Transitioning into a consultancy at mature age

My workplace recently underwent an organisational restructuring, and my role came up for redundancy. However, awkwardly, I was not needed 100% of the time, but more like 25% of the time, so the rest of the time would be covered by junior staff. I was made an offer with less money than anticipated, but the work I was given in the new role was not engaging. I chose to take an early retirement package. I am 52 years old and have over 23 years of experience in marketing for the finance sector. I have two months until I leave, so I need to get my act together. Where do I begin? 

Hello Kristen, thank you for sharing and tabling an issue that I think seasoned professionals are facing as the world of work changes. Your choice to take early retirement is based on how you value yourself; with your depth of experience and expertise, the focus is unlikely to be on money but on what you bring to the table. The recognition that you are not ready to take” any job” also suggests that you focus on doing what will stretch and challenge you mentally. 

So the first thing is not to panic but to be mindful of some impactful changes, one being obvious: monthly income will stop within two months. You may want to look at your budget. I have assumed that taking early retirement also means having savings or alternative investments, so not being employed 100% of the time is not an issue.

The second question you may want to ask yourself is whether you want to return and work. I have also assumed that you are Ugandan-based, so you can still work for another three years until retirement. If you still want to work, the questions you need to answer are: what do I want to do? Where do I want to do it? Do I want to work flex hours at the office or remotely? What do I want to get paid? These essential questions will help you decide what to do next. If you choose to jump back into the market, be mindful that the working population is younger and willing to get paid much less than you are used to. As you apply the process, maybe use AI to identify potential candidates. Your age is perhaps an issue. No one says, but it is a reality. Also, going down this route, you may want to engage a professional to help you re-write your CV and help you jump the AI hoops in submitting applications, etc.

The alternative to the above is to step out and become an independent consultant. An easy way to transition is to ask your current, soon-to-be employer if they can retain you as a consultant to help train and mentor new teams. You can negotiate an affordable retainer rate, etc. If you have not already, you can also start going to professional associations events and positioning and marketing yourself and skills. 

This is hard work, “working the room” may not be your thing, but getting into the room is a start. You may even volunteer your services in professional groups to be more visible. In addition, consider providing your services to advertising/marketing agencies. Again, this will get you into forums where marketing discussions are happening to better inform you about the sector and how to position yourself. The last consideration is sharing your experience in learning institutions and positioning yourself as a technical expert. The transition is not easy, but it can happen with careful planning and managing your expectations. Good luck.

Caroline Mboijana,
Managing Director, The Leadership Team (U)
[email protected]