Fractional is a flexible and cost-efficient solution
From The SeasonedPros.ca Insights Lab
In the world of talent acquisition, fractional hiring is emerging as a hot new trend for small- and medium-sized organizations that need talent to grow.
Fractional hiring is an on-demand talent model that sources experienced business professionals to work on a part-time, interim or contract basis.
Fractional boosts ROI
This approach to talent acquisition is fast, flexible and cost-effective for organizations grappling with talent shortages and uncertain economic times.
The fractional hire works on a contract for a specified period of time. It is called fractional because the talent works at a “fraction” of the time of a full-time worker. When the project is completed, the talent moves on with no need for severance.
What many companies have realized is that the fractional model provides them with experience and expertise without assuming the overhead costs and long-term commitment of a full-time hire.
Using the fractional model, the organization has the freedom to hire another fractional contractor for a new project. This addresses the problem of talent redundancy between projects.
For a small business or a start-up, this flexibility is an important ingredient for growth and return on investment.
Fractional leaders and experts
Fractional talent comes in all shapes and sizes and can be brought into an organization in as short a time as two weeks. This significantly shortens the hiring cycle and accelerates growth.
An organization may need a business leader to bridge a transition between CEOs. Fractional CEOs bring leadership experience from other organizations and sectors.
The same is true for fractional CFOs, HR leaders, project managers, marketing and business development specialists, and procurement professionals.
These contractors are subject matter experts who can deliver on a project with minimal training and shorter onboarding time.
Fractional experts come into an organization ready to “hit the ground running” because they have experience working on contracts for different organizations.
Fractional is win-win for talent and companies
The bonus of the fractional approach is that it’s a win-win for the organization and the talent.
Many experienced business professionals don’t want a full-time commitment year-round, and prefer to use their skills and experience on a contract basis. Quite a few have traded full-time careers for contract work, using their skills and expertise to add value to client organizations.
Fractional attractive to public and private sectors
Small- and medium-sized businesses have embraced the fractional model, but it is also popular with not-for-profit organizations, crown corporations and government departments.
The challenge these organizations all have in common is a talent shortage that came about as a generation of full-time talent left long-term, full-time careers.
This same talent is now available on the contract market, giving organizations flexibility and cost-efficiencies for building talent pipelines and growing their organizations.
SeasonedPros.ca is an on-demand business talent source. Clients with an immediate need for experienced talent trust us to source professionals for project, interim and part-time roles. Each professional in our national database has 20 + years of business experience. We provide our clients 2-4 four vetted professionals in 10 business days or less.