Toronto, Ontario (PRWEB) April 20, 2011
Richard Pett Consulting Inc, an Ontario based executive coaching and consulting firm, has identified an increasing number of senior executives with tenure of 15 years or more expressing a desire to leave the corporate world and move on to another phase in their lives. The problem is that they are reluctant to resign, as they believe that they will be giving up the possibility of a substantial severance package. There is also a reluctance by their employers to pay the cost of the severance, which in many cases can be a substantial sum. This has become more of an issue to companies since the recent economic downturn.
"Discussions about career and succession planning happen routinely, but exit conversations have become a taboo subject, with the result that nobody wins. The employee wants to move on, the company would like to see some new dynamic leadership in place, and both parties are waiting to see who will blink first", said Richard Pett, President of RPC . "When a senior leader becomes disengaged the potential impact on the organization is significant".
The answer may be to introduce a third party to broker the conversation and act as a facilitator with the goal of achieving a solution that works for everyone. Compromise is needed, and may include some kind of modified work contract. These are difficult and sensitive conversations to have, but are crucial for companies who want to stay competitive and grow their business in the fast paced environment that we all work in today.
The Globe and Mail picked up this topic and published an article on 18th April 2011. You can read the article via this link :