How do I know if it's time to move on?

Leaving a relatively secure position to take on a new role is a difficult decision, even for the most seasoned executives. Feelings of ambivalence, excitement, fear and even guilt, are all natural and understandable parts of such a big change.

As a recruiter, I can serve as a helpful sounding board to my candidates while shepherding them through the interview process with my client.

But where does that leave the hundreds of other people who reach out seeking career guidance? Beyond keeping them on the radar screen for potential future mandates, my capacity to help is limited.

Understanding the current job landscape and building relationships with recruiters is just one small part of thoughtful career management.

I promise some tactical guidance is coming, but please indulge me for a moment as I make the case for addressing and overcoming ambivalence (either independently or with a coach) early on.

Creating time and space to develop real clarity on your current situation, strengths, areas for development and career ambitions could make the difference between a move that is transformational and one that ends up being just more of the same.

Working with an (independent) executive coach can be incredibly high leverage.

There really is no substitute for the guidance of a professional who can spend a significant amount of time understanding you, challenging you and offering objective perspective. There are many coaches serving the asset management industry, some with a deep understanding of the nuances of client-facing roles.

Perhaps as a first step, I wanted to share what I’ve learned through years of interviewing candidates about their job moves, motivations, satisfaction, accomplishments and, sometimes, regrets and missteps.

I offer a series of questions and red flags to consider in support of those seeking greater clarity on their current situation.

If these questions spark a desire to go deeper, please reach out or tap your network (including me) for executive coach recommendations. * I am not currently coaching but am very happy to help with referrals.

Questions to consider before seriously exploring a new role:

• Does my resume reflect loyalty and progression in prior roles? Or is it a series of 1-3 year moves? What patterns emerge as I consider my career history?*
• Have I initiated transparent conversations with my manager and shared my concerns?
• Do the current dynamics reflect a good situation turned bad or was this role or firm never a good fit from the start?
• Am I staying in this role out of hope for what it could be rather than what it truly is?
• Is a complete career transition what I really need? What is the likelihood that a similar role elsewhere solves the fundamental problem?
• Am I allowing leadership to make assumptions about my ambitions? Have I clearly communicated my goals?
• Have I sought honest feedback around areas for development? How have I handled it? Is my reaction to constructive feedback serving me or holding me back? Am I really doing the work?
• Have I taken responsibility for managing my own internal brand? Are managers and colleagues aware of my contributions?
• Have I taken the initiative to get to know my co-workers on a personal level and build strong relationships at work?
• How would I describe my situation? My prior moves? Am I using language that demonstrates ownership and accountability? Or is it always circumstances outside of my control?
• Am I heading towards burnout? Do I really need a sabbatical instead of garden leave? A real vacation? The courage to initiate a tough conversation around work/life boundaries?
• Can I solve my desire to stretch and take on a new challenge within my current organization? Have I explored this thoroughly or am I making assumptions? Do I really need to leave?
• What is my definition of “success?” Beyond accomplishments, titles, compensation and accolades, what would a more holistic definition of success look like?

This is by no means a comprehensive list, but reaching clarity on these questions will put you strides ahead of most job seekers.

The questions above explore topics that you generally have agency and, arguably, responsibility for.

But not all situations are redeemable.

While the red flags below do not automatically tip the scales in favor of finding a new role, they certainly serve to build a stronger case for it.

Red flags:

• You have no visibility on career progression and a long-term path with your current firm *in spite of initiating conversations and being open to feedback.
• Firm leadership isn’t communicating a clear and thoughtful business strategy or you fundamentally disagree with what is communicated.
• There is a fundamental breakdown of trust and lack of congruence between statements and actions over a sustained period of time with no resolution on the horizon.
• Expectations of your performance lack alignment with reality and/or are not backed up with adequate support.
• Work stress is having a negative impact on physical and/or mental health and family life is suffering in spite of best efforts (exercise, adequate sleep, meditation, coaching, therapy etc.) to mitigate its impact.
• The firm is hiring new team members without your involvement in the interview process.
• There is a new excuse every year as to why a firm cannot meet compensation expectations.
• There is a chronic pattern of contributions not being recognized and appreciated; even worse, others are taking credit for your work.
• You’ve gotten to know co-workers on a personal level and realize you’re surrounded by people you neither genuinely like nor respect.
• Internal friction makes competing externally way more difficult than it needs to be.
• You feel a strong lack of alignment between firm values and your own.
• Work / life balance, family obligations and boundaries are chronically not respected.

Sometimes you take a look around your current firm, particularly towards more senior colleagues, and realize there isn’t anyone whose job (or life) you would aspire to.

This lack of representation presents a challenge – do you give it your all in an attempt to create the change you’re seeking and potentially pave a better path for others coming up the ranks? Or do you move to a firm with a more aligned culture where the fit would be more organic and immediate?

Examples include:

• a father with the strong desire to be an equal partner and involved parent knowing he would be first to take paternity leave and manage his priorities differently at a firm with “old school” culture
• a women on track to become the first female partner at the firm navigating what others have referred to as “so much B.S.” before they resigned
• a triathlete with a commitment to staying competitive but the firm’s chronic hustle culture leaves little time for training

Does your current situation serve as a supportive platform to satisfy your unique definition of success?

Sometimes exploring other roles serves to validate your current seat is in fact the best possible one. How great to arrive at this discovery through intention vs. inertia.

“And the end of all our exploring will be to arrive where we started and know the place for the first time.” ~T.S. Elliot

So, by all means, explore. But perhaps start with some internal exploration first....

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* if your resume is a series of 1-3 year moves, finding a great executive coach vs. seeking a new job is critical. When approached with an attitude of openness, humility and curiosity, working with a great coach can help uncover patterns, challenge you to consider your contribution to sub-optimal situations and help you avoid future mis-steps. Sometimes frequent moves really are the result of sheer bad luck. Often times they’re not. At best, frequent moves present an optics problem that prevents you from being considered for good quality roles. This can become a tough cycle to break out of, so it’s worth the time and financial investment to consider coaching vs. job hunting at this moment.

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Additional AMAs and reports can be found here: https://willowhilladvisors.com/thought-leadership/

From vetting talent, taking on a leadership role, dealing with headhunters, orchestrating a graceful exit, considering a counteroffer, mending professional relationships to hearing LPs dish on best (and worst) practices of marketers, I've got you covered.

A former boss once quipped “Laurie’s directness can be a surprise to the uninitiated.”

Welcome to Ask Me Anything. Consider yourself initiated!

As always, feedback, questions and topic suggestions are welcome and appreciated.

~ Laurie

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About Willow Hill Advisors

Laurie Thompson founded Willow Hill in September 2019 after spending 16 years in the financial services practice of Heidrick & Struggles. She has placed fundraising and investor relations professionals from the Partner, Head of Global Distribution level through Associate, with a concentration on senior-level hires. Clients (hiring firms) are predominately top-tier alternative investment managers.

Willow Hill is exclusively a retained firm and executes only a select number of mandates at a time, ensuring hiring firms receive the highest level of focus and attention. Through deep market knowledge, long term relationships and established trust, Willow Hill provides unconstrained access to top caliber talent while ensuring potential placements are thoroughly vetted and referenced.