Submitted by rickmonro on
BLUF: Our talismanic MD is leaving, and taking a lot of the spirit of the business with him. Many of the good folk are leaving, or planning to leave.
I know there are a couple of 'casts on the subject of the boss resigning, this issue has an added sense of urgency in that:
- We are small company (40 people) owned by a larger PLC having been bought over a couple of years back. The wider Group is losing money, we are the only proftable company within the Group at present. However the Group's influence typically prevails over the individual strengths of our company (a key factor in our MD deciding to go)- He has decided to leave (not acrimonious, but not amicable split). Many of the good, young performers see this as 'the end', and are preparing to leave; some have already secured new positions
- Our MD has been central to our success, having created a culture that contributes to that success
- The company WILL suffer financially and culturally as a result of the MD going. It is a case of how bad the damage will be, with no way of knowing what kind of company will be left at the end of the shakeout. It will definitely be a lesser company, as certain key clients will not stick around
- As a senior manger, the right opportunities for me elsewhere are harder to come by
My decision is whether to a) go as soon as I can find a suitable position elsewhere or b) to stay and see if there is valuable experience (and/or opportunities) to be had in picking up the pieces and regrouping
My thanks in advance.
I would say look for
I would say look for positions, but don't leave until you have something. But it never hurts to look for positions, so I'd look hard for positions.
Definitely stay. Based on the assumption you weren't already considering options. Because:
1. You don't know yet what the effect will be.
2. You are in the perfect position to gain from the situation, if good people are leaving, there may be scope for your development.
3. You have a lot of good will where you are and none of you move
None the less, make sure your network is warm in case it isn't working out.
Chief Executive, Connect Support Services Ltd. - London based cloud & traditional IT services for SMEs
http://uk.linkedin.com/in/markodell100 - https://twitter.com/mark_odell
Thanks for your replies.
It's difficult to describe just how poisonous the atmosphere is. We have had another resignation this morning, one of the best guys in the company, who cannot see a future for himself here. It only takes a couple more of those before our delivery capability becomes severely compromised.
While opportunity might exist off the back of the turmoil, my fear is that being associated with what is left of the company will harm my career longer term.
Any further thoughts and inputs much appreciated!
I guess I would agree with Mark and stick it out. I have been through 2 buy outs and I've both started to look for a job right away and held on. You have to decide what is best for you; however, I caution that sticking it out will help you learn things that you may not otherwise learn. Also, how do you know that you may not be able to leverage your experience to move up and make things better?
I don't think being associated with any particular company long term could hurt your career. The one example I'll use is Mike was at MCI Worldcom. That hasn't hurt his prospects any.
Look for opportunities while you plan on staying
It is not either or.
You are in that middle 80%. Plan on staying but start actively being open for opportunities. If something unbelievable turns up then you leave. If nothing good comes of your openness then you can stay.
Hold on!...for the moment
Agreed with some of the other posters here. Stick with it for the moment.
I was in a job for only six months when my boss and his boss both left to start a competing firm. I was left essentially holding the bag for Asia Pacific operations for 18 months.
This means that when I acted above my pay grade, the remaining bosses were appreciative that I was stepping up. They have me tons of space and were more forgiving of my mistakes.
During that time I kept looking, and at the end of the 18 months, I got offered a job commensurate with all that I had proven I could do (which I would probably have never gotten the chance to if my bosses had stayed).
What did you do?
It would be great to hear what decision you made and how that has worked out 6 months on.
My advise would be to buy
My advise would be to buy the interviewing series and follow all the steps - I mean get really good at it before you actually jump into the market. Also, an assessment of your past " significant accomplishments" at the firm would be in order. It is likely that once your old boss gets settled he'll probably give you a call and lastly life is all about attitude - I'd assume a positive result until it is proven otherwise. All the best and I bet it works out just fine for you in the long run. Tim