The Art of the Exit Strategy: Preparing for a Worst-Case Scenario
Sep 12, 2024
"I’ve never been more motivated to succeed—both in my role and outside of it—because I know my leader supports my growth, even beyond the company. Can I say that about all my past employers? Absolutely not. And that’s why I’m not with them anymore."
Cameron reached the top of the HR leadership ladder but soon found themselves facing a potential turning point: the company they worked for was being sold, and suddenly, the future felt uncertain. With an eye on what might come next, Cameron began thinking about the exit strategy every senior leader should have but few prepare for—what to do when the career you’ve built begins to shift under your feet.
This is a scenario many in the C-suite encounter. You’ve achieved everything you set out to, but the company, or your own ambitions, are leading you toward an inevitable change. So, where do you go from there? For Cameron, the answer was clear: start pursuing a new passion, even while still serving as a Chief People Officer.
“I realized what truly fulfills me is helping different organizations be successful,” Cameron said.
Cameron will share their story live at our upcoming Element of Change Virtual Forum on Friday, October 11th 2024 at 8a PT / 11a EST, where they’ll discuss navigating transitions while staying ahead of the curve. Launching a new venture is daunting enough without juggling a full-time executive role, but Cameron had something many leaders don’t: a CEO who actively encouraged the pursuit of outside passions. In a company culture that prioritized holistic growth, Cameron found the support needed to make both roles work.
“He wants to know what’s most important to you—professionally, personally, and financially,” Cameron said.
For many senior executives, having outside projects isn’t just a side interest; it’s essential. According to a 2020 Harvard Business Review study, nearly all senior leaders said companies benefit when employees are engaged in outside endeavors.
Here are three key takeaways from Cameron’s story:
1. Supportive leadership fosters growth.
Cameron’s decision to pursue side work was met with openness and encouragement from their CEO. This level of support not only empowered them to take on new challenges but also increased their loyalty and productivity within the company.
2. Cultivate passions beyond the C-suite.
For leaders at the top, staying engaged outside of their primary role is critical. Cameron’s leader highlighted the risk of tunnel vision when executives focus solely on their corporate environment: “If you get stuck in the environment that you’re dealt in, then you stop learning.”
3. Open policies lead to retention and job satisfaction.
Rather than feeling constrained, Cameron was given the freedom to explore their side venture without fear. This trust created a more fulfilling work experience and enhanced Cameron’s long-term commitment to the company. While it may seem risky to allow leaders the freedom to engage with outside opportunities, Cameron’s story proves it can lead to enhanced job satisfaction, personal fulfillment, and even greater productivity within the organization.
"It’s hard to not follow the passions you’re truly being called to pursue," Cameron said. "But knowing I had the space to do both? It’s probably made me work harder."
Are you a senior leader navigating your own transition or considering a side gig?
Join us at our next forum to connect with others who understand the balancing act of leadership and passion projects. Find a supportive community that will help you explore your next steps with confidence.
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