If you’re a start-up, or a small to medium business, then you might be having difficulty trying to figure out how you should fill the gaps in your workforce. You might need your first marketing strategy or a plan to enter a new market, or you might need design expertise when coming to design a new product or service, and you don’t have anyone on your team with the expertise to fill these roles satisfactorily.

If you don’t yet have the budget or the long-term need for an additional employee full-time to fulfill these responsibilities – this is where hiring a fractional executive can come in handy.

What are fractional executives?

Fractional executives are individuals who work on a freelance or part-time basis, who fill crucial C-suit management roles such as Chief Marketing Officer, Chief Design Officer, Chief Information Officer and more. These individuals come loaded with previous experience, having typically filled one of these roles in a full-time position during their careers; their skills can be niche, or more broad, and are able to add to the value of your company’s workforce in a multitude of ways.

What kind of organizations can benefit from hiring a fractional executive?

Growing start-ups or small to medium businesses that have needs they’re struggling to meet with their in-house workforce will likely benefit the most from hiring a fractional executive.To SMBs, making cost-effective decisions is crucial. Hiring fractional executives can reduce costs as they won’t be paying the fractional executive a full-time salary, since fractional executives typically have more than one client to make up their income.

Moreover, fractional executives are usually incredibly experienced and can provide insight and experience to businesses which can allow them to make the best decisions – and enjoy the most growth – from their company. With fractional executives, small to medium businesses gain access to talent that they probably wouldn’t be able to afford if they were hiring them as a full-time employee.

More than simply giving advice – unlike a consultant – fractional executives do more than provide recommendations: they stick around to ensure their plans are put into action and continue to help grow your business down the line.‍

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How should businesses get started looking for the right fractional executive?‍

First, it’s important for businesses to identify where their workforce is lacking, what their needs are and whether the needs are large enough to justify hiring a full-time employee, or if a fractional executive is a better fit. After this, you can begin search for a fractional executive – whether you need someone with a broad or specific skillset – by reaching into your network, or by browsing the internet. Either way after conducting a quick search, you’ll be sure to find companies or individuals with the skillset you need, at the price you can afford.

If you need a cost-effective way to fill the gaps – and to gain the benefit of unique talent and experience for your business – consider the plus points of hiring a fractional executive and watch your business grow. Contact us today for a free consultation to see if we can help.