Latest / Executive Careers with Fexingo: VP, C-Suite, and Senior Leadership Career Strategy / How Senior Leaders Use Sponsors Not Mentors
Transcript
- Lucas: There's a phrase I hear a lot in senior leadership circles: 'Find a mentor.' And look, mentors are great. But if you're a VP or a C-suite executive, a mentor might actually be holding you back — not because they're bad, but because what you need is something more powerful. Luna: You're going to say 'sponsor,' aren't you? Lucas: Exactly. A mentor gives advice. A sponsor gives air cover, visibility, and — here's the concrete difference — a sponsor puts their own reputation on the line to get you a seat at the table. Harvard Business Review published a study last year — 2024 — tracking executives over a five-year period. They found that people with sponsors were 23 percent more likely to get a promotion than those with only mentors. Not a small edge. Luna: Twenty-three percent is huge. But I think a lot of senior leaders hear 'sponsor' and think it's something that just happens to you, like being tapped on the shoulder. Can you actually cultivate it? Lucas: You can, but you have to be intentional. Let me give you a concrete example. I spoke with a CFO of a Fortune 500 company — let's call her Sarah — who was a VP of finance at a different firm about six years ago. She had a mentor she met with quarterly, a retired CFO who gave her great advice on technical accounting. That mentor helped her think through problems. But the person who actually got her promoted was a sponsor — the current CEO of her company at the time. Luna: What did the CEO do differently? Lucas: Two things. First, when a board member questioned whether Sarah was ready for the VP role — she was in a director position then — the CEO said, 'I've watched her run three major projects. She's ready. I'll back her.' That's sponsorship. He didn't say 'maybe she should take a course.' He put his credibility on the line. Second, he made sure she was in the room when key strategic decisions were made, even when her formal role didn't require it. That visibility changed how the rest of the executive team saw her. Luna: So a sponsor gives you both advocacy and exposure. But how do you actually get someone to do that for you? You can't exactly walk up to a CEO and say, 'Will you sponsor me?' Lucas: You could, but it probably wouldn't work. The research — and my own conversations — suggests a three-step framework. Step one: identify the right person. It's not necessarily your direct boss. Look for someone who has influence, who sits in rooms you want to be in, and who has a track record of developing talent. Step two: make yourself visible to them by delivering results that matter to their priorities. Step three: signal ambition. Luna: Signal ambition — that's the tricky one. A lot of senior leaders, especially women and people from underrepresented backgrounds, are told to be humble, to let their work speak for itself. Signaling ambition can feel aggressive. Lucas: It's a real tension. But the data is pretty clear: sponsors gravitate toward people who explicitly state they want more responsibility. Not in a pushy way, but in a specific way. 'I'd like to lead the integration of our next acquisition' — that's a concrete statement that gives a sponsor something to work with. Compared to 'I'm open to new challenges,' which is vague and doesn't invite anyone to take a chance on you. Luna: I read that same HBR study, and one stat that stuck with me: men were 46 percent more likely than women to have a sponsor actively advocating for them. That's a gap that sponsorship programs in companies try to close, but they often fail because you can't mandate a genuine relationship. Lucas: Right. Formal sponsorship programs have mixed results. The ones that work tend to pair senior leaders with high-potential individuals and give them a specific project-based reason to work together. Not just a monthly coffee. But the most effective sponsorships are organic — they grow out of real work. And that brings me to something I want to be honest about. Luna: Go ahead. Lucas: Quick honest thing — a handful of listeners chip in monthly through Buy Me a Coffee dot com slash fexingo, and that's literally what funds making this many of these episodes. We don't run ads on the Fexingo Business network. It's listener-supported, and a small group already keeps it going. If you've found this series useful — especially if you've used something from a past episode to make a career move — that's the only way we can keep it ad-free. Luna: Yeah, and it's not about pressure. It's just the model. We hear from listeners who say our episodes helped them negotiate a better package or frame a career pivot. That's the stuff that matters. Lucas: Exactly. So back to sponsorship. Let's talk about how you actually earn a sponsor, because there's a subtlety here. The best sponsors aren't just people you impress once. They're people you make look good repeatedly. If you're in a VP role and you lead a project that exceeds targets, and you make sure your sponsor gets visibility for that success up the chain — that's how the relationship deepens. Luna: But what if you're in a role where your direct sponsor — say, your CEO — leaves the company? Does sponsorship transfer? Lucas: Rarely. Sponsorship is personal. When that CEO leaves, you often lose the advocacy. That's why you want to have multiple sponsors, not just one. Not a group of mentors — multiple sponsors at different levels and functions. One study from the Center for Talent Innovation found that executives with multiple sponsors were promoted at a rate almost double that of those with just one. But it's hard to maintain multiple deep sponsorship relationships without spreading yourself thin. Luna: So quality over quantity, but don't put all your eggs in one basket. What about the sponsor's perspective? Why would a senior leader want to sponsor someone? It's a risk. Lucas: It is a risk, but the return is loyalty, a stronger team, and a reputation for developing talent. A sponsor who champions three people who go on to become CEOs themselves is seen as a kingmaker. That's a powerful brand. And in many organizations, the ability to develop future leaders is a criterion for getting to the highest levels. So there's a self-interest component too. Luna: That's a good point. It's not purely altruistic. But let's get tactical. Say I'm a senior director, and I've identified a potential sponsor — an EVP who I've worked with on a cross-functional project. What's the actual conversation I have to move from 'we worked together' to 'she sponsors me'? Lucas: It's not a single conversation. It's a series. First, after a successful project, you send a note that says, 'I really appreciated your leadership on this. I learned a lot. If there's ever a way I can support your priorities, I'd welcome the chance.' That opens a door. Then, when you see an opportunity — a new initiative, a task force — you reach out and say, 'I noticed this is a priority for you. I'd like to lead it. Here's a one-page outline of how I'd approach it.' That shows you're not just asking for a favor; you're offering to solve a problem. Luna: And if they say yes, you deliver. Lucas: You over-deliver. And then you thank them publicly for the opportunity. Not in a sycophantic way, but in a way that connects your success to their judgment. That builds their confidence in you. And over time, they start thinking of you when an opportunity arises that you might not even know about. Luna: What about the downside? I've seen situations where a sponsor becomes a liability — if the sponsor falls from grace, their protégés can get tarnished too. Lucas: It's real. If your sponsor gets caught in a scandal or leaves under a cloud, you can get guilt by association. That's another reason to have multiple sponsors, and also to maintain your own independent brand. Don't be seen as someone's protégé exclusively. Be seen as a high-performer who happens to have strong advocates. The difference is subtle but important. Luna: So sponsors are high-reward but also carry some risk. For a senior leader who's been burned before, that might make them hesitant to seek out sponsorship actively. Lucas: I get that. But the data suggests the upside outweighs the risk for most people. The HBR study I mentioned also tracked executives who didn't have sponsors. They were significantly less likely to break through to the C-suite. In fact, among the Fortune 500 CEOs who were surveyed, something like 80 percent said they had a sponsor at a critical point in their career. That's not a coincidence. Luna: Eighty percent — that's a strong signal. But I wonder if the concept of sponsorship is changing in a remote or hybrid world. When you're not in the office, how do you get that visibility? How does a sponsor advocate for you when they've only seen you on Zoom? Lucas: It's harder, but not impossible. The key is to create moments of high-visibility work, even remotely. Volunteer for projects that have executive exposure. Present at all-hands meetings. Write up post-mortems that get circulated. And here's something specific: schedule a recurring 30-minute 'office hours' with your potential sponsor where you share your progress on a strategic initiative. Not a status update — a thinking partnership. That builds the relationship in a way that's natural and valuable to both sides. Luna: So it's about being proactive, even more so than in-person. Because you can't rely on hallway conversations. Lucas: Exactly. And one more thing — sponsors don't have to be internal. External sponsors — board members, investors, even former bosses who are now at other companies — can be incredibly powerful. They might not have a formal role in your promotion, but they can make a phone call that changes everything. Luna: I've seen that happen. A friend of mine was a VP at a tech company, and her former CEO — who had left to run a larger firm — called the head of her division and said, 'If you ever have an opportunity for her, you should know she's exceptional.' She got a promotion six months later. Lucas: That's a classic external sponsor move. And she didn't ask him to make that call, right? She had built enough trust and delivered enough value that he did it unprompted. That's the ultimate sign of a strong sponsorship relationship. Luna: So for our listeners who are in senior roles and feel like they've plateaued — maybe they have mentors, but no one is actively pushing them forward — what's the one thing they should do this week? Lucas: Identify one person who has influence in the area you want to grow into. Then find a way to add value to that person within the next 30 days. Not by asking for anything — by offering something. A piece of analysis, a connection to someone in your network, a solution to a problem they've mentioned. That's the seed. And then, when you've delivered, you say, 'I enjoyed working on this. If there's more I can do to support your goals, let me know.' That's how you start the shift from mentor to sponsor. Luna: It's a long game, but the payoff is tangible. Lucas, as we wrap up, I'm curious — do you see sponsorship becoming more or less common in the next few years, given all the changes in how we work? Lucas: I think it becomes more intentional. The informal sponsorship that happened naturally in offices — the golf game, the after-work drink — that's declining. But the need for sponsorship isn't going away. So organizations and individuals will have to be more deliberate about creating these relationships. I actually think it's an opportunity for senior leaders who are willing to be explicit about their ambitions. The ones who do will have a real edge. Luna: And for those of us who might be in a position to sponsor others — it's worth remembering that being a sponsor is also a career accelerant for the sponsor. Lucas: Absolutely. It's one of those rare win-wins in business. So if you're a listener and you've never actively sought a sponsor, or you've never consciously acted as one — maybe this week is the time to start. Luna: Great place to leave it. Thanks, Lucas. Lucas: Thanks, Luna. And thanks to everyone who listens and supports the show. We'll talk next time.