Why Smart Businesses are Embracing Fractional Executives
Fractional executives exist for nearly every position
In today’s rapidly changing business environment, marked by technological advancements and global market shifts, many companies seek innovative ways to remain agile and cost-effective. One of the surprising answers to this call is the emergence of the fractional executive. As companies big and small grapple with the uncertainties of fluctuating economies and market conditions, the fractional executive stands out as a unique way to gain critical expertise without the cost of a full-time commitment.
What is a fractional executive?
While the concept of a fractional executive has been around for decades, the rise of the gig economy and the push for more flexible work structures coming out of the pandemic accelerated the demand for this type of leader. The fractional executive refers to seasoned professionals who provide leadership and strategic guidance to companies part-time or contractual. These roles emerged as an answer to several business needs, particularly for companies not ready or not needing a full-time C-suite executive but still requiring the insights and direction such a person can bring.
There are fractional executives available for nearly every position. According to Ben Wolf, the author of “Fractional Leadership: Landing Executive Talent You Thought Was Out of Reach,” the most common ones are chief marketing officers, chief sales officers, chief operating officers, chief financial officers and chief technology officers.
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