If Fractional Jets Work - What About Fractional Executives?

Since the early 90's fractional jet services have been offered to help create a more cost effective alternative to private jet travel than owning a multimillion dollar aircraft. The industry has gone through multiple iterations but 30 years later it is still going strong. Why? It has succeeded because it makes sense. It gives people access to faster and more convenient travel than flying commercial and at a fraction of the cost of owning a jet. Fractional executive services provide similar benefits and much more.

Fractional Executive Services have been growing in popularity over the past 15 years in particular, arising from both the availability of part time executive talent and from the market demand for it. Since the Great Recession, the United States has witnessed the birth of the "gig economy". At first for executives they took part time "gigs" out of necessity after being displaced. Now, the genie is out of the bottle, and many executives have no desire to go back to a full time job. They happily hire themselves out as fractional executives, allowing them to bring their talents to multiple companies, and in particular, to businesses that might not be able to afford their full time equivalent. This allows for the creation of significant value for small and mid sized businesses. They benefit tremendously from a seasoned executive's experience, while only paying a fraction of the cost, and often with no long term commitment.

Simultaneously, the executives benefit from doing fractional work because they get to see a variety of businesses which enables them to keep growing in knowledge and experience and therefore growing in their ability to help their clients. It is really a very symbiotic improvement to the talent ecosystem.

Fractional executives can serve in almost any leadership role: CFO, CSO, COO, CXO, CIO...etc. The following is only a partial list of the benefits to a company using fractional executive services:

• It allows visionary owners to work more on their areas strength and delegate work that is not their strong suit.
• Owners can work more on the business than in it.
• Companies get to hire someone that has "been there and done that" so you can accelerate your corporate knowledge.
• Bringing in a temporary outside executive can provide for a fresh perspective on the company and sometimes cut through built up red tape and politics.
• Leading critical projects that have limited duration.
• More cost effective than a full time hire both in direct cost and in the fact that they do not require any benefits costs.
• Temporarily filling a vacant position.
• Executing a leadership role not currently on the org chart, but needed for growth.
• Help to prepare the company to hire a full time position by developing and testing the role.
• A fractional executive may be able to add value to more than one functional discipline in the company.

Again, these are only partial list of the benefits of fractional executive services, there are many more as you look into the specifics of the different roles and also of the specific executive you bring in to the role.

If you would like help exploring the benefits of fractional executive services or discussing a specific role, I am happy to help. You can reach me at: [email protected]