Michael Mangialardo is a results driven business strategist with over thirty years of outstanding achievement. His experience as a VP, General Manager, President and owner, in the highly competitive areas of marketing, advertising, brand management and broadcasting allows him to bring a broad range of strategic and tactical solutions to help his clients achieve outstanding results.
Michael became a Boardroom Metrics Accomplished Executive in August 2010.
Traditional hiring and HR approaches seem to discount the value of ‘seasoned’ or ‘boomer’ age talent, except at the most senior levels.
Considered expensive both due to employment cost and on the basis of severance concerns, hiring managers frequently look to younger talent that may have more ‘growth’ and ‘long term potential’.
But is it time for a rethink?
By discounting boomer talent (46 years+), companies run the risk of missing out on some of the best trained, most experienced and capable managers they can imagine.
Unlike recently minted managers, boomer managers are:
Experienced – have learned the lessons of good and bad times
Confident – won’t be reluctant to make an early contribution
Competitive – are used to winning
Hit the Ground Running – no ‘training’ required
Self Managed – know how to make and work an action plan
Results-oriented – are more willing to be compensated on results
Affordable – work is no longer just about the money
Non-political – not looking to move up the ladder
Short/Medium Term – contract, project or interim time frames
Been There – Done That – calm in down times — cautious in boom times
Can Handle the Stress – have experienced the “cycle of business” often
Can Coach and Mentor – want to share their knowledge to grow their legacy.
Crossing into the career chasm can happen fast. We see senior, experienced leaders, some as young as their late 40’s, who find themselves feeling ‘out to pasture’. Yet, when we meet and work with these people, we are frequently blown away by their knowledge, expertise, passion and energy level.
Often, the only thing they are missing is the know-how to effectively market themselves. Many have never had to worry about it before in their careers. And, while their outplacement agencies provide reasonable advice, many of these executives find it difficult to execute without the infrastructure around them that they’ve been used to in their careers.
So, with lots of this talent available, what opportunities are there for companies to rethink how attractive this talent might be?
First, there’s the personal motivation of these individuals and how it impacts costs.
Most senior, experienced managers we work with are no longer looking to maintain the salary track and expectations they had as rising stars. Most understand that their brands are viewed as expensive at this point in their careers. A large number of these executives are financially secure anyways, so salary is NOT their primary driver.
What is a key driver? It’s engagement.
Rather than get the big bucks, a key motivator at this stage in many careers is to stay involved, share knowledge, be part of something and have an outlet for years of learning and experience.
In many cases, these ‘post-corporate’ executives have other interests and are not looking for full time employment. Instead, they are attracted to interim management, contract roles and project work. They are far more flexible than career trackers when engaging in the employment opportunity.
Tied to this is another key opportunity – rethinking the notion of having to hire someone who will grow with organization and remain with it over many years.
That notion barely exists any more – regardless of age and experience. In more experienced executives, companies have the opportunity to hire for reality – highest level skills and short time frames.
Ultimately, the best case for rethinking traditional hiring approaches to seasoned talent is the expertise available. With the baby boomer bulge now hitting the senior age and experience levels of every corporation, the amount of talent hitting the street is unprecedented. Entire organizations could be assembled with this talent – and they would be able to operate at performance levels other organizations could only dream of.
Rethinking the approach to hiring boomer talent might be something forward thinking organizations should consider.