This daring career move just might get you promoted faster

equity investment? Look for situations where your familiarity with these types of experiences can help in another industry, says Lisa Thompson, managing director of professional services at Dallas-based Pearson Partners International.

Not all industries will be open to an outsider, so focus your energy on those that seem less narrowly specialized. “It would be hard to make a case for making drastic changes, such as switching from manufacturing to health care,” Thompson says. “It is always easier to make a case for a change in industries when the industries are somewhat related or have similar markets.”

According to the Strategy& study, industries most amenable to hiring outsider CEOs include telecommunications (38 percent of incoming CEOs from 2012–2015 were outsiders), utilities (32 percent), health care (29 percent), energy (28 percent), and consumer staples and financial services (both 26 percent). Conversely, the lowest share of outsider CEO hires was in IT (15 percent), materials (19 percent), retail and consumer (19 percent) and industrials (21 percent).

As you come across companies that interest you, check out online resumes of their executives to see if they have skills and experience comparable to yours, Thompson says. Connect the dots for prospective employers

It’s always going to be risky for a business to bring in a candidate from outside the industry, which means you have to make a strong case for how your experience will make a difference for the company, Thompson says. Research what challenges and opportunities of the new industry are similar to those from your old industry. Clearly connect your experiences to the prospective employer’s needs.

For example, if you have experience with mergers and acquisitions, turnaround situations or working in public companies, you might be valuable to a company in another industry that’s dealing with a similar situation, so show how that sets you apart from the typical candidates. “Switching industries can help add a broader perspective to a candidate that is not often available when sticking to the same industry throughout a career,” Thompson says. Play up your outsider-ness

Firms often hire executives from the outside when the company is lowperforming or in crisis. They may be looking to shake things up, so don’t be afraid to emphasize that you’d be a break from the past. You’re someone who offers not only a relevant skill set but also a new way of thinking and could help a company develop innovative solutions to help them — and your career — forge ahead.

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