital, so it is crucial that you are leveraging all the available tools to make the right impression when found online. At the senior level, your personal brand is crucial for securing a role via the hidden market both online and off. This remains the best way for senior executives to find and secure opportunities in such a tight market. What might an executive recruiter, a valuable contact, or a potential employer see when visiting your profile? Would they walk away with a strong understanding of who you are as a professional, what you are capable of, or how you might be able to add value to their organisation? If not, focus on optimising your online presence in Q4. Make sure your skills and experience are clear, and that your profiles contain the right keywords for your target industry or job function. Structure your LinkedIn presence for the role you would like to have rather than the role you currently possess or most recently held. Support the brand you’ve built on your profile with your posting activity. Aim to position yourself as a thought leader in your industry or regarding specific topics you want to be known for. Our coaches can advise on how to do this with the strongest positioning.

In conclusion, the challenges of the current business landscape call for adaptability and resilience from both job seekers and businesses alike. Despite the ongoing market hurdles, it’s essential to recognise the potential for growth and innovation within these challenging conditions. Staying well-informed about market trends, fostering skill development, and nurturing employee satisfaction and retention are key strategies for businesses to position themselves for success in the upcoming Q4 and beyond. For those finding themselves in need of a career transition, this is an opportune time to refine skills and prepare for the opportunities that lie ahead, knowing that the right mindset and approach can lead to success in any economic climate.

To learn more about how Rialto executive career transition and executive outplacement services can support you to differentiate your brand in line with future market requirements, get in touch with our team on +44 (0) 20 3746 2960. If you haven’t signed up to receive our market insights or info about our upcoming events directly to your inbox, click here to subscribe.

While authority and formal titles may dictate a certain level of control or gravitas, true leadership is not about your ability to command others but rather your ability to inspire voluntary action. Influence is a delicate fusion of empathy, communication prowess, and vision. It requires an understanding of the unique motivations and aspirations of individuals and involves leveraging that understanding to guide teams toward shared objectives. A leader’s ability to influence reflects their ability to connect with people on a personal level, to build trust, and foster a sense of belonging and purpose.

Whether you’re championing a strategic initiative, leading restructuring efforts, advocating for new technology, strengthening  customer commitment or motivating your teams towards agility and higher performance, your ability to generate buy-in, inspire confidence, and shape outcomes hinges upon whether you are able to effectively gain support from your key stakeholders, many of whom will not necessarily be I the same room as you too regularly.

Our expert Rialto Executive Career Coaches have shared the following five essential strategies for senior executives to consider when seeking to enhance their leadership influence.

1. Master the Art of Persuasion: To influence effectively, it’s vital to master the art of persuasion. This involves appealing to both reason and emotion. Look to substantiate your position with data and facts, but also attune yourself to your audience’s feelings. Demonstrate how your vision and objectives align with their values and aspirations. Look to also clarify how their support and/or contribution support the broader outlook. A common error which many leaders often make is not focussing on multiple stakeholder benefits, even though they know that not everyone shares the same level of commitment to a particular cause or direction. To be truly influential, you need to be realistic about the various drivers for your different audiences and persuade them from that vantage point.  Segment your audience to customise your approach and consider their different interests and priorities.  Emphasise positive impact and what success looks like but equally anticipate and openly address challenges and risks, inviting feedback and creating space for dialogue.  Remember, mastering the art of persuasion is an ongoing process requiring self-awareness, practice, and a genuine commitment to understanding and connecting with others.
2. Build a Compelling Personal Brand: Your personal brand is a powerful tool for influence, both online and offline. A strong personal brand can make your message more compelling and trustworthy, especially where you have shared your expertise and values and proven yourself as a trusted contributor in your field or on key topics. Consistently align your actions and communication with these attributes is essential, both within and outside your organisation. Those that have established credibility among peers, team members, and stakeholders are much more likely to have their voice heard and be followed. Many senior leaders use LinkedIn as a preferred thought leadership platform to raise personal digital brand awareness, given its professional reputation compared to other social networking platforms. Build a strong profile on the site that accurately outlines your background, experience, and professional identity. Ensure that the information you include creates the desired perception you would like others to glean. Then, use the platform to build your influence through your posting and activity. Share relevant research, comment on trends affecting your industry or business, and actively engage in conversations about your topics of expertise. Leverage your brand to build your network and get in front of key members of your audience. Name recognition goes a long way in creating credibility and trustworthiness. Having a well-structured and active profile can help to position you well as a leader in your industry or job function, which in turn will support your ability to influence others.
3. Leverage Technology Wisely: Using technology to build your influence is a must in today’s digital age but ensure that you are doing so wisely. Utilise it to your advantage but be mindful of its limitations. Video conferences, webinars, and social media can extend your reach, but they still don’t create the same impact as face-to-face interactions Be mindful of how and why you use technology in your communications efforts and ask yourself if this is the right platform or appropriate messaging for your audience and brand. With the rise of generative AI, employing a platform like ChatGPT to draft thought leadership and persuasive messages is being seen as a valuable time saver for busy executives. However, generating content this way without your own perspective does little to portray your unique voice, match your tone and can occasionally generate inaccurate or misrepresentative information. To be truly influential, you need to own your narrative and your messaging instead of handing over to AI. Generative AI is an incredible technology, but again has its limitations. Use it as an assistant to your efforts rather than letting technology take full control.
4. Develop a Community and Open Communication: Both online and offline, you should be listening as often as you speak and empowering others to share their thoughts as well. Do not just share or ‘publish your own thoughts and expect that to be enough to position you as ‘influential.’ The most successful influencers are those who build communities of trust first. Spark valuable and thought-provoking conversations with others. Invite your audience to share their opinions and respond to them. Comment on what others have to say be that in your organisation, in your industry or on a wider platform. Influential leaders do not exist in isolation.

As a leader, take the initiative  to create a culture that encourages and supports open communication and collaboration. Encourage feedback, welcome diverse perspectives, and ensure that information flows freely. A transparent, open culture fosters trust, honesty and creates alignment. It also makes it easier to generate buy-in for initiatives or strengthen decision-making through collaborative input.

5. Continuously Learn and Improve: Building your influence will not happen overnight, and effective communication is not a static skill. You should always strive to learn and improve your messaging and your method of delivery. Seek feedback, stay updated on trends, and adapt accordingly. A commitment to ongoing self awareness and growth will help you to become influential long term, which will prove valuable in times of both prosperity and turmoil.

When leaders lead by example, showcasing values and behaviours that align with the bigger picture and a shared purpose, they set the tone for those around them. This sparks a ripple effect that in an organisation creates greater workforce cohesion, fosters innovation, and improves agility and resilience in the face of challenges. In an era characterised by rapid change and complexity, influence becomes even more valuable. Leaders who can adapt and communicate effectively in diverse and cross-functional teams are better equipped to guide their organisations through tumult, bridge gaps, resolve conflicts, and navigate uncertainty with grace.

Having the right talent in the right roles is critical for an organisation’s ability to grow and succeed. It therefore comes as no surprise that despite current economic circumstances, over 70% of leaders in a recent executive survey cited ‘Availability of key talent/skills’ as one of their top concerns. As any senior leader who has had to make hiring decisions themselves will know, there are often challenges when finding and securing talent in key positions, and the process can be stressful and drawn out for the job seekers themselves.

Many executives will put most of their effort into traditional or outdated thinking when embarking on a career transition, which includes searching executive job boards, applying through company websites or contacting recruitment firms. Many roles, however, are filled and even created through a ‘hidden job market’, where opportunities are never publicly advertised. Pre-pandemic, it was highly publicised that 70% of all jobs are not published openly on jobs sites and as many as 80% of jobs are filled through personal and professional connections. We also know that there are plenty of job openings that pose challenges, resulting in these opportunities never being publicised for a variety of reasons such as:

• Companies often have sensitive roles or succession plans that demand discretion. Therefore, they prefer to tap into their internal network or rely on trusted referrals.
• Advertising jobs publicly can be expensive, and organisations may attempt to first map internal talent pools and external referrals.
• Hiring through referrals and networking often results in higher-quality candidates, as these professionals come recommended by trusted sources.

The Power of the Hidden Market

While traditional hiring methods have their place, understanding and harnessing the hidden job market by growing and developing trusted networks can prove to be a game-changer for those looking for a career transition. Individuals who do not invest time and effort into tapping into this area risk missing valuable opportunities and limiting their chances of shaping and securing their next opportunity. Here are some of the reasons to embrace searching for a senior role by navigating the market in this way:

• Network-endorsed career paths: Leadership positions come with high expectations and the inherent responsibility of delivering the organisation’s goals, which are often confidential in nature. Therefore, it is absolutely essential to have trustworthy, capable, and effective executives in these key positions. In pursuit of the right fit for these high-stake roles, we see trusted networks taking over the selection process. The emphasis shifts from the volume of applications to the quality of candidates. Businesses, cognisant of the pitfalls of sifting through an avalanche of ill-suited applications, are increasingly veering toward networks that come with built-in credentials. By capitalising on these webbed connections—composed of trusted industry peers, mentors, and confidants—businesses gain access to a pool of candidates whose capabilities are not just self-proclaimed but validated through real-world endorsements and recommendations.
• Higher-quality roles: Making a career transition through the hidden market increases the likelihood of securing a role that aligns to your strengths, capabilities, and personal career goals and can also offer more substantial responsibility and rewards. Equally, if you are being referred for jobs by those who know you and your work well, they are more likely to put you forward for positions that you would excel in. A strong fit increases the probability of success in that role and helps to improve one’s own career satisfaction.
• Minimised competition: Today’s jobs market is crowded. Gaining traction, increasing visibility, and securing valuable meetings is becoming more challenging. With businesses erring on the side of fiscal caution and scaling back their recruitment efforts, there have been fewer available desirable roles in the market and a high volume of qualified candidates vying for them. Because of its exclusivity, the hidden market is less competitive. Candidates are handpicked based on more holistic criteria rather than pulled from a pile of similarly-qualified CVs. Instead of seeking out roles and applying the traditional way, utilising the hidden market enables you to state your career and role objectives and attract opportunities to you instead of having it the other way around.

Remember, the information shared on job boards and career pages are only a fraction of the full picture. To maximise your chances of securing the best fit senior-level role, you are better served by leveraging your existing networks whilst also building extended networks designed to your future direction. Forging strong connections, making a name for yourself, and being more strategic will produce considerably superior discussions and opportunities than the simple act of application.

The value of searching for a senior-level role through the hidden job market could not possibly be overstated, but how do you get started?  Many senior executives will have built up their network through the years but may not be sure how to utilise their connections for this purpose. Others may not know how to structure their approach.

Having the right strategy can make or break a career transition aimed at securing a new, more enriching role. We’ve put together five practical tips to increase your chances of success in the hidden market:

1. Build a strong digital personal brand: With so much of modern networking and today’s job search taking place through virtual touchpoints, you will want to ensure your social media profile stands out. Your contacts will reference your LinkedIn to get a clearer grasp on what it is that you do and have to offer, and this will likely be the first place they refer potential employers to visit to learn more about you. Ensure the information presented adequately represents how you want to be perceived and communicates what you can bring to the table. Anyone visiting your profile should be able to draw a conclusion about your ability to navigate potential market challenges and add value to an organisation. If you are trying to draw in opportunities from beyond your immediate network, you will need to ensure your profile contains appropriate keywords for your career transition objectives. Take the time to craft a strong headline, write a compelling About section, and update your experience section. For the latter, beyond just ensuring all your work experience is up to date, highlight your accomplishments and measurable impact and align these items to the opportunities you are seeking. Understand that in today’s market, your profile is often seen before your CV and it is therefore important you are making the strongest possible impression.
2. Get others to be advocates for you: Of course, one of the key advantages of tapping into your network for support with your career transition is having designated advocates vouching for you in the marketplace. Be selective about who you turn to for this, and what the narrative they present on your behalf will be. Make sure the contacts you’re tapping for this understand what you can bring to others so they can accurately tell your story. By enlisting the support of trusted peers, you can reap the benefits of opportunities being created for you while you progress your other networking activities or continue to juggle ongoing work-related commitments. Your trustworthiness can also be further enhanced as recommendations from others can be better received than self-promotion. Your reputation is one of the most valuable assets you have and can bring stability during turbulent times. Nurture it with care.
3. Build a strong and diverse network before you need to use it: Just like building friendships, establishing a strong network doesn’t happen overnight. Dedicate time to growing your network before you need it, as your network is an investment that pays compound interest over time. The longer people have a chance to know you, learn what you are about, and see what you are capable of, the more credible you become. Become an active presence in your industry. Keep up to date with industry trends and news through the national press, professional journals, and professional/trade association websites. Make time to attend relevant events, conferences, and seminars to establish meaningful connections. Engage with professionals and leaders from other industries and build relationships that can later yield valuable prospects beyond your immediate scope. We naturally gravitate toward people who are like us, yet this tendency can create tunnel vision and undermine the value of our network. Top-performing executives have diverse but very select networks of relationships from different spheres and across the corporate hierarchy. Having diversity in your network helps keep both your mind and your options open.
4. Master the art of effective communication: Networking is not a transactional activity, nor should it be treated as such. If you want to gain from your network, you should be giving as well. You are looking for your network to provide valuable insights and referrals, but you should be willing to do the same. If you are treating your network as just a numbers game, expect your efforts not to be as fruitful. When it comes to building an effective and valuable network, it’s key to enjoy interacting with people and to have fun along the way. Offer help before you ask for it. Engage in meaningful conversations, share knowledge, and help others where possible. That way, you are forging more authentic connections. Personal recommendations and referrals from valued contacts can open doors to those hidden opportunities you are after.
5. Target your outreach: This process is much more strategic than simply casting a net and hoping your contacts can help you reel in the right role. The key to succeeding in the hidden market is to have a compelling value proposition aimed at a clear set of targets and objectives that you are looking to meet. Identify a few organisations you know you can add value to and take a proactive approach to connect with key decision-makers within those companies. Research the company’s strategic goals, challenges, and leadership team. Reach out to senior executives directly through personalised messages, LinkedIn Groups, or at networking events. Demonstrating a genuine interest in their organisation and highlighting your unique value proposition can lead to discussions about unadvertised executive roles or opportunities that don’t yet exist. It’s a win for both parties, as you can secure the exact type of opportunity you desire while your potential employer may have just found the right talent without having to go through a long search campaign.

Accessing the hidden job market at the executive level requires a combination of strategic networking, professional branding, and targeted campaigning. Building and nurturing a strong network, utilising social media, seeking referrals, and engaging with relevant associations and companies are key actions that can help you uncover exclusive executive-level opportunities that you would have never known about otherwise. Embrace a proactive approach, stay persistent, and demonstrate your value as an executive leader.

People who know and trust you are vital to building your career, and power plays are a corporate reality, so take steps to actively build your network. Ensure the door swings both ways though, and that you are not taking advantage. Remember that people will remember how you made them feel, and how you showed up for them when they needed your support. Leave people with the right impression of you to ensure that when the time comes, they tell the right story on your behalf.

No matter how ready you think you are for a leadership role, reality does not always match expectations. This is true across the senior level, including for the role of CEO and the rest of the C-suite. Nearly every new Executive who participated in McKinsey’s latest Rising CEO Forum reported feeling well-equipped for the job at first given their experience, but later realised that the job required skills and expertise they had never developed or their existing skills and expertise were not as strong as they initially thought. This may naturally lead to feelings of imposter syndrome, which is not uncommon at the senior level but can also hinder your new leader assimilation efforts. Nothing stalls progress, good leadership, strong decision making, and business growth like fear and doubt. No leader is immune to these emotions, but what you choose to do when these feelings arise is what separates strong leaders from the rest of the pack.

Read on for our experts’ advice on overcoming the challenges you will inevitably face when assimilating to a new senior-level position.

• Build Trust and Resilience: There can be no trust without honesty, and new leaders need to be upfront and forthcoming from the start. In an era where trust is paramount, leaders must be authentic and transparent in a constructive manner. They should communicate openly, even when sharing difficult messages or requiring support. It is important to remember that you are just one person, you do not have all the answers, and you won’t always know exactly what to do in every situation.  By involving employees in problem-solving and providing clear information about required skills and changes, leaders can inspire trust and create a culture of shared accountability. Effective communication at every level and juncture helps to co-create expectations, celebrate successes, and learn from failures, fostering a forward-facing and positive environment.
• Delegate Authority: New leaders may feel pressure to be seen to be making decision or taking actions immediately to prove themselves in their new role. Spreading yourself thin or taking everything on yourself benefits no one, least of all you. Referring to the McKinsey statistic mentioned earlier, nearly half of the executives who fail within 18 months of taking on a role “quietly struggle” in those positions. Suffering in silence is not the way forward. If you do not know something, do not claim to. Ask questions, learn all you can, and do not be afraid to lean on others. Assign clear priorities and responsibilities and empower your team early on to ensure goals are met and promises are kept. Instead of attempting to take on everything yourself to prove your capabilities, understand that the most effective leaders are those who delegate. That said, there is a difference between simply delegating tasks and delegating authority. Delegating tasks to team members will get you by in the short term, but it is much better to delegate the authority, building capability, autonomy and empowering greater team collaboration. Prioritise the activities that are going to drive the most impact for the business, whether that requires earning some quick wins or taking major strides along a long-term growth path and focus your attention on those, trusting team members to handle the rest. Focus on fostering a culture of accountability, autonomy, and ownership. Recognise the potential in others and nurture it.
• Strengthen Your Personal Effectiveness: At the same time, ensure you are nurturing and strengthening your own personal effectiveness to navigate the challenges of a new role successfully. Building an effective influence base helps leaders get their voices heard and establish trust with stakeholders. Defining personal success and priorities through clear goal setting aligns personal contributions with business objectives. Additionally, managing personal effectiveness involves developing greater soft skills like emotional intelligence, agility, empathy and adaptability. Leaders should also be aware of imposter syndrome, seeking support and cultivating resilience in the face of self-doubt.

Every leader will have a different approach and style, with success in a new role looking different for everyone. But at the end of the day, people are more likely to follow leaders who feel human, recognise their strengths and limits, empower others to be their best, and truly walk the talk. Beyond delivering on the business objectives you set, who you are as a leader and as a person can be more important for impacting your success in the role and your perceived assimilation as a valued member of the leadership team.

If you would value new key insights into developing your capabilities as a leader and maximising your effectiveness in a new senior-level role, get in touch with our team to discuss our Leadership Development services.

One of the foremost challenges for new executive leaders is quickly grasping the intricacies of the new organisation’s context. Each organisation has its own culture, dynamics, and operational nuances. Understanding the organisation’s history, values, and key stakeholders becomes crucial for effective decision-making, building relationships and leadership impact. Executives must dedicate time and effort to immerse themselves in the new context to gain insights and identify roadblocks to performance.

Here are some of the factors to consider in order to do this effectively:

• Bridging the Expectation Gap: As new leaders step into their roles, they often face high expectations from various stakeholders including the board, employees, customers, and shareholders. Meeting these expectations requires clarity in role definition, aligning with the organisation’s strategic goals, and effectively communicating one’s vision and plans. Often failure at the senior level is caused by having an unclear mandate for what is expected of the senior executive in that role. Every one of these stakeholder groups will have their own expectations for you in your new role, and their own hopes for what you might accomplish in their interest. To assimilate successfully, gain clarity on your responsibilities, remit, objectives, and KPIs early on to avoid any confusion and setbacks.  Take the time to get to know members of these groups, whether that means interacting with them one-to-one, studying your organisation’s customer data, or studying up on your industry. Communication and engagement are essential to proactively partnering with stakeholders. Determine who owns which actions, who to turn to for information about specific functions or issues, and which hats you are meant to wear within the business, at what times. This way, you don’t overstep, cause upset, or spread yourself unnecessarily thin. Listen to their concerns, aim to truly understand them, and manage expectations through transparent and authentic communication.

• Building and Aligning the Senior Leadership Team: Senior leaders do not exist on an island by themselves, and to successfully serve the business the leadership team needs to work together to achieve the desired culture, performance and goals that matches the vision and mission of the organisation. They are aware that success isn’t guaranteed by a sound plan only. Many businesses have strategies that sound excellent on paper but fall short of producing the desired results. New executives must assess the capabilities, diversity, and alignment of the senior team but also the wider organisation. They should agree on the ‘Why’ of the organisation, encourage open dialogue, productive debate, foster collaboration, and establish a shared vision with clear accountabilities aimed at developing and growing the organisation. Strengthening team alignment also allows for confident decision-making, resilience in the face of challenges, and the ability to navigate and bounce back from disagreements, difficult situations and/or crises effectively.
• Driving Change and Adaptive Operations: This agility is crucial in today’s rapidly evolving business landscape where change is inevitable. C-suite leaders are responsible for setting strategies and actions that enable adaptive operations. This involves building a compelling case for change, creating short and medium-term wins, and being prepared to pivot when necessary. With calculated risk, learning from failures, and continuously moving forward, leaders can foster an environment that encourages innovation and supports the organisation’s evolution. Do not abide by the organisation’s status quo just to fit in and feel welcomed in your new role. Be a champion of the type of change that will drive the business forward whether it is comfortable or not. The business will be better for it.

In a business climate full of greater complexity, numerous competing demands, different leadership challenges spring up daily and often from all sides. The task of any new leader is to ascertain how differing priorities and interests align with the organisation’s goals, and how they can best deliver the right impact in the right priority order for all stakeholders. Focus on being honest, authentic, and developing meaningful relationships. Remain curious and develop collaborative, open relationships with your team whilst listening, understanding, and predicting your ultimate customer needs and behaviours.

Rialto clients who have transitioned into leadership both internally or externally often find that working with an Executive Career Coach who has been in their shoes but is impartial to their organisation helps to improve emotional intelligence, enhance strategic thinking, and creates a mindset shift that helps them to move forward more quickly and with less risk. At a time of personal change, having someone to speak to externally that can quickly hone your awareness of your effectiveness and assist in transferring learning into action can make the difference in accelerating your success.

No matter what our level of accomplishment, professional stature, or past successes might be, we are still not protected from rejection and the emotional turmoil that accompanies it when looking to advance our careers. Even as senior executives, we are not exempt from experiencing the profound impact of a resounding ‘no’. Executive career transitions are deeply personal endeavors, and handling rejection can be emotionally challenging when setbacks occur. However, it is crucial to remember that a rejection is merely a temporary hurdle, not the definitive end of the road. In fact, it can serve as a catalyst for redirecting our career decisions and learning trajectory towards an even better direction.

To effectively recover from rejection, it is essential to approach the situation with a dose of realism and an understanding of the potential circumstances or factors that may have contributed to the outcome. Below, we explore some of the common dynamics that can underlie a rejection:

• You are Dealing With a Tough Marketplace: While it may feel tempting to blame reasons beyond your control, the fact of the matter is that the senior market itself has shrunk in the wake of slow growth, inflation and ongoing economic disruption. This has led to a fall in the number of available senior-level opportunities overall. Rialto market mapping research shows that between April and June of 2023, the total number of available top-level vacancies in the UK advertised on LinkedIn fell from 44,941 to 9,321. This means that between the start and end of Q2 2023 alone, the number of available senior-level jobs fell by almost 80%. Zooming in on specific roles, the number of LinkedIn vacancies for a ‘Chief Executive Officer’ in the UK plummeted from 9,353 to 388 between April and June, while listings for ‘Chief Finance Officer’ dropped from 4,547 to 414, ‘Chief Technology Officer’ fell from 4,182 to 179, and ‘Human Resources Director’ fell from 1,483 to 138 within the same period. This fall in opportunity has not been met with a fall in desire to move to a new role. The number of UK job seekers in the market rose consecutively throughout Q2 2023, constituting the largest surge the market has seen three years. Simply put, senior-level job seekers are competing in a marketplace that has far less opportunity available to them in a candidate pool which has expanded.
• You Didn’t Differentiate Enough: Comparing senior-level candidates can be like comparing apples to apples. No matter how experienced or qualified you feel you are, the harsh reality is that at this level most of your peers are similarly experienced, educated, and qualified. Usually, executive hiring decisions are made based on the narrowest of margins. In your case, what might that be? Do you have the necessary skills to be an asset to the organisation and further its strategic goals, and if so, are you communicating in a compelling way? Do you have anything extra to offer that sets you apart, such as thought leadership? If you are relying solely on the contents of your CV to get you ahead, you may not be doing enough to succeed in this market.
• You’re Leaving the Wrong Impression: How you perform off paper matters as well, and you will have a very short time to make a lasting impression. Every meeting or interview is an opportunity to set yourself apart by demonstrating culture fit and what you bring to the business. Are you truly standing out in the limited time you have, making a lasting impression? Are you hitting the right notes in conversation and demonstrating value in that one meeting? Did you answer questions in a way that was short, sharp, and relevant? Was your body language strong? Or did the people interviewing you seem distracted, or even bored or disinterested? How you come across in real life matters just as much as the information on your CV, LinkedIn profile, or video impressions and not taking the time to get this part right can sink your chances.
• You’ve Aimed Too High: You can refuse to settle for less than what you believe you deserve or think you’re worth, but equally need to consider if you’ve set unrealistic expectations only to be disappointed when they are not reached. It may seem a bit harsh, but it is important to be pragmatic about what is and is not achievable for you. Is the role you’re reaching for at too high a level? It is okay to want to take a step up in your career, but is the step you’re taking more of a leap, and do you have what it takes to do it? If you are looking to move up the ladder, you need to be able to justify why you feel fit to do so. Do you have relevant skills, industry or business insights, or experience that make you a proper fit for the needs of the organisation and the expectations of the role? Similarly, it is okay to undergo a financially motivated career transition in aims of securing the compensation you feel you deserve, but are you asking for too much at a time where businesses are already having to tighten up their spending? High inflation and interest rates have hit businesses hard and have led to stricter hiring activity. What you are asking for may not seem too unreasonable and under better economic circumstances, it would most likely be doable. Do not sell yourself short of what is fair but understand that a business may not be able to go above and beyond financially to secure you and if what you’re asking for is more than what they have to offer, they will likely choose another candidate who is asking for less. This is not necessarily a failure on your part but is worth considering as the cause for your rejection.
• You’re Taking It Too Personally: No matter who you are, what you’ve accomplished, or level of resilience, rejection can sting. It is natural for a ‘no’ to potentially shake your confidence or trigger self-doubt. If you operate from a place of emotion, you run the risk of becoming reactive rather than proactive in your job search or getting so stuck in your own head that you aren’t performing at your optimal best. When rejections happen—and they will—it is important to grant yourself some reflection time. Use this period to note valuable lessons from the experience then instead of dwelling, shift your focus to the opportunities that lie ahead. By reframing rejection as a valuable learning experience and opportunity for growth and self-improvement, you can cultivate resilience and maintain momentum.

Maintaining objectivity can be challenging when undertaking an executive career transition.  The personal and emotionally charged nature of the process can cloud judgment. To gain a clearer perspective, it’s crucial to inject a strong dose of realism or seek an objective viewpoint from an external source. Often, our closest friends and loved ones are too close to us to view us completely objectively. This is where bringing in an expert executive career coach, such as our consultants at The Rialto Consultancy, can offer tremendous advantages. Our tailored career coaching programme are designed to facilitate critical self-assessment, identify areas for improvement, and ensure effective positioning from the outset, reducing the likelihood of rejection. Reach out to us today to explore how we can support your journey.