With a job market continuously evolving, many businesses are not interested in having an executive at the bottom with a huge salary. This will not provide much value as the company is paying more for less. Case in point is with a CFO at full-time and making a yearly salary of $550,000 and temporary fractional
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As a leader
fractional executives get hired to assume an executive´s role for a fixed amount of time that is not usually full-time. The positions that a fractional executive undertakes involve VPs in Human Resource, finance, as CFO, CHRO, or even as the Controller, just to name a few.
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As a fractional executive
they make up a huge amount of the consulting world. Regardless of them only working in a capacity that is short-term, the effect that they have on an organization is considered very important. A fractional executive is a true professional in whichever field they work in, which clients see as being worth more than gold. Having a huge amount of experience and leadership skills also means they will be able to take control with very little oversight.
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5 Benefits of a Fractional Executive
Outcomes Are Instantaneous
Having fractional executives means you will benefit highly from the instant outcomes they can provide without having to wait and see what they are capable of after hiring. On average, a hiring process can take as much as 3 months from start to finish, which is dependent on the position being filled. Of course, when
Top Notch Guidance
Obtaining guidance is a good reason to have a fractional executive on your team. They will be able to strategize and provide new ways of doing the same business. Your executive needs to be able to lead by example while providing their experience of what works and what does not while trusting them fully. A
Decreased Amount of Risk
Having fractional executives are perfect for times where a full-time position is not available but where the company could benefit from their knowledge and way of thinking. Having this hiring option available is a great way to implement talent as the company grows. In hindsight, it is better to have them onboard as an adviser
New Point of View
A lot of times having a new point of view can provide a new approach to having issues resolved. This is good in order to eliminate the issues and have things function differently and more efficiently. When fractional executives are on your team, you get a new point of view that will assist in continued