Reflections from a recent journey in multifamily housing leadership.
Deciding to make a career move is rarely easy, as professionals grapple with mixed emotions about leaving their current employer and colleagues. For senior multifamily housing leaders, the decision is not made lightly – it requires careful consideration and reflection.
These individuals have already achieved great success in their careers, so the prospect of an elevated role is exciting and validation of their accomplishments to date. From those mulling a first executive position to established C-suite leaders contemplating a transition to a new organization, several key factors come into play before deciding on a path forward.
A critical question those weighing a jump to a C-suite role should ask themselves is: “Am I a soldier or a general?” The former executes orders, while the latter inspires teams, establishes strategic direction and navigates complex obstacles. In a mid-level management role, influence is typically confined to specific departments or projects. The C-suite demands leadership, not just execution. It offers an opportunity to truly make something your own and drive a company’s overall vision and strategy. This is a chance to implement innovative solutions, create a strong corporate culture and leave an enduring mark on an organization.
Another key consideration is the team left behind after the move. It is natural to feel guilty about moving on from longtime colleagues and wondering if a successor is equipped to take over the day-to-day responsibilities. This is where the importance of trust comes into focus. Be transparent with successors and empower them to continue moving the company forward. Trust that the systems and processes already in place will enable the organization to thrive. This not only makes the transition to a new role easier, it reinforces the legacy at the former place of employment.
When senior leaders are in the right role, it comes easy to them. That does not mean the work itself is easy; it means an individual’s skillset and passions naturally align with the job’s responsibilities. Challenges can be addressed with a strong sense of purpose and clarity.
Once the decision to move has been made, surrounding yourself with the right inner circle is paramount. Avoid relying on people that will always say, “Yes.” True leadership is bolstered by inviting diverse perspectives and constructive debates. Seek out individuals who challenge assumptions, ask the right questions about strategic decisions and provide honest feedback. That will equate to sound decision-making.
It is important to remember that for established executives, opportunities will continue to surface. It is understandable to feel flattered when a potential new opportunity is presented. Moving companies doesn’t always move a career forward.
Keeping these pivotal considerations in mind will position an executive to make the career move with confidence and continue the journey of success. This could be a big opportunity to create a lasting impact on the multifamily housing industry.
Marcie Williams, CPM, CAPS, is Chief Strategy Officer at The Bainbridge Companies, a Florida-based multifamily real estate company that has developed and acquired more than 43,000 apartment homes since its inception in 1997.