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The Executive’s Career Strategy for the Current Economic Climate – March 2020

March 2020 – Special Report

The Executive’s Career Strategy for the Current Economic Climate

Josh Wimberley, founder and CEO of Lead5 here.  I wanted to provide a mid-month update given the unprecedented nature of the last two weeks. As you can see from Lead5 metrics, there is a sharp decline in executive opportunities and PE deals, accelerating the trend revealed by February’s data. I’ve been receiving phone calls from executives who I have assisted over the span of my career, and a lot of our conversations have revolved around the appropriate career strategy during the near-term economic slow-down. I decided to compile and disseminate this information in the hope that it will be valuable to you.

  • If you are in the market seeking opportunities, you can expect opportunities to be frozen or put on-hold and a continued slowdown in executive hiring. My advice is to use this period as an opportunity to undergo some introspection on your career and your marketability and perform some important research steps that will give you increased leverage in the marketplace.
  • Polish your CV. Many executives wait too long to do this so don’t be caught off-guard when the next opportunity arises.
  • Network. During economic turmoil, it can be challenging to network with members of the C-suite; however, corporate in-house recruiters are prime candidates for your outreach. Remember, you have a green light to reach out directly to corporate executive recruiters in the same manner you reach out to traditional executive recruiters (contact information for these in-house corporate recruiters can be found with their respective companies in the Lead5 Company database).
  • Research Companies. I have helped executives land positions with great firms that they never knew existed in their industries and preferred locations. Part of our mission at Lead5 is unveiling this information and I encourage you to start building your company list today. This puts you in the driver’s seat so that you are no longer waiting on a recruiter’s phone call.
  • Career Consultation. This is a complimentary and confidential session where all career questions are welcomed. To set that up, you can email me directly at josh@lead5.com

I hope this blog is useful to you as you navigate these extraordinary times and I wish you and your family safety and good health. If I can be of service, please don’t hesitate to reach out at josh@lead5.com.

Sincerely,

Josh

Josh Wimberley | Lead5 Founder and CEO | josh@lead5.com
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Boost Your Executive Opportunities by 200%

Boosting your executive opportunities by 200% is easier than you think.

Are you an executive who is seeking ways to increase your market exposure?   The good news is that it’s easier than you think.   From placing top executives in leading firms for over two decades, here is a trap to avoid and a tactic that is proven to work:

  • Trap to avoid: many execs I consult with rely solely on their own professional network to seek new opportunities or they select a few executive recruiters they have come in contact with over the years.  While it’s smart for you to tap into this network, you must realize that this represents only a small fraction of available opportunities.
  • Best method: I emphasize to my executive clients the need to be proactive.  This means researching and discovering the companies and opportunities that fit your background and marketing yourself directly to those company’s key contacts. It also means marketing yourself to the relevant industry or functional practice sector consultants at all the major, regional, and boutique executive search firms, not just the select firms you know from the past.
  • How can you start today? My company Lead5 offers comprehensive lists of companies that you can filter by position, region, company size, industry, and ownership structure.  This list, combined with Lead5’s intel of executive departures, yields companies that are strong candidates for your outreach. Lead5 also maintains an executive recruiter database of the leading US-based retained search consultants for firms of all sizes, sortable by the Lead5 filters.
  • Start small, think big. If you deployed this proactive methodology, even sending only one outreach per week, you are exponentially increasing your chances of being discovered.

To wrap this up, I encourage you to take a proactive role in your career.   This is the best way to maximize your value in the marketplace.  I see too many executives waiting on a phone call from a recruiter or over-relying on their own professional network.   By expanding your comfort zone, you are positioning yourself for career growth and stability.