CareerCoach
You’ve been overlooked for a promotion. What now?
Elliot Jackson, director of recruitment firm Robert Walters London, offers his advice on what finance professionals can do when they have been overlooked for a promotion
Missing out on promotion can be frustrating, especially if you felt you were a shoo-in. However, being overlooked can be a learning opportunity – one that finance professionals, especially those in the early stages of their career, shouldn’t miss out on using to their advantage.
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Acknowledge and process emotions
While they can be disheartening, setbacks are a necessary part of the professional process and they can actually help you grow significantly – both personally and professionally. But first, it’s important to process your disappointment as well as acknowledge any other emotions it brings up.
Reframe the negatives
Processing disappointment is a necessary part of coming to terms with missing out on a position. But it’s also vital not to sit in your negative feelings for too long. Instead, focus on the growth that can be gained from the situation, what can be learned and how you can improve going forward.
Ask for detailed feedback
There are probably a host of reasons as to why you didn’t get a promotion that have nothing to do with your capabilities, from workplace politics to unwritten rules and expectations from leadership.
However, a lot can be gained from asking for honest feedback and constructive criticism. It can provide a valuable insight into areas of improvement, opportunities to upskill and more. Before you do, it is important to embrace an open-minded approach and employ active listening to make sure you take everything on board.
Tip: Proactively seek direct feedback – some managers may give vague feedback to avoid upsetting a good employee. So you must ask the right questions to avoid generalised feedback. For example, rather than “What areas can I improve on?” try “What skills and capabilities must I demonstrate in order to be a strong candidate for a promotion in the future?”
Take stock of your progress and goals
This may mean changing your approach to progression, setting new goals and concerting your efforts in different areas. Using the feedback, you can create a new action plan. You may want to rethink your options in terms of moves you can make, laterally or in a new direction, or you may feel invigorated to continue on this path but with a renewed focus.
Enhance your skills
Look at your skills: what you do well, what you would like to improve or new areas you would like to break into. Skills-sharing can be cyclical – you can offer your expertise in the areas you’re confident in and ask other members of your team for guidance in the ones where you feel you need to improve.
Who can you learn from?
Is there someone in your team who recently received a promotion, or may have even gained the promotion you lost out on?
If you feel comfortable doing so, ask them about it and about any tips that may have worked for them; what techniques they found to be successful, such as having a portfolio of their key wins to highlight during the interview; and any additional things they had worked on, such as mentoring, taking part in skills swaps, recalling certain projects on which they volunteered their time and that directly aligned to their overall career goals.
Take the initiative
Losing out on a promotion, though disappointing, presents a perfect opportunity to ramp up your profile at work. This can mean volunteering for challenging projects to show your ability to handle more. Perhaps you have a new idea which you’ve been too shy to propose. Here is your chance to mention it in your next team meeting. You could even explore lateral moves within your finance team and more widely in the organisation.
Demonstrating initiative and a willingness to not only learn but actively collaborate will showcase your technical skills as well as your enthusiasm to progress, not only positioning you as a valuable asset to your team but a clear option for the next promotion cycle.
Be consistent
Learning and improving aren’t things you stick at for a couple of weeks or even months to then drop – you will be working at them throughout your career. So think of achieving longevity in the way you upskill, collaborate with your colleagues and in the new projects you take on.
Be mindful of what you can take on. Don’t overload yourself but choose what is manageable, what you can fulfil to the best of your ability and keep at it.
Be patient and persistent
Remember to be patient with yourself and the process. Being overlooked for a promotion can be very disheartening and you may wind up feeling unmotivated to try harder.
Stay focused, persistent and committed to continuous improvement while remaining aware of your own merit. It’s important to understand that success is not always defined by a job title but by the overall value you bring to the table.
You’ve been overlooked for a promotion. What now?
Elliot Jackson, director of recruitment firm Robert Walters London, offers his advice on what finance professionals can do when they have been overlooked for a promotion.
