Latest / Executive Careers with Fexingo: VP, C-Suite, and Senior Leadership Career Strategy / How Senior Leaders Use a Career Contract
Transcript
- Lucas: So there's a document I've been asking every senior leader I know about for the past month, and I've been surprised by how many of them have one and how few will actually show it to me. Luna: Is this the one where you write down what you actually want from a job? Because I feel like I've heard you hint at this. Lucas: Exactly. It's called a career contract. And before you say it, no, it's not the same as a transition charter or a job description. Those are about the role and the first ninety days. A career contract is something you write for yourself. It's a private agreement between you and you, about what you will and won't accept, how you'll measure success, and what would make you walk away. Luna: So it's like a personal constitution for your career. I love that. But why haven't I seen anyone write about it? Lucas: Because it's deeply personal, and it often feels like a luxury until you're in a tough spot. I was talking to a chief operating officer who runs a portfolio company for a private equity firm. He told me he drafted his career contract the week he took the job, and he's used it three times in two years to make decisions that would have been really easy to get wrong without it. Luna: What kind of decisions? Lucas: The first one was about a board mandate that would have doubled his travel schedule. The contract said he needed to be home for his kids' soccer games on Saturdays, and that was a non-negotiable. He'd written it down, so when the board pushed, he had a clear answer, and they actually respected it more because it was a written commitment, not just a preference. Luna: So it's not just about career advancement, it's about protecting your life. That's a different angle than most of what we've covered. Lucas: Right, and that's why I think it's worth an episode. Most career advice is about how to get more, climb higher, negotiate a bigger package. This is about defining what enough looks like, and then having the spine to stick to it. Luna: So how do you actually write one? Is there a structure? Lucas: The way my COO friend described it, there are three sections. The first is a mission statement — not a corporate one, but a personal one. What are you trying to achieve in the next three to five years that's bigger than the role itself? For him, it was about proving he could lead a turnaround without losing his family in the process. Luna: That's a strong mission. And the second section? Lucas: That's the boundaries. Specific, measurable lines. How many days can you be away from home in a quarter? How many nights can you work late? What kind of behavior from your boss or the board is a deal-breaker? He had a line about not working for someone who publicly humiliates their team. And he's stuck to it. Luna: That's the kind of thing that sounds easy in theory but hard in practice. Especially when you're making good money and have a family to support. Lucas: Exactly. That's why the third section matters: exit triggers. These are the conditions under which you would resign, even without another job lined up. It sounds extreme, but having that written down clarifies your thinking. For the COO, one of his triggers was if the private equity firm replaced him without a conversation about his contract. Luna: Did that ever happen? Lucas: Not exactly, but he had a moment where the firm brought in a consultant who was clearly angling for his job. The contract told him to watch for that exact sign. He confronted the situation head-on and ended up keeping his role. But he said without the contract, he would have been paralyzed, wondering if he was being paranoid. Luna: So it's a tool for clarity in ambiguous situations. That makes sense. But how is this different from just having a list of priorities? Why does it have to be a formal document? Lucas: Because writing it down changes your relationship with it. A priority list is something you glance at. A contract is something you sign. It has weight. I've seen leaders who keep it in a drawer, but they pull it out quarterly and review it. They mark what's still true and what's changed. That discipline is what makes the difference. Luna: A quarterly review. That sounds like a board meeting with yourself. Lucas: It kind of is. And actually, the best ones treat it that way. They block an hour on the calendar, no phone, no distractions. They go through each section and ask: Am I living by this? Is this still what I want? If not, they revise it. The contract is a living document, not a tombstone. Luna: I can see how that would be powerful. But let's be real, most executives I know are too busy to write anything more than a to-do list. How do you get started? Lucas: Start small. Don't try to write the perfect contract in an afternoon. Begin with one boundary that's non-negotiable. For some people it's family time, for others it's intellectual challenge, for others it's not working with a certain type of person. Write one sentence. Then add a second. Over a few weeks, you'll have a document that actually reflects you. Luna: And then what? You just keep it in a note on your phone? Lucas: Some do that, but the most effective leaders I've met share it selectively. Not with everyone, but with someone they trust — a mentor, a spouse, a close peer. That turns it from a private wish into a public commitment. It's the same accountability mechanism that makes a goal more likely to happen once you tell a friend. Luna: It's like having a witness to your own promises. I like that. Lucas: And here's where it gets interesting in a negotiation. If you have a career contract, you can use it in conversations with your board or your CEO. Not by showing them the whole thing, but by being clear about the boundaries that matter. It's not a threat, it's a statement of who you are. That actually increases your negotiating power because you're not a pushover. Luna: I can imagine that being particularly useful when you're considering a new role. You could compare the offer against your contract before you get swept up in the excitement. Lucas: That's exactly what one of my guests on another show told me. She had a career contract that specified she would not work in an organization with a toxic culture. When she was courted by a company with a brilliant brand but a reputation for high churn, she passed. Everyone thought she was crazy. But two years later, that company's CEO was replaced in scandal, and she's thriving in a place that fits her contract. Luna: That's a powerful story. And it's a reminder that the contract isn't just about avoiding bad things, it's about creating space for the good. Lucas: Exactly. It's a positive tool. And I think that's where a lot of people get it wrong. They think it's about restrictions, but it's really about freedom. When you know your limits, you can go all-in on what matters without that nagging doubt. Luna: You know, this reminds me of something. We talk a lot about strategy and tactics on this show, but at the end of the day, the thing that makes a career sustainable is alignment. And this contract is a way to check that alignment. Lucas: It is. And it's something you can do at any stage. I've seen early-career professionals draft them, and I've seen CEOs revise them at sixty. The questions are the same: What do I stand for? What am I willing to trade? What's the legacy I'm building? Luna: And that's why we can keep making these episodes, because careers are never static. And neither are contracts. Lucas: Right. And before we wrap, I want to say something that's been on my mind. We put a lot of work into Executive Careers, and it's ad-free thanks to listeners who support us. If you've gotten value from our conversations, a couple of dollars a month genuinely helps keep these going. You can find us at buy me a coffee dot com slash fexingo. Luna: It's a small gesture that lets us keep digging into topics like this. We appreciate every bit of support. Lucas: Now, back to the contract. I think the most important thing is to start today. Don't wait for a crisis. Write one sentence tonight. Put it in your phone. That's the first step toward a career that's truly yours. Luna: I'm going to do that. And I have a feeling our listeners will too. So what's the first sentence you'd write? Lucas: Mine would be: I will not take on a role that requires me to be someone I'm not. That's the core of my contract. What about you? Luna: I think mine would be: I will always leave time to think, not just to act. That's my non-negotiable. Lucas: Then we've both got a starting point. And that's the real takeaway here. Your career contract is not a one-time exercise, it's a practice. Review it, revise it, live it. That's how you lead with intention. Luna: Until next time, keep your contracts close and your values closer.