Why Fractional Hiring Makes Sense
We have all heard people saying that the world is changing, and either we change with it or get left behind.
The challenge is, how do we change, and are we changing in ways that benefit us, our company, our teams, our clients and our stakeholders?
We all know what we know, but the problem is, there is far more that we don’t know and that is scary.
Thankfully, we don’t have to hire for every expertise and every challenge, which can be a significant financial burden. Extra headcounts result in more insurance, more infrastructure and more people needed to support a growing team.
The good news is, there is a more efficient and effective way to manage resources.
Companies worldwide are turning to fractional leadership—people with decades of experience and expertise in their individual disciplines who can draw on knowledge gained from working with clients across industries.
These experts come to the table ready to assess where you are now, where you have been, and what challenges and opportunities there are. They can quickly and effectively build strategies and tactically to move you from where you are to where you desire to be.
Over the following weeks, we will present a series of articles answering people’s top questions about utilizing fractional leadership, how it benefits you and your organization, and what types of fractional leaders exist.
It is all about flexibility and creating solutions to your challenges without having to rely solely on full-time in-house experts, which are not always practical for many reasons.
Ideas that could be discussed include:
- What is fractional leadership, and how does it work?
– Companies want to understand the basic concept, including how fractional leaders integrate with existing teams and the typical duration of their engagements.
- What are the benefits of fractional leadership compared to traditional full-time executives?
– Organizations seek to know the advantages, such as cost savings, flexibility, and access to specialized skills.
- How do we determine if fractional leadership is right for our company?
– Companies need to assess their specific needs, budget, and the scope of the project to decide if fractional leadership is a suitable solution.
- How do we find and hire a fractional leader?
– Firms are interested in the best practices for sourcing, vetting, and hiring experienced fractional executives.
- What are the costs associated with fractional leadership?
– Understanding the financial implications, including hourly rates, project-based fees, and any hidden costs, is crucial for budgeting purposes.
- How do we manage and measure the performance of a fractional leader?
– Companies want to ensure there are clear metrics, goals, and communication strategies in place to effectively oversee the work of fractional leaders.
- What are the legal and contractual considerations?
– Firms need guidance on contract terms, confidentiality agreements, intellectual property issues, and other legal matters related to hiring fractional leaders.
- How do fractional leaders handle team dynamics and company culture?
– There are concerns about how an external leader will fit into the existing team and align with the company’s culture and values.
- What industries and roles are best suited for fractional leadership?
– Companies want to know if their industry and specific executive needs (e.g., marketing, finance, operations) are a good match for fractional leadership models.
- What are the potential drawbacks or risks of fractional leadership?
– Understanding the possible downsides, such as limited availability, lack of long-term commitment, and the challenge of finding the right fit, helps companies make informed decisions.
Over the weeks, we will not only discuss the questions above, but also how to easily get started and things that you may need to consider along the way. When it makes sense, we will bring in expert opinions from those who are executing daily.
About Ben Baker
Ben Baker has been a Fractional Chief Communications Officer, Chief Marketing Officer and Chief Podcast Officer for his clients for over a decade. "The single biggest problem with communication is the illusion that it has taken place.” - George Bernard Shaw We help you fix that problem and make sure you are listened to, understood, valued, and engaged with by internal and external clients, prospects and stakeholders in meaningful and profitable ways.
Ben Baker has been a Fractional Chief Communications Officer, Chief Marketing Officer and Chief Podcast Officer for his clients for over a decade.
"The single biggest problem with communication is the illusion that it has taken place.”
- George Bernard Shaw
We help you fix that problem and make sure you are listened to, understood, valued, and engaged with by internal and external clients, prospects and stakeholders in meaningful and profitable ways.
