How a Fractional Executive can benefit you.
The idea of a part-time executive has been around for a long time, but the increasing trend of remote work coming out of the pandemic has accelerated the demand for this kind of leader. These executives can take on various traditional leadership roles from Chief Financial Officer, Chief Marketing Officer, Chief Human Resources Officer, and others.
Fractional executives are experienced professionals who offer part-time leadership and strategic advice to companies on an hourly or retainer basis. These roles have become popular to meet the needs of businesses that may not be ready for a full-time C-suite executive but still need their expertise and guidance.
The fractional executive is different from an advisor or consultant because of how they work. An advisor gives guidance and support, but only a few hours a month at most. A consultant focuses on a specific problem for a set time or project. Meanwhile, the fractional executive ideally becomes part of the team by committing more time, often from 10 to 20 hours per week and is aligned with the company’s leadership and its key objectives.
Benefits
PROVEN EXPERIENCE: Small and midsize companies often need extra leadership for various challenges like boosting sales, scaling technology, and enhancing user experience. Fractional leaders bring decades of experience and work closely with the team to navigate complex issues.
COST EFFECTIVE: One immediate benefit of fractional executives is cost savings compared to full-time executives who require extensive compensation packages. Providing the opportunity to scale and use when you need them, fractional executives providing substantial savings for businesses while still gaining the insights and experience of top-tier talent. Often if a company hires too early this results in not only the cost of the full-time executive, but the teams often needed to support them.
DE-RISK HIRING: Hiring a fractional executive lets you test their fit with your culture, team and vision before committing. This can help avoid the high costs of hiring the wrong person for a critical role.
Fractional CFO
Bringing proven operating experience to your company to support:
Build and elevate your financial planning and analysis (“FP&A”) function.
Build and elevate your accounting function.
Refine your business strategy with financial reality.
Guide capital raise, M&A and investment banking activities.
Transform financial uncertainty to strategic clarity. Contact us today to learn more about how a seasoned Fractional CFO can propel your business forward.