Latest / Executive Careers with Fexingo: VP, C-Suite, and Senior Leadership Career Strategy / How Senior Leaders Use Executive Coaches to Accelerate Careers
Transcript
- Lucas: There's a moment in every senior leader's career where they realize they're the smartest person in the room on most topics — but that doesn't mean they're leading effectively. And that disconnect, if you don't address it, can stall a career faster than any bad quarterly earnings call. Luna: That's a really uncomfortable place to be. And I think a lot of VPs and C-suite executives feel it, but they don't know what to do about it. Lucas: Right. And one of the most underused tools for that exact problem is an executive coach. Not a mentor, not a consultant — a dedicated coach. And there's actually hard data now on how much it moves the needle. Luna: I've seen the stat you're thinking of — Stanford Graduate School of Business published a study a couple years ago. Leaders who worked with a coach saw a 73% improvement in leadership effectiveness ratings from their peers and direct reports. Lucas: That's the one. And listen, any improvement number that high in a soft-skill area like leadership is worth paying attention to. But the nuance is: not all coaches are created equal, and the senior level has very specific requirements. Luna: So let's start with the stigma. Because I think a lot of executives still see hiring a coach as admitting they're failing. Lucas: Exactly. And that's slowly changing, but it's still real. I talked to a Fortune 500 CFO — I can't name her, but she's real — who told me she hid her coaching from her board for six months. She was terrified they'd see it as a weakness. But she was using the coach to prepare for a potential CEO succession. Luna: And did it work? Lucas: She didn't get the CEO role — yet. But within 18 months, she landed a board seat at another company. And she credits the coach entirely for helping her reframe her leadership narrative from 'numbers person' to 'strategic operator with financial depth.' That's a direct example of coaching ROI. Luna: So the real value isn't fixing a weakness — it's accelerating a strength. Reframing how you're perceived. Lucas: Exactly. And that's why the coach has to understand the C-suite context. A coach who mostly works with mid-level managers might tell you to 'be more vulnerable' — which is fine, but at the senior level, vulnerability has to be calibrated with authority. You can't just open the floodgates in a board meeting. Luna: Right. So how does a senior leader vet a coach? What are the specific criteria? Lucas: First: look for someone who has coached at your level or above. Ask for client references from people who've held VP or C-suite roles. Second: look for someone who understands your industry context. Not that they need to be an expert in your field, but they should understand the pressures of a public company versus private equity versus a nonprofit. Luna: And third: what about methodology? There's a lot of certification programs out there. Lucas: That's actually a minefield. There's no single regulatory body for coaching. But the gold standard is usually the International Coach Federation — ICF — credential. That at least guarantees they've had supervised hours and follow a code of ethics. But even then, a credential is no substitute for proven results at your level. Luna: And how long does a typical engagement last? I feel like that's something people wonder. Lucas: Most senior-level coaching engagements run six to twelve months, with sessions every two to three weeks. The best ones are goal-specific: preparing for a board interview, navigating a reorg, building a stronger leadership team. It's not open-ended therapy. Luna: If today was actually useful to you, the way these stay ad-free is listener support — buy me a coffee dot com slash fexingo. Even a small contribution keeps us independent and focused on practical career strategy. Lucas: Yeah, we don't run ads, so listener support is what keeps the lights on. And we're grateful for anyone who finds value here and chips in. Luna: So back to the CFO example — she reframed her narrative. How did the coach help her do that? What was the actual process? Lucas: The coach started with a 360-degree feedback process — anonymous input from her peers, her direct reports, and her board. That gave her a clear picture of how she was actually perceived versus how she thought she was perceived. Then they worked on a 'leadership narrative' — a concise story about who she is as a leader and where she's going. Luna: And that narrative is what she used in board interviews and internal conversations? Lucas: Exactly. But it wasn't just a script. The coach had her practice it in different settings, with different audiences. They role-played board Q&A sessions. They worked on her body language — she tended to lean back when she was thinking, which made her look disengaged. Small things, but they matter. Luna: That level of granularity is hard to get from a mentor. A mentor gives advice based on their own experience. A coach forces you to examine your own behavior. Lucas: That's the key distinction. A mentor says 'here's what I did.' A coach says 'let's figure out what works for you.' And at the senior level, the context is so specific that a one-size-fits-all approach from a mentor can be misleading. Luna: What about the cost? Executive coaching isn't cheap, and some companies will pay for it, but not all. Lucas: It's an investment. A good senior-level coach runs anywhere from $500 to $1,500 an hour, and a full engagement can be $20,000 to $60,000. Some companies cover it as part of leadership development. If your company doesn't, you can sometimes negotiate it into your compensation package as a professional development benefit. Luna: That's a smart negotiation tactic — asking for coaching as part of your comp. It signals you're serious about growth. Lucas: Exactly. And if you self-fund, you can write it off as a career-related expense depending on your tax situation. But more importantly, the ROI can be massive. A board seat alone, even at a small company, can pay back the coaching investment many times over. Luna: Are there any red flags when choosing a coach? Things to absolutely avoid? Lucas: Big one: a coach who promises specific outcomes — 'I'll get you a board seat in six months' or 'I'll double your compensation.' That's not how coaching works. A coach facilitates your development, they don't deliver your next job. Also avoid someone who wants to be your friend or confidant rather than a challenging partner. Luna: Yeah, you want someone who will push back, not just agree with you. Lucas: Right. And a related red flag: a coach who only gives you praise. If every session leaves you feeling great but you haven't identified any blind spots, you're not getting your money's worth. The best coaching sessions feel a little uncomfortable because you're being asked to look at things you'd rather avoid. Luna: So the coach should be a mirror, not a cheerleader. Lucas: Exactly. And the best ones also know when to refer you to other resources. Maybe you need a speech coach for a big presentation, or a therapist for deeper personal issues. A good executive coach recognizes the boundary and doesn't try to be everything. Luna: Let's talk about measuring ROI. How do you know if the coaching is working? Lucas: You set measurable goals upfront. For example: 'Within six months, I want my direct report engagement scores to increase by 10 points.' Or 'I want to receive at least one board interview invitation.' Then you track those metrics. But there are also softer signs: you feel more confident in high-stakes meetings, you're getting invited to more strategic conversations, your network is expanding. Luna: And if you're paying out of pocket, you should have a checkpoint at three months to assess whether it's worth continuing. Lucas: Absolutely. Most reputable coaches offer a trial period or will agree to a three-month engagement with a review. If you don't see any movement on your goals, it's okay to part ways. The relationship has to work for both sides. Luna: One last question: for someone listening who's at the VP or director level and thinking about a coach, what's the first step? Lucas: First, clarify your goal. Coaching for a specific transition — like moving from VP to EVP or from operator to board member — is different from coaching to improve general leadership presence. Once you know your goal, ask your network for referrals. Talk to two or three coaches before committing. And ask each one: 'How have you helped someone in a similar situation before?' Listen for concrete examples, not general philosophy. Luna: That's practical. And I'd add: don't wait until you're in crisis. The best time to hire a coach is when things are going well, because you have the bandwidth to actually do the work. Lucas: That's a great point. Coaching is proactive, not reactive. And the leaders who do it well are the ones who treat their own development as seriously as they treat their company's strategy.