The Penalty for Early Success
J.T. O'Donnell
Founder & CEO, Work It DAILY | Board of Directors, McCoy | Career & Professional Development | Job Search | HR & Recruiting | Employer Branding | Recruitment Marketing | Talent Management | Executive Coaching
Dear J.T.
Why am I feeling bad that I worked so hard to reach to the top in my industry segment at an early age and now I am stuck. I want to learn more, face new challenges but why does it become so difficult to switch career after you have attained a senior level."
This reader is experiencing a common downside to being successful in a career. A penalty for doing well. He's not alone. Here's why...
The Success Penalty is Giving Rise to Professional Emancipation.
Since launching the company, CareerHMO in 2012, I've been obsessed with the concept of Professional Emancipation. Our team has been researching the trend and there's conclusive evidence to support there's a major collective shift in our career mindsets occurring within society. In fact, my team designed an Evolution of the Employee Infographic that documents this trend. Here are some additional stats to prove it:
- 72% of workers would rather work for themselves.
- 86% plan to actively look for a new job this year.
However, in spite of the research and stats, the reality is the majority of our dissatisfied workforce won't do anything of impact to improve their situation.
- 70% of employees aren't seeking any help with their search.
- 58% of workers think they don't need help in their careers and can figure it out for themselves.
Why are so many professionals unhappy, but unlikely to change their situation? The answer lies in the Golden Handcuff Effect.
Golden Handcuffs = Held Hostage By Pay & Benefits
When we are unhappy in our career but don't know what to do to change it, it's far easier to rationalize we should stay in our current situation because of the pay and benefits. After all, we have financial obligations and a lifestyle we wish to uphold as a way to offset the career dissatisfaction. Suddenly, the Golden Handcuff Effect takes hold. We feel held hostage by our employer. We have feelings of conflict. We know we should be grateful to have the job, but we can't get rid of the nagging feeling that our career isn't within our control. It feels like we are accepting a bribe - there is something unsettling about the situation, but we feel powerless to change it. Sound familiar? If so, then I suggest you read on. Recent history indicates if don't address it, you could find yourself in the unhappy position millions of fellow workers who didn't pay heed are in now.
Example: Laid-off (Set Free), But Struggle Nonetheless
Ask someone in their 40s, 50s, or 60s who got laid-off in this recent recession from a job they didn't enjoy how hard it was to find work. First, they got let go - a total shot to their confidence. Then, as they looked for a new job, they couldn't find anything that inspired them. Soon after, they realized they needed a job ASAP, but because they'd been laid-off and didn't have a clear plan and passion for their next career move, they are discriminated against. Before they knew it, they were out of work for more than a year, their savings were gone, and their financial situation was, and still is, unstable. Try being optimistic about finding a satisfying career with that hanging over you? It's not easy. These folks learned the hard way how Golden Handcuffs will ruin your career - even if you are set free.
Solution: Professional Emancipation
The best way to avoid the very real scenario above is to recognize you are not an employee. You are a business-of-one. It's time to take full ownership and learn to engage in smart business practices that will strengthen your professional position. I'm not suggesting everyone quit their jobs and start their own businesses. That's not necessary. What I am suggesting is you treat your career as a business, and learn how to work "with" employers instead of "for" employers. This fundamental shift in mindset will help you see what you need to do to take control and find the kind of career success and satisfaction you want and deserve.
In the case of the reader above, you need to think about what skills you want to leverage in your next career, and then build a gameplan to market those skills to the right employers. A proactive effort to seek out what you want is the only way you will be able to pivot in a new direction. And, keep in mind that the more trade-offs your are willing to make (ie. taking less pay to get into a new industry with the intent to rise quickly to make the money back,etc.), will help you get to a new career faster.
A Final Reminder - Don't Go It Alone!
While you have risen to the top in your career, you undoubtedly had mentors and coaches along the way. They most likely came in the form of parents, teachers and managers. Now that you want to make a career change, you'll need a new set of folks to help you. Invest in getting yourself the right mentors and coaches so you can hyper-speed your results. You'll be glad you did!
P.S. - Have we met yet? First, thanks for reading my article! I have the privilege of being the CEO of CareerHMO.com. Besides writing for LinkedIn, I also write column for INC Magazine is called "Workplace Referee." I invite you to CLICK BELOW on some of my most popular articles:
8 Workplace Personas - Which One Are YOU?
3 Reasons Millennials Are Getting Fired
How to Get 1,000,000 Followers on LinkedIn
7 Signs You Should Take That (Scary) Risk
9 Signs You Should Run From That Job Offer
Customer Service Representative at Minacs Marketing Solutions, A Concentrix Company
6 年While my ideal career would obviously be self-employment, I will settle for practically any job that provides financial security. Unless I am my own boss, there is not a job in this world that I would absolutely love. Instead, I'd be more than happy to settle for just a job; the comfort, the security, the satisfaction of just having a decent job to go to every day. I've accepted the reality that I will never be crazy about a job unless it is a business that I've created using my own ideas and perspectives, not someone else's. But that doesn't mean that I would not be a good employee. I find workplaces stressful and it is rather difficult to go by someone else's rules, procedures, ideas, etc. Working for someone else, no matter how awesome the company, leaves me feeling emotionally deflated, there is no love for the job, only tolerance and an earnest desire to succeed and be an asset to the company.
Executive @ Novartis | Strategy Execution and Operations Excellence
8 年interesting article where can I sign up?
Program Manager/Scrum Master, Drove: Cisco's Responsible AI & Software Supply Chain (SBOM) compliance initiatives; PM/Scrum Master: AI/ML, Data Center Decommissioning; IT Infrastructure & Security; Prod. Releases
8 年Over the past decade, I've noticed that the life span of a company has been shrinking (now under 10 years), the life span of a full-time job has been shrinking (in Silicon Valley, it is now around 18 months), and the difference between contractors, consultants, and full-time employees has been shrinking. It is getting harder and harder to be "shackled to a job."
Senior Accountant at chittanong Washing limited
8 年??????
Consultant: Wells&subsurface Ops
8 年Jeanine, One of the best Career advice I've ever seen " The best way ................ is to recognize you are not an employee. You are a business-of-one. It's time to take full ownership and learn to engage in smart business practices that will strengthen your professional position".