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There’s a unique feeling that comes with feeling stable and secure in your job, knowing you’ll always have work. But what if that stability comes at the cost of your growth? Being in a job with limited opportunities or no chance for career advancement can leave you feeling stagnant and hopeless – and in today’s market, any loss of growth opportunity can mean spending your career in a dead-end job.
Ask any executive, and you’ll find that career progression is a top priority when evaluating new job opportunities. As an executive-level headhunter with extensive experience placing top talents in major Fortune 500 companies, I’ve witnessed firsthand the importance of recognizing and avoiding dead-end career paths. In this article, I’ll shed light on key indicators that can help you determine if it’s time to look for new opportunities.
Related: How Entrepreneurs Can Identify Opportunities in Disguise — Even When Times Are Tough
Sign 1: You’re seeing limited upward mobility
While not everyone aspires to the boardroom or the corner office, people still like to know that there are forward-looking opportunities. Does your company emphasize career paths? Are there meaningful long-term goals and rewards for achieving them?
A key indicator of a dead-end job is when upward mobility becomes near impossible. For example, are open executive positions frequently being filled from outside instead of being promoted from within? Are leadership roles staying vacant for long periods without being backfilled?
A recent report found that external hires now make up over 60% of C-suite appointments at large companies. If your employer consistently brings in external talent rather than promoting internal candidates for advancement, it may signal limited executive career paths — especially when combined with the feeling that your current role has reached its full potential.
Sign 2: Infrequent performance reviews
Falling through the cracks on performance evaluations can also reveal a dead-end job. So, when was the last time you had a substantive one-on-one with a superior directly involved in your growth?
Consistent, high-quality feedback is essential for executives to develop and climb the ranks. However, your employer may pay little attention to nurturing high-potential employees if upper management sees minimal value in succession planning.
According to HR experts, just over half of companies offer yearly or semi-annual executive performance reviews. If you rarely receive thoughtful evaluations of your work, it likely indicates a lack of interest in your growth – and, ultimately, in your career.
Sign 3: Few upskilling opportunities
Access to training and skills development is a must for directors and VPs aiming for the C-suite. But dead-end jobs tend to lack resources or encouragement for executives looking to broaden their knowledge.
Upskilling — developing an employee’s skills and knowledge to maintain their current job or prepare for a new role – is critical for setting yourself up for long-term success. For executives, this should include executive leadership training, organizational development programming and coaching.
If your company isn’t providing these opportunities — or if you often have to travel outside of your team for the resources — it might be time to look elsewhere.
Related: Invest in Your Team or Fall Behind – 3 Ways to Upskill Your Team with Continuous Training
Sign 4: Stagnant compensation
Money isn’t everything, but pay does serve as an effective benchmark for career progression. Your current employer should be willing to recognize hard work and dedication by increasing your salary or offering other compensation, such as bonuses.
But your executive job may have also flatlined if your compensation has plateaued without meaningful raises or bonuses over many years.
If you’re not seeing the kind of financial compensation and benefits you’d expect for your level of experience and know-how, it may mean there is nowhere else to go within your current company. In this case, it could be time to move on to get closer to reaching your career goals.
Sign 5: An executive board that won’t embrace change
For many executives, landing a spot on the board of directors signals reaching the pinnacle of their career. However, a dysfunctional board can also limit a company’s ability to promote executives.
The board being the “final stop” for all decisions often leads to stagnation and lack of innovation. And when the top leadership fails to lead, you may want to think again about gaining a seat at the table.
If your board won’t take risks or make changes, it can stifle potential upward mobility. To stay competitive, companies must ensure their executive team can grow and innovate — and boards have a critical role to play in that process.
Sign 6: Workplace favoritism
One of the trickiest obstacles for executives is an office rife with favoritism. When the C-suite and board continuously appoint close colleagues, friends or family members, the door shuts on fair consideration of rising VPs and directors.
It may seem that the older you are, the more experienced you become — and thus, the more value you add to a business. However, ageism is often perceived as one of the primary blockers to upward mobility in leadership.
Do you often feel your voice is ignored or that your recommendations are too quickly dismissed? While this may sometimes be a sign of miscommunication, it may also indicate how entrenched favoritism is in the company — a clear and present danger.
Plot your course on your true value
While not every frustration indicates a dead-end job, paying attention to these clues can help determine if your ambitions and your employer’s priorities align. So, what should you do once you recognize this pattern? The key is personal awareness that manifests into action.
Regularly communicating with your team and taking advantage of growth opportunities demonstrates your commitment and drive. But if leadership makes promises of advancement that never materialize, don’t wait around indefinitely. With strategic planning and an eye toward companies investing in high-potential employees, you can break out of that dead end and accelerate your executive career aspirations.