New Year, new role? Why it may pay to wait

If you’re feeling that it’s time to jump ship, you’re not alone. Research shows that job search activity jumps sharply in January — up to 30–40% higher than average in search engines and job boards. At the same time, businesses initiate new hiring plans with fresh budgets so there are more roles. You may be seeking a change for many reasons, but most likely it is due to the psychological reset effect: new year, new you (!).

Before you do anything, first take some time to consider your motivation for this reset. Is it definitely dissatisfaction with your current role, or dissatisfaction with your life? What life stage are you at, and how might this be a factor? The developmental psychologist Erik Erikson outlined how we face increasingly complex challenges at different stages, from infancy to old age. Each of these, he suggested, if successfully completed, results in a healthy personality and the ability to resolve subsequent crises. What challenge might you be seeking to overcome?

Whatever the catalyst, rather than make a hasty, ill-conceived, and potentially costly move, you would do better to use this momentum to gain traction and move strategically, not in haste. This is too important to leave to chance: much better to plan and proactively manage your career.

The hidden costs of a hasty move

There are many potential costs of making a hasty move, tempting though it may be. “Movers’ remorse” is real. Over a third of recently appointed executives (37%) reported that they planned to stay in their new role for less than a year or were already seeking a new position elsewhere. The main reason given was that the organisation was not accurately portrayed in the recruitment and interview process – 83% felt the organisation did not live up to expectations.

A third of interviewees said their role had changed significantly from the one outlined at the interview stage and were more likely to consider quitting in their first 90 days. A hasty move may mean you find yourself in a cultural mismatch, leading to short term dissatisfaction or potential long-term negative impact on your career.

The executive self-audit: What to know before you leap

Before you leap into action, take a moment to look closely at yourself and where you are right now. Review your values and priorities, and really get to know yourself, so you can more readily identify any red flags. This will help you develop criteria against which you can assess the suitability of the role. Ask yourself: What are you most proud of, in your career to date? What is your leadership style? What’s your work/life integration ideal?

Next, complete a skills inventory. Use a SWOT analysis to identify what you do well, skills you lack, current trends and anything that might expand or limit your possibilities. Take time to clarify your personal brand, and your direction of travel: what are you known for, and what do want to be known for next? This reflective work is vital but is hard to do if you’re solely relying on your own perspective. Ask your colleagues, friends and family for their insights. You will then be in a position to develop clear goals for your next role.

Build a targeted executive brand (not just a CV)

Once you have a clear idea about your goals, what you can offer and what you want from a new role, take a step-by-step approach:

1. LinkedIn: Most recruiting executives and search consultants use it to find or review potential candidates. Audit your headline and ‘About’ section to ensure your strengths, skills and achievements are easily searchable, readable and compelling.

2. Your CV: review your CV in the same way. The top half of the first page is critical. Prioritise and re-order achievements and deliverables so they address the role description.

3. Action plan: develop a detailed, deliverable action plan with measurable goals each week/month/quarter. Remember to build in rewards for even minor wins.

4. Continuous development: What courses, conferences and other events might you attend to improve your knowledge and skills around your goal role. Use podcasts, panels, and articles to improve your visibility.

5. Take action: as LBS’s Herminia Ibarra writes, the most common path to career transition is to do something on the side. You will cultivate knowledge, skills, resources and relationships through this process.

Networking that actually works

Probably the most important action you can take towards building the career you want is to build your network. Data show many executive roles are filled via networking rather than advertised jobs. Research by London Business School with Harvey Nash found that 68% of appointees were previously known to the organisation.

There are many reasons to build your network and each of these will determine the different types of contacts. Ibarra and Hunter in their 2007 paper How leaders create and use networks provide useful categorisations to help you think about your existing contacts and where further investment may be beneficial:

• Operational networks – are internally and task focused. They include your immediate team, superiors, peers, suppliers and customers.

• Personal networks – provide a safe space for personal development and testing new ideas. They may be internal or external contacts, from professional organisations and alumni groups.

• Strategic networks – consider broader strategic issues, to diagnose the professional and political landscape. These may be lateral and vertical connections outside the organisation and include mentors, aspirational companies and peers.

These groups are not mutually exclusive, but awareness of these categories will help build a comprehensive network as a strategic resource. Your network will help you excel in your current role and facilitate your longer-term career goals. Remember when contacting your network, spam is only spam if it is not relevant to the recipient. Keep contact meaningful and consistent, and record it on a networking calendar.

Actions for breaking through

In summary: use your new year momentum and energy to gain traction in your job hunt but stay strategic and don’t rush. Take action towards greater self-awareness, building your brand and growing your network so you can be confident of landing your next rewarding and fulfilling role.