What the executives who land well do differently
Some leaders face retirement with curiosity and confidence. The research and the people I interviewed point to a few things they have in common.
By Sue Emanuel · 5 min read
In my career I watched many accomplished executives approach retirement with apprehension, and some refuse to consider it at all. But I also saw leaders who seemed genuinely at ease with the transition. When I studied the research and interviewed current and former senior executives, I wanted to understand what set those people apart.
They have more than one identity
Researchers who study executive retirement find that the more single-minded the career, the harder the landing. Leaders who built multi-faceted lives, as a parent, an athlete, a volunteer, an activist or a board member, carry those identities with them and lose far less of themselves when the title goes away.
“If you diversify identity, have other stuff to care about, and feel love from family and God, your transition will be smoother.”
They carry their lives forward
The principle of continuity holds that we tend to keep the same activities, relationships and habits as we age. Executives who had already built a lifestyle they could carry into retirement moved more smoothly from a work structure to a new one. Those who had set everything aside for work had to build from nothing, and that almost always takes longer than expected.
They invested early in the basics
Long-running research on adult development describes a group of people who stay in good physical and mental health with high life satisfaction. They made the same handful of investments over decades: not smoking, a healthy body weight, moderate drinking, regular exercise, continued education, emotional resilience and, above all, close relationships.
They started before they had to
The advice from the executives who had already made the move was remarkably consistent. Start earlier than you think. Build your interests and relationships while you are still working. And give yourself time.
“Start making a plan earlier. The more prepared you are, the less you will get knocked off your socks if something happens.”
“You need to wait six months to completely decompress before making any major decisions or moves.”
They did not do it alone
Every executive I interviewed said that partnering with a coach could play, or did play, an important role. One told me his coach had been massively helpful. Another said a coach had him think of things he had not, validated his instincts and gave him confidence.
That is the work I do now: helping accomplished people see their options clearly, decide what matters most, and follow through on it, so that the next chapter is one they chose.