"Many baby boomers—especially those at the top of their game—struggle with the decision to step down. And when they leave, the transition is often ‘painful and messy ...'" - Betsy Morris, The Wall Street Journal, January 24, 2021.
The classic template for retirement is that established by Johnny Carson. He left at the top of his game. His final show celebrated what he had put in play. And that was that.
Later David Letterman modified that model. Essentially he put aside his personal brand as The Comic. But he still remains in the game. For instance, he did a bit on the 2020 Emmys and hosts on Netflix "My Next Guest Needs No Introduction."
However, most brandname aging professionals, such as lawyers, find retiring unthinkable. Even "stepping back" horrifies them.
There is lots to be said - and they know it - to exit or "step back" when the reputation is still intact. But, that entails so much loss. It entails everything from money to being in demand (the email box is full, plenty of texts ping, the phone clamors). The reality is that once the job per se is over so often also is the personal branding.
In capitalism, you are your official title. Retirement can mean becoming invisible. Thought leader Jeffrey A. Sonnenfeld detailed that tragedy in the book "The Hero's Farewell." It's painful to recall how one-time business giants Lee Iacocca and Jack Welch struggled to hang on after they retired from their chief executive officer positions.
Those who opt to embrace some version of getting off the career track frequently make a mess of it. They often attempt to hang in, becoming a kind of public nuisance. One former law firm partner I coached came to me with the awareness that he was making a pest of himself spouting off plans to create a class-action law firm. The pain of that humiliation set him off abusing alcohol. His first step back to finding post-career work with a purpose was climbing out of his comfort zone. Here is my book, a free read, on that process.
On the other hand, if lawyers dig in their heels and conjure up strategies and tactics to remain just where they are on their career paths they also risk humiliation. They may experience cognitive decline and it shows. Ambitious younger lawyers could be launching stealth attacks, including on the reputational front. There are smirks in the background. The good assignments might not be coming to them. The power brokers could be forcing them out. Initially it begins with a pay cut.
There are no absolute answers about when to let the big job go. Those who are equally in-tune with how the marketplace perceives them and where they are in their own overall abilities can do an audit. What can they continue to contribute to their organization and simultaneously prevent what could trigger downward trajectories? Of course, that assessment is an encounter with raw reality.
Capitalism is a harsh task-master, usually unforgiving. In addition, there are the usual monsters of the mind which undermine rational thinking. That inner chatter can and usually does have professionals in vulnerable situations shoot themselves in the foot.
What makes the coming-to-jesus moment of clarity less traumatic is to get serious about creating a post-career plan. Yes, the big career ends. But work doesn't. That plan has a better shot at playing out well if there is no visible decline in performance or reputation before stepping back.
The next kind of work can produce a fresh type of success. Lawyers who let go of what they had could discover the unleashing of talents which makes them authentic late bloomers. There really is such a phenomenon. University of Chicago researcher David W. Galeson documented how talent might find its way of manifesting itself when youth is over. His seminal book is "Old Masters and Young Geniuses."
Also, the Future of Work is an unknown. Lawyers who step back may be surprised what they step into. The world they left behind back there may vanish.
The Future is already underway. Ghostwriting/Marketing Communications and coaching on those issues. Sliding scale fees. Complimentary consultation (janegenova374@gmail.com)