Is It Time to Move On?

You've achieved what many only dream of - the pinnacle of your career. Your results are strong, and you have built a great team around you. But here's a question that might keep you up at night: Is it time to move on?

It's counterintuitive, isn't it? Just when you're reaping the rewards of your hard work, research suggests it might be time to consider your next move. Dr. Ines Wichert's work indicates that 3-5 years in a senior management role is ideal (lower for more junior roles).

Like all decisions, considering your role tenure needs to be weighed carefully, and biases need to be unearthed and considered:

1. Identity Fusion: Your role has become who you are. Changing your job title can feel like changing your name! On the other hand, connecting your professional identity to one role may be very limiting for the future. Now is a great time to define your professional identity and understand how your current role fits.

2. Loss Aversion: The fear of losing what we have often outweighs potential gains. Leaders can be daunted by new roles, and overestimate risk and underestimate reward. Past triumphs are wonderful, but they can create blind spots. For example, we can assume that our current success will continue, which may not be the case. In fact, performance can often dip due to lower levels of energy and innovation. Leaders should try to be as future-focused as possible when considering options.

3. Opportunity Cost: Executives should consider what the marginal benefit of another year in their current role is, and compare that versus new opportunities. They should also remind themselves that their runway for future career steps is shortening. Leaders should think about their end game, and make sure that there is adequate time for each stage in their career.

Some reflective questions that leaders should explore include:

1. How would you define your professional identity beyond your current role?

2. What excites you about the possibility of starting fresh?

3. Are you still driving innovation, or maintaining the status quo?

4. When was the last time you learned something that fundamentally changed your perspective?

5. How does your current position align with your long-term vision for yourself and your impact?

These aren't easy questions, but they're crucial for personal and professional growth. It takes courage to recognize when you've outgrown a role, even one you've worked hard to achieve. Your next chapter could be even more fulfilling than the last. Are you ready to write it?