You're considering an executive role change. How do you decide between temporary and permanent positions?

Deciding between a temporary and permanent executive role involves weighing several factors. For temporary roles, consider the opportunity to gain diverse experiences, flexibility, and the chance to quickly impact projects. It's ideal if you're exploring different industries or waiting for the perfect permanent opportunity. For permanent positions, think about job stability, long-term career growth, and the ability to deeply influence the company’s direction. Evaluate the company culture, growth potential, and alignment with your career goals. Ultimately, choose the path that best fits your current career stage, personal circumstances, and long-term objectives. Both paths offer valuable opportunities!

Consider the impact on your personal brand. A series of temporary roles might position you as a versatile problem-solver, ideal for turnaround situations. Permanent positions can showcase your ability to drive long-term transformation and build lasting teams. Reflect on which narrative aligns with your desired career trajectory. Also, consider the industry - some sectors value stability, while others prize adaptability. Your choice should reflect not just where you want to be, but how you want to be perceived in your field.

Considering a change in your executive position? Carefully assess whether a temporary or permanent role best suits your career goals. A temporary role offers flexibility and the chance to explore new areas or tackle specific challenges. This can be beneficial if you're considering a career change or want to gain diverse experience. On the other hand, a permanent position provides stability, opportunities for long-term growth within a company, and a deeper involvement in its culture. Ultimately, the best choice depends on your career aspirations, personal preferences, and desired work-life balance.

What are you trying to accomplish? You have to define what you want to know which role will best serve you to get to your goal. Will a temporary role as a CXO position give you an upper hand to move into a full-time role and give you a perspective you deem necessary to further help you? Then perhaps a temp role will work. If your personality enjoys more contract style work and you get bored easily, perhaps temp contracts are the way to go for you. If you need the stability and want the longevity in building a company and laying down roots with an organization within which you can grow, flourish and develop, then perhaps a more permanent role will work. You must first define what you want, your goals, and how you want to achieve them.

Considering a change in your executive position? Carefully assess whether a temporary or permanent role best suits your career goals. A temporary role offers flexibility and the chance to explore new areas or tackle specific challenges. This can be beneficial if you're considering a career change or want to gain diverse experience. On the other hand, a permanent position provides stability, opportunities for long-term growth within a company, and a deeper involvement in its culture. Ultimately, the best choice depends on your career aspirations, personal preferences, and desired work-life balance.

Assess the depth versus breadth of experience. Temporary roles offer exposure to diverse challenges, industries, and leadership styles, fostering adaptability and cross-sector insights. This can be invaluable for developing a holistic business perspective. Permanent positions allow you to delve deeper into specific challenges, potentially becoming an industry expert. They also offer the chance to see long-term projects through from conception to fruition, providing a sense of accomplishment and measurable impact that can be harder to achieve in short-term roles.

If you want to depend on a company for your upward growth and mobility, you need to assess what type of role will be best for you. You might find a long-term full-time role but with little to no upward mobility. Perhaps it's a family owner company and only family has X roles. Or you might find that there isn't any upward mobility in the organization at all. On the flip side, temp contracts may not provide you the upward mobility you look for either. They may provide to you a lens through which you can see various ways of conducting business, but it might not provide the financial security a corporation with a growth track can provide. You will need to do your homework on this one to see which lane is best for you.

The financial implication is of course crucial to the decision-making process. Do you need more than a salary? How about bonuses, stock options, 401k, etc? Often times temp contracts will pay large amounts, but it will require your knowledge of investing or budgeting out correctly your needs financially without any other safety net.

Consider the long-term wealth building potential. While temporary roles may offer higher immediate compensation, permanent positions often come with equity options, profit-sharing, and long-term incentive plans that can significantly boost overall wealth. Also, factor in the cost of periods between contracts for temporary roles. On the flip side, the varied experience from temporary positions might position you for higher-paying roles in the future. Weigh immediate gains against long-term financial security and growth potential.