Ponder on the concept of "Rewirement" instead of traditional retirement.
In the twilight of a successful corporate career, many executives find themselves pondering the next chapter in their lives. This transition, often referred to as "rewirement," requires careful planning and strategic approach. Here are key considerations and a structured approach for executives transitioning to new roles, as advised by Anne Chow, author of the national best-seller "Lead Bigger: The Transformative Power of Inclusion."
## Key Considerations for Rewirement
1. **Purpose and Meaning**: Discover what truly matters to you beyond your corporate role. This could include personal interests, family, learning, or contributing to society. 2. **Gradual Transition**: Consider a gradual transition rather than an abrupt one. This allows for a smoother shift in roles and responsibilities. 3. **Networking and Community**: Engage with communities or networks that align with your post-corporate goals, such as mentorship or joining organizations focused on professional transition. 4. **Personal Development**: Continue learning and developing new skills that align with your new path. 5. **Support System**: Build a support system of peers, mentors, or coaches who can guide you through this transitional period.
## Process for Executives Transitioning
### 1. Self-Reflection and Goal Setting - Assess your current role and responsibilities to understand what you want to leave behind and what you want to carry forward. - Define what you hope to achieve in your "rewired" life, whether it's more family time, personal projects, or contributing to social causes.
### 2. Explore New Opportunities - Identify areas of interest or passion that can be pursued during this transition. - Engage with professionals in your desired field to gain insights and advice on how to transition successfully.
### 3. Develop a Transition Plan - Plan a gradual reduction in current responsibilities if possible, allowing time for training or mentoring successors. - Invest in skills relevant to your new pursuits, whether through courses or personal projects.
### 4. Execute the Transition - Inform relevant stakeholders about your transition plans and ensure a smooth handover of responsibilities. - Begin new projects or roles that align with your "rewirement" goals.
### 5. Monitor Progress and Adjust - Check how your transition is progressing and make necessary adjustments. - Continue learning and adapting to new challenges and opportunities.
By focusing on these key considerations and following a structured transition process, executives can successfully navigate their "rewirement" and find fulfillment in new roles outside of traditional corporate leadership.
Anne Chow, who serves on the boards of three public corporations and is the sole proprietor of her own business, The Rewired CEO, emphasizes the importance of self-reflection, goal setting, and networking during this critical period. After spending 32 years at AT&T Business before deciding to leave, she calls her new career phase a "rewirement."
However, even in the perfect rewirement role, significant challenges to one's sense of self can occur. High-achieving professionals should be introspective about potential identity shifts during rewirement. To gain classroom experience and become a more attractive candidate for teaching positions, one can offer to be a guest lecturer or reach out to their alma mater.
Remember, preparation is key. Doing one's homework is essential to have options when ready to start rewirement, as many people lack options due to lack of preparation. Whether you're aiming for a board seat, teaching, or a new business venture, research is crucial to realize your goals during rewirement.
In conclusion, a successful rewirement requires careful planning, introspection, and a supportive network. By following Anne Chow's advice and the steps outlined above, executives can transition smoothly into their new roles and find purpose and meaning beyond their corporate careers.
- To find a fulfilling lifestyle during 'rewirement', executives might want to consider engaging in education-and-self-development or career-development opportunities, such as taking courses or guest lecturing, to enhance their skills and appeal for roles that align with their new passions.
- In the process of 'rewirement', executives might want to explore business opportunities related to their interests, attend networking events for professionals in these fields, and seek advice from successful individuals who have transitioned successfully, thus ensuring a smooth transition and financial stability in their post-corporate life.
