When is a Fractional Executive the Right Choice for a Company?
In 20+ years of pairing executives with companies in need, we have learned that there are times when full-time is too much time. That’s when companies benefit from choosing a fractional executive. It’s a way to get top-notch skills for a fraction of the time at a fraction of the cost of a full-time hire.
In this webinar, we set out 5 situations when taking on executives on a fractional basis makes the most sense:
Here are the highlights:
1. You Aren’t at a Stage Where Full-Time is Needed in this Role.
By choosing to take on a part-time exec, you can afford top talent with a proven skill set. You get more done with less.
2. You Need Very Specialized Leadership for a Specific Project or Initiative.
Hiring part-time project-based executive-level leadership can give your company a competitive advantage at an affordable price. For example, you could bring in a fractional CFO to help prep the company for an IPO, merger or spinoff.
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3. You Don’t Know What You Need Yet.
You know that something isn’t right, but you’re not sure what. Whether the issue seems to be one of cash flow, human resources, company culture or something else, contracting with an experienced leader for short-term fractional work can help you identify the problem and fix it.
4. You Want a Low Cost, Low Risk, Flexible Contract.
This is where a fractional contract is ALWAYS the answer. Securing the services of a fractional executive through InterimExecs ensures that no employer-employee relationship has been created. And further ensures no other long term liabilities or burdens to the company or its bottom line - no severance, vacation, healthcare, retirement, equity, or other typical employee benefits, and no long-term contracts.
5. You Need to Fill an Executive Seat Fast.
Fast action is a huge benefit of contracting with a fractional resource via InterimExecs RED Team. These are all expert, battle-tested executives with repeat track records of success.
Whether you’re in need of a CEO, CFO, COO, CIO, CTO, CISO or CMO to stabilize, fix or grow, contact InterimExecs for a confidential discussion about how a part-time or fractional executive can help solve your biggest challenges, opportunities, and leadership gaps.
Engineering Leader (ex-Meta | ex-Micron | ex-Founder)
11 个月Curious how are fractional execs compensated in a non-profit startup through InterimExec without becoming statutory employees and/or creating tax liabilities for both non-profit and interimexec
Healthcare Executive Driving Technology-Enabled Disruption
11 个月Robert, this is an insightful article. Many business deliverables—from tech stack creation to branding to org design—are “projects,” i.e., they have known goals, start and end times, and budgets. Fractional employees—not just executives—may be a better option than full-time employees with amorphous deliverables. I have written extensively about creating a contract-based culture. Fractional executives are a good data point supporting that change. What is missing today? 1) An appreciation of contract-based/fractional work as a first-class and more flexible rubric than full-time, exclusive work, 2) Elimination of non-competes. Non-competes are harmful in general; for a fractional employee, they are laughable.
Aberdeen Advisors Founder | Author, Speaker, Deal Maker | Mergers & Acquisitions Specialist
11 个月Great information Bob!
Principal at A Third View Medical, LLC
11 个月Robert, great post! Many executives in transition do not realize how to market their talents and build a business that helps many rather than only one employer. The three strategies of transition are to get a job, buy a job, or build a future!
Great conversation!