Jun 12 min read

When To Hire A Fractional Executive

Hiring an experienced executive can lead to financial strain, particularly if the company is not yet generating substantial profits. Allocating a large portion of the budget to executive salaries could limit the company’s ability to fund other critical operations or growth opportunities.

Here are some situations that it makes sense to consider a fractional executive:

When You Need Expertise on a Tight Budget:

If your business requires the strategic insight of a seasoned executive but can’t afford or justify a full-time position, a fractional executive is an ideal solution. They bring their experience and skills to the table without the weight of a full-time salary and benefits package.

When Your Business is in a Period of Growth or Scaling:

When your company is scaling up, you will need specialized knowledge to navigate the challenges of growth. A fractional executive will guide your organizational team through this phase, offering their expertise in areas like operations, finance or marketing, without the long-term commitment.

For Specific Product Launches

Sometimes, a specific project requires the leadership of someone with executive-level experience, but only for the duration of the project. Hiring a fractional executive can provide your team with the leadership they need to complete the project successfully.

To Fill a Temporary Leadership Gap

If an executive leaves unexpectedly or takes a leave of absence, it can leave a significant gap in your company’s leadership. A fractional executive can step in to fill this gap, ensuring continuity in strategic decision-making and operations until a permanent solution is found. Additionally, fractional executives can provide training for leaders to accomodate any changes or shifts within the organizational culture.

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