In Fits and Starts: Managing a Career over a Lifetime

13 Oct In Fits and Starts: Managing a Career over a Lifetime

It happens all the time. A young woman shows up with a baby bump and is immediately put on the “mommy track.” A new female manager is hired, but she isn’t invited to a dinner meeting with a client because she “probably” wants to be home with her family.

Women are the main breadwinner in 30% of Canadian families,[1] and most financially successful women seek to emulate a standard career path.

There’s just one problem. That standard career path – the male career path – tends to be linear. Women’s careers, on the other hand, meander around, resting at times, moving forward quickly at other times.

As a result, men are starting to slow down in their mid-to late 50s, after 30+ years in the workforce. Women are just coming into their own at that age, often taking leadership positions in their early 60s.

Some of these transitions are due to specific events, such as finishing a graduate program or having a baby, while other transitions are due to opportunities, such as shifting industries or starting your own business.

In addition, longer life expectancy means longer working lives and more opportunities to change paths. Work may need to change as women age. With all these transition points, it can be a challenge to manage a career over an entire lifetime.

But it’s not impossible. Successful women work to manage the challenge and take advantage of these considerations:

• Decide on your priorities. Think about what matters most. This may change over time: At one stage, your career may take top honours, while later on, you may need the flexibility of a less stressful role. Whatever takes the top spot, everything else in your life must support it. For example, if the next promotion is your main priority, you may need to rely more on your partner, your children or paid staff to take care of things at home.
• Explore change. Talk to others. Listen to what they have done and work with them to brainstorm ideas for your own situation. In some cases, a small pivot can improve your situation dramatically and make it more in line with your current thinking. Consider your transferable skills and take them with you on a new adventure. For example, if a flexible schedule is the priority, working part-time as a freelancer may be the best option, even if it means a temporary pay cut.
• Stay in the neighbourhood. If you do choose to leave the workforce for a time, make sure to keep your skills updated. Stay in touch with former coworkers and colleagues. On the flip side, if you are working and you have the capacity, take the stretch assignments and go for the promotion. Any step forward now will help you later on, even if you do take a break. And having more influence now will help you negotiate when you need accommodations later on.
• Consider the company culture. When considering a new position, take a deep dive into the company to learn about their culture. Talk to people. Look for diversity, equity and inclusion (DEI) principles and evidence they matter on the ground, such as flexible schedules and support for parental leave.
• Establish a partnership at home. If you have a partner, work to create a more egalitarian framework for your life together. No one can work a demanding job and then take care of everything at home as well. Women who have support from their partners (or a paid support team) are free to spend more time dedicating themselves to their success at work.

In today’s workplace, there is more flexibility than ever. Women don’t need to model their careers on a standard model. Through staying focused on what matters most, you can continue to grow and learn over the course of your career path, no matter where it takes you.

To learn more about business planning, contact us.

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[1] https://www.theglobeandmail.com/life/parenting/mothers-day/challenging-the-myth-on-women-work-and-children/article34117441/

Joel Rose

With over 35 years of experience, Joel Rose helps families – and their businesses – to prepare for the future. He offers guidance and support to help his clients create estate plans and succession plans that meet the needs of the whole family. Through his extensive professional and personal experience, Joel is known for his compassion and his ability to find a creative solution to meet each family’s needs.