Stability of job has been the key thing for mid-tier executives. Not anymore?experimentation has taken over. If trends are any indication? from taking sabbaticals to plunging into entrepreneurship – mid-level executives are venturing into one and all. And women are taking the plunge to. ?Once women reach the mid-career stage, work-life balance becomes top priority,? says Ma Foi vertical head (international search) Uma Srinivasan. Srinivasan herself gave up a career in sales & marketing and opted for head hunting.
?Increasingly, mid-level executives are wanting to opt out of the rat race for a while. Some travel across the globe, some even party and play golf, while others take a sabbatical,? observes Ronesh Puri, managing director of search firm Executive Access.
?The new generation of 30-40 year olds exhibits tremendous amount of self-confidence. They are truly mobile in terms of their career and locations. The previous generation viewed anything new as risky and therefore opted for stability,? says Indian School of Business deputy dean Ajit Rangnekar. Moreover, sabbaticals at the mid-level is gaining prominence, with the coming in of institutes such as the Indian School of Business (ISB) and Great Lakes Institutes that take in students with a few years of work experience. In some cases, it is translating into a 360-degree career shift. Dr Major Biju Mohan Das joined the Indian Army during his internship in the backdrop of the Kargil war. Post war, Das continued working with the armed forces for five years before joining ISB. From a bachelors in dental surgery (BDS) to an MBA, and now a career in the NGO space, he has been there, and done all.
The growth of new sectors like retail and aviation is also propelling a major career shift. ?Today, one-third of all assignments and new projects are bagged and built by people outside the industry. Companies are on the lookout for fresh perspective and innovative solutions,? says Puri. Increased financial security (rise in salaries across sectors) is also prompting mid-tier executives to venture into unchartered territories. ?The risk-taking ability among this lot has definitely increased,? opines Puri. ?In some cases, these executives don?t mind a pay cut if they get an opportunity to do what they always wanted to do,? says Rangnekar.
Adds Srinivasan, ?In certain sectors like finance and banking, people are exposed to challenging assignments from the start and learning is steep. After seven years or so, they become experts and are itching to do something different.?