11 Feb The Fractional Job Title: Flexible Options for Both Employer and Employee
Fractional job titles are an increasingly popular aspect of today’s job market, with many companies recognizing the benefits of hiring experienced professionals on a part-time basis or project-based structure. These positions give companies the agility to bring in specialized expertise without committing to a full-time employee and provide work flexibility for individuals who may not be able or willing to take on a traditional 9-to-5 role.
Examples of Fractional Job Titles
Fractional hires can take many forms, from interim executive leaders to project-based marketing consultants. Leadership examples include:
- Fractional CTO: A Chief Technology Officer who works on a project-based schedule, providing expertise in technology strategy and implementation to the executive team, and then exits once the project goal has been achieved.
- Fractional CMO: A Chief Marketing Officer who works part-time, on a schedule uniquely defined by the company and individual, assisting in the development and execution of specific marketing campaigns.
- Fractional HR Director: A Human Resources Director working on a contract basis can help a company manage its workforce through targeted attention to specific projects or initiatives, freeing up other HR personnel and resources.
Fractional employment positions provide benefits for both the employer and employee, shaking up the business environment and broadening the range of candidates for a given position.
Benefits of Having Employees with a Fractional Job Title
On the company side, hiring fractional workers allows them to bring in specialized expertise without taking on all that comes with a classical sense, full-time executive position – saving money and resources in the long run. These roles are often quicker to fill, which can be critical when time is of the essence, and provide the flexibility needed for companies to adapt to changing market conditions. For example, a fractional executive position such as a fractional CFO can help a company to navigate a difficult financial situation or provide guidance on a specific project such as a merger or acquisition. At times, these positions begin as fractional roles but are ultimately offered as full-time opportunities. For the individual, fractional employment provides extraordinary levels of flexibility and promotes work-life balance, an issue of growing importance to today’s labor market. For the ambitious worker taking on multiple fractional roles simultaneously allows them to gain significant experience and broaden their future employment opportunities.
It is worth noting that while some swear by them, fractional positions are not without their challenges. One such challenge revolves around communication and coordination. When working with multiple fractional employees, companies can struggle to provide cohesive and consistent communication and coordination of efforts. As such, it is critical for companies to establish clear expectations and work channels when engaging fractional positions.
Whether you like it, love it, or diss it, fractional employment is becoming increasingly prevalent in today’s job market. For those looking for flexibility or who have short-term or highly specific project needs, fractional jobs can be the way to go.
Using Scion Executive Search for Your Top Talent Needs
Being an agile and versatile employer can be critical in today’s rapidly changing market environment. Whether looking for full-time or fractional leadership hires, Scion Executive Search is here to help! Contact us today to begin your company’s unique search for premiere leadership talent or visit our website to find out more about our team and our proven search methods.