Navigating the Uncertainty!
The departure of a boss can be a moment of uncertainty, but it's also an opportunity for growth and new beginnings. If your boss was the professional who brought you into the firm and you have lost your political protection, you need to think carefully. Maybe your boss was a mentor who guided you in making key decision. Their absence will undoubtedly create a shift in your work environment. So, what should you do when your boss leaves? Here are five actionable steps to help you navigate this transitional period successfully.
1. Assess the Situation
Understand the Reason for Departure
The first thing you should do is understand why your boss left. Was it a voluntary decision, or were they let go? The reason for their departure can offer clues about potential changes in your department or company. Your boss might not tell you the full story for legal or other reasons.
Evaluate Your Position
Take a moment to assess where you stand in the organization from a political point of view. Are you next in line for a promotion and have multiple management layers of support, or are you at risk of being laid off? In my experience in 15 years at Credit Suisse and Merrill Lych, 70% of those laid off never saw it coming. Don't’ let your eago fool you.
2. Communicate Effectively
With Your Team
Open and honest communication is crucial during times of change. Schedule a meeting with your team to discuss any immediate concerns and to ensure everyone is on the same page. Then take each team member out for a casual beer, and after 3 rounds, you will get the real scoop how they are feeling.
With Upper Management
Don't hesitate to reach out to higher-ups for information. They can provide insights into the company's plans and how the change might affect your department. At the endo f the day, though, be somewhat skeptical as upper management is groomed to speak in circles
3. Be Proactive
Take Initiative
In the absence of a leader, there's often a void that needs filling. This is your chance to step up and show your capabilities. Don’t wait to see what senior management will do; create a gameplan and lobby for more senior work.
Update Your Skills
This might be the perfect time to learn new skills or update existing ones. Consider taking internal or external courses or attending workshops that will make you more valuable to the company.
4. Prepare for a New Boss
Research and Adapt
Chances are, a new boss will be appointed sooner or later. Do your research on them and be prepared to adapt to their leadership style. You must know someone who has worked with them before, whether you realize it or not.
Make a Good First Impression
First impressions last a lifetime. Create a list of all the projects your old boss was managing and give the new one a status update and your recommendations for improvement.
5. Reevaluate Your Career Goals
Align With Company Objectives
With the departure of your boss, company goals and objectives might shift. Make sure your career goals align with these new directions.
Consider Other Opportunities
If the new changes don't align with your career path, it might be time to consider looking for new opportunities. Update your resume and LinkedIn profile, and start networking.
The departure of a boss can be unsettling, but it's also a time of opportunity. By assessing the situation, communicating effectively, being proactive, preparing for new leadership, and reevaluating your career goals, you can navigate this period of change successfully. Remember, every end is a new beginning. Make the most of this transitional phase to grow both professionally and personally.
Mike Mittleman is a career coach whose business focuses on finance professionals based in the NY/CT/NJ tri-state area, helping navigate their career paths with confidence and success. For more tips and personalized coaching, visit mikemittleman.com.
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