Strategy Saturday - The Insurance Nerds Saturday Edition
A Cost-Effective and Flexible Alternative to Traditional Executives: Fractional Leadership Series (Part 2)
The world is continually changing, and that may be the universal constant. We don’t know what is happening next from quarter to quarter or year to year.? Whether it be economics, politics, demographics, or just fads, as business owners, we need to be ready to shift on a dime, and the phrase, be resilient, adaptive, and creative, has never been as true as it is today.
Fractional leadership can alleviate many issues for growing companies.?
For those unfamiliar with the term, fractional leadership are experts in a wide variety of fields who can come in and run strategy and tactics within their own discipline without being a full-time drain on payroll or other resources (see our series introduction HERE)
Where consultants are there to show you where your pain point is, the role of the factional leader is so much more.? They identify the challenge and work with you, a portion of the week or month, to build the strategy and enable tactics to be implemented.
They usually work with two or three clients at a time, splitting their monthly schedule between them, so although their focus is split, so are their payments.? As a business owner, you pay for their time and energy while they are present, but when they are not, they are on someone else’s dime.
Fractional leadership offers several advantages compared to traditional full-time executives.?
Here are the top ten benefits: READ THE FULL ARTICLE BELOW
CEO & Cofounder of LION Specialty | Helping Underserved Financial Institutions Access Global Market Insurance Solutions | Specializing in Corporate Liability & C-Suite Personal Asset Protection
7 个月As more start ups emerge, trying to take on the establishment, this makes a great case for outsourcing some of the traditional operations roles we used to think we needed in house. Higher quality talent pools at a fraction of the cost. This was a solid read guys. Thanks
Are you concerned about the looming trade war and how it will affect you? I can help with that! | Strategic Communications & Change Leader: Communicating your value to differentiate you in uncertain markets.
7 个月Thanks for publishing this series Insurance Nerds #fractionalleadership
USI Insurance Services Commercial Lines Account Representative
7 个月Great points! I really like benefit #7 (objectivity of fractional leaders) of the full article. My initial fear with a fractional leader would be their lack of connection with the hiring company's culture and team, but I never thought about this distance as also being beneficial, as the fractional executive can provide truly unbiased and objective feedback to businesses that may suffer from groupthink all too often. ??