From No to Know: Handling Executive Career Transition Rejection
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.
