Leaders have always brought in experts in various fields to help with different projects. However, a newer aspect of this strategy is that they are now bringing in organizational leaders and C-Suite executives to help part-time. Doing so provides solutions to the issues created by the shift in the business model over the last ten years.
Who are Fractional Leaders?
There is an increasing need for specific experts for a brief duration in organizations, leading to a shift in dynamic to get leaders with particular talents without being constrained by full-time employment. Fractional leaders use their expertise to help businesses solve specific problems and speed-up their growth. These individuals may be specialists in a single field or many disciplines and provide their services as independent consultants or part of a company that operates in this field.
Organizations can hire fractional leaders for a more extended period or one project. They help company leaders focus on other areas and responsibilities. Fractional leadership is a natural evolution for many firms since outsourcing is the norm today as businesses strive to find top-notch, convenient, and affordable solutions.
Reasons to Use Fractional Leadership
Although it is a new and evolving concept with its shortcomings, fractional leadership offers organizations exciting benefits.
Finding and hiring the right executives and then bringing them up to speed on your company’s operations takes time. Your organization can suffer significantly during this transitional period. Your customers, suppliers, employees, or even partners may not wait until you find a leader to address their issues and concerns.
Even after finding the right person, they will likely have limited time to make an impact before you outgrow them due to the ever-changing business atmosphere. Fractional leaders provide leadership and the skills you need to grow your business.
Fractional leaders bring a fresher, objective, outside perspective from their experience leading and managing teams within various company cultures and expertise in a specific subject matter. They are also better equipped to challenge your company’s status quo and offer financial and operational perspectives to guide your expansion efforts.
Some organizations may not be ready to embrace fractional leadership, but it is slowly becoming the new rule. The model helps businesses meet market demands and get business insight and valuable direction.
Originally published on Thomas Looby’s website.