Latest / Executive Careers with Fexingo: VP, C-Suite, and Senior Leadership Career Strategy / How Senior Leaders Use Executive Coaches for Career Acceleration
Transcript
- Lucas: According to a Stanford Graduate School of Business survey, about 67 percent of C-suite executives have worked with an executive coach at some point. But the real insight is that most of them start too late — they hire a coach when they're already in crisis, not when they're planning their next move. Luna: Interesting. So the proactive use of coaching is the differentiator. What does that actually look like in practice? Lucas: Take a case I came across recently. A CFO at a Fortune 500 company was tapped for the role about six months before her official start date. Instead of waiting until she was in the seat, she hired an executive coach who specialized in CFO transitions. They worked together to pressure-test her boardroom communication style and built a detailed 90-day credibility plan. By the time she started, she already knew which stakeholders to prioritize and how to frame her first quarterly earnings call. Luna: That's a very different approach from the typical 'I'm struggling, let me find a coach' narrative. It's more like a performance accelerator. Lucas: Exactly. And the data backs it up. The Stanford survey also found that executives who engaged a coach proactively reported a 30 percent higher impact on their performance compared to those who started reactively. So it's not just feel-good — there's a measurable ROI. Luna: But I think there's still a stigma, especially at the VP and C-suite level. Some leaders worry that hiring a coach will signal weakness to their board or their team. Lucas: That's the old mindset. The new reality is that top performers in any field use coaches — athletes, surgeons, musicians. Why should executives be different? In fact, I'd argue that not hiring a coach is a bigger red flag. It suggests you think you have nothing left to learn. Luna: Right. So if a senior leader is considering a coach, how do they even start? There are so many options — coaching, consulting, therapy. What's the difference? Lucas: Great question. Coaching is forward-focused and action-oriented. It's not therapy — you're not unpacking childhood trauma. And it's not consulting — the coach isn't going to solve your spreadsheet problem for you. A good coach helps you clarify your own goals, holds you accountable, and gives you a safe space to test ideas. Therapy deals with the past, consulting deals with technical problems, coaching deals with your potential. Luna: So what should someone look for when vetting a coach? I imagine credentials matter, but so does fit. Lucas: Three things. First, track record in your specific industry or function — a coach who's worked with CFOs at large industrials is going to understand your context better than a generalist. Second, chemistry — you need to be able to be brutally honest with this person. And third, a defined scope. A good coach will propose a structured engagement with milestones, not open-ended 'let's see how it goes.' Luna: What about credentials? There are so many coaching certifications out there. Lucas: Look for ICF accreditation — the International Coach Federation — as a baseline. But honestly, for senior leaders, the strongest signal is a coach who has held a senior leadership role themselves. They've been in the room. They know the pressure of a board meeting or a difficult performance conversation. Luna: That makes sense. I've noticed that some executive coaches also offer what they call 'executive presence' coaching. Is that a separate thing, or does it overlap? Lucas: It's often part of the broader toolkit. Executive presence can mean anything from how you run a meeting to how you handle tough questions from investors. A good coach can help you identify blind spots in your communication style. For example, that CFO I mentioned — she tended to over-explain technical details. Her coach helped her condense her messages into clear, strategic soundbites. That's a tangible skill that directly affects how she's perceived. Luna: And I assume the coach would also help with the softer side — like managing imposter syndrome or dealing with the isolation of senior roles. Lucas: Absolutely. Isolation is a huge issue at the C-suite level. You can't vent to your team about a tough decision, and your peers are often competitors. A coach becomes a confidential sounding board. One CEO I know told me his coach was the only person he could be completely transparent with. That kind of trust is invaluable. Luna: So what's the typical commitment? Weekly sessions for six months? Monthly check-ins? Lucas: It varies, but the most effective engagements I've seen are structured around a specific transition or goal — say, a new role, a promotion, or a major strategic initiative. Typically that's a three to six month sprint with weekly or biweekly sessions. After that, you might shift to monthly maintenance. The key is to have a clear endpoint where you reassess. Luna: And the cost? I imagine it's not cheap. Lucas: For a seasoned executive coach, you're looking at anywhere from five hundred to two thousand dollars per hour. Some charge a monthly retainer. But think about it — if a coach helps you negotiate a twenty percent higher compensation package, or avoid one major misstep, the ROI is enormous. Luna: That puts it in perspective. So if a VP or director is listening and thinking about hiring a coach, what's the first step? Lucas: Start by getting crystal clear on what you want to accomplish. Are you preparing for a board seat? Are you struggling with a specific stakeholder relationship? Do you want to improve your public speaking? Write down three specific outcomes. Then use that list to interview at least three coaches. Ask them how they would approach each outcome. If they can't give you a concrete plan, move on. Luna: And what about internally? Does the company ever pay for executive coaching? Lucas: Many large companies have leadership development budgets that cover coaching for high-potential executives. But there's a catch — if the company pays, the coach may share some feedback with HR. For truly sensitive conversations, some executives prefer to pay out of pocket to maintain complete confidentiality. That's a personal call. Luna: That's smart. So the coaching relationship can be both a professional investment and a personal one. Lucas: And honestly, the reason we can dive this deep into niche topics like executive coaching is that the show is listener-supported. We keep it ad-free because a small group of listeners chips in monthly through buy me a coffee dot com slash fexingo. It's not a huge number, but it makes a real difference in allowing us to produce content like this. Luna: Yeah, it's one of those things where a little support goes a long way. And it keeps us independent — no sponsors to satisfy, just focused on what matters to our audience. Lucas: Exactly. So back to coaching — one more thing I want to highlight. Don't underestimate the power of a coach in helping you navigate organizational politics. Senior leaders often get blindsided by dynamics they didn't see coming. A coach who's been in similar situations can help you map the terrain. Luna: Can you give a concrete example? Lucas: Sure. A VP of engineering was up for a CTO role, but there was a peer who was also angling for the same position. The coach helped him identify which board members were undecided and how to subtly demonstrate his strategic vision in one-on-one conversations. He ended up getting the role, and he credited the coach with helping him read the room better. Luna: That's a great illustration. So coaching isn't just about soft skills — it's also about strategic positioning. Lucas: Right. And the best coaches are honest enough to tell you hard truths. That's something you rarely get from colleagues or friends. They'll tell you if you're coming across as defensive, or if your presentation is too long, or if you're underestimating a key stakeholder. That kind of candor is gold. Luna: So the takeaway for our listeners: if you're a senior leader thinking about your next move, consider hiring a coach early, be specific about your goals, and vet for chemistry and industry experience. Lucas: And remember, the goal isn't to fix something broken — it's to unlock the next level of performance. Whether you're a VP eyeing a C-suite seat, or a seasoned executive preparing for a board role, a coach can be one of the smartest investments in your career. Luna: Good point. Thanks, Lucas. Lucas: Thanks, Luna. That's it for this episode. We'll see you next time.