No Promotion? Plan and Execute your Exit!

Pardon me for being blunt and disruptive. It might be one of those things I do best.

I have had a number of conversations with people in the past several months about what to do after getting passed over for a promotion. I have also read a large number of bland articles on LinkedIn from Monster, Forbes, and so forth. Most of these articles provide the same depressing appeasements to their already frustrated readers. The list goes something like this…(yawn)…

• Be gracious
• Talk to your boss
• Document your success
• Network with decision makers
• Find a mentor
• Become a mentor
• Work smarter
• Set boundaries
• Become indispensable
• Disengage and spend time with family

Do you notice how half this typical list completely contradicts the other? No wonder people don’t know what to do if they missed a promotion!

There is absolutely some good advice listed above. But none of this advice will get you to grow. None of it helps you reach your potential. You wanted that promotion because you were ready for the next step. You wanted growth. You needed change!

I want to cast aside all of those politically correct ideas and stop placating you right now! If you are passed over for your promotion, and you actually are a good, productive, innovative asset to the organization…then you need to Plan and Execute an Exit Strategy.

To be clear, this is NOT rage quitting and burning the building down. I know that is emotionally satisfying. But that is not where I am going. You do not want to leave out of spite and anger.

Instead, you want to leave in victory, on your own terms.

It makes sense, right? But why leave? Isn’t there anything to salvage? Rarely.

If you have golden handcuffs in a “Hire to Retire” culture and an abundance of future opportunity, it make perfect sense to stay.

Here are the 3 reasons you need to leave.

Rejection Can Kill Potential

Most likely, your rejection is going to box you in at your current position. Either you are going to do it to yourself, or management will continue to see you as someone who isn’t going to progress. You can only take so much rejection without it affecting your self-image, or the opinions of others.

Chances are you are reading this because you feel a tad hopeless or down on yourself already. Perhaps you are already questioning, “Do I really have any value? Is this all I am worth?”

The truth is, you have more potential than either of us can dream up.

You Need to Grow Your Salary

Let’s also look at career practicality in the 21 century.

A competitor will always pay more for your experience than your current company. Sure, your company might get you to stay with a 2-3%, or even a 5% raise. But let’s be honest. This barely keeps up with cost of living increases. We need more than that; and I believe you are worth more than that!

External hires can earn anywhere from 10-20% more than an internal employee for the same job. Certainly, there is an inherent risk to layoffs, (the same article claimed 60% more likely for recent external hires to be laid off). But as long as you plan to remain being the same top performing self, I believe you are safe.

The reality is, we are in an economy of self-funded retirement. You need to grow your base at every opportunity you can. Beyond that, so many companies want to see a track record of recent progressive increases in responsibility for top tier positions. The longer you stay at a current position outside of 2-3 years, the more likely it is you will limit your lifetime earning potential.

You Need Personal and Professional Growth

Last but not least, you wanted that new position because you were ready for something new. You most likely have maxed out your value in your current role. (If not, you need to do so…not for a promotion, but for yourself!)

A new challenge, or series of challenges, is what is going to force you to grow. If that is a new project, or leading a team, or directing a division; it is time for a new challenge.

We are growth seeking organisms. If we aren’t growing, we are dying in the most literal sense of the word.

7 Bold Steps to an Exit Strategy

I have far too many opinions on how help you make a change. Instead of continuing, I will take a break here and in the coming weeks, I will be adding to this article series and discussing each of my 7 Bold Steps to an Exit Strategy, one at a time. But here they are…

1.      Recharge Your Mindset

2.      Collect Useful Data

3.      Set Your Goals BIG

4.      Network Incessantly

5.      Apply and Interview Effectively

6.      Exit Triumphantly

7.      Onboard with a Plan for Success

Thanks for reading! Be sure to follow me to catch the next article in the series! And if you are ready for that exit strategy, don’t hesitate to reach out so we can start working together!