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Fractional workforce

Leveraging the fractional workforce

May 11, 2023

Fractional talent supports full-time teams in a hybrid workplace

From SeasonedPros.ca Insights Lab

  • Identifying roles and skillsets to achieve goals
  • Create a new talent strategy
  • Cultivate a culture of collaboration and communication
  • Embrace technology
  • Evaluate talent pool and adjust strategy

As the world emerges from the COVID-19 pandemic, business leaders are reconfiguring their workforces to meet the challenges of talent shortages and demographic changes.

While the traditional model of hiring full-time employees has been the norm for a century, organizations are recognizing that this no longer meets talent needs.

They are adopting a fractional hybrid workplace that blends traditional full-time employees with on-demand talent.

Fractional talent is not a replacement

Fractional workers bring specialized expertise to a project or a leadership role on a part-time, interim or project basis. They are an addition to full-time employees, not a replacement.

With the help of fractional talent, organizations are building out fully-integrated hybrid teams to optimize institutional knowledge and highly specialized knowledge.

This model is a game-changer for companies looking at optimizing talent because it provides new opportunities in a rapidly evolving market.

By leveraging this model, businesses can tap into the benefits of both traditional and on-demand talent, finding flexibility and cost-effective approaches to talent acquisition.

5 ways to develop a fractional workforce

  1. Identify key roles and skill sets: The first step is to identify the roles and skills required to accomplish company goals. To do this, leaders must analyze the company’s current workforce and roles with a view to future needs. This requires a big-picture look at evolving market trends, growth plans, and strategic objectives. By identifying key roles and skill sets, companies can determine which positions are best suited for full-time employees and the specialized knowledge that can be fulfilled by on-demand talent
  2. Develop a talent strategy: Once the key roles and skill sets are identified, companies need to plot a roadmap on how they will attract, retain, and manage their workforce. The key here is to build relationships with organizations and platforms that source, vetting and help to onboard fractional talent.
  3. Foster a culture of collaboration: To create a successful hybrid fractional workforce model, leaders must foster a culture of collaboration. This helps integrate full-time employees and on-demand fractional talent into teams. By promoting collaboration, companies can create a sense of community among their workforce, regardless of their employment status. This also helps to break down silos and ensures that everyone is working towards the same goals.
  4. Embrace technology: Companies must leverage digital tools to manage their workforce efficiently, from sourcing and screening candidates to tracking performance and payments. Collaboration tools, project management software, and communication platforms are essential to ensure that on-demand talent is integrated into the company’s workflow seamlessly.
  5. Evaluate and adapt: Finally, creating a hybrid fractional model is an ongoing process that requires continuous monitoring and adaptation. Companies must regularly assess their workforce needs, evaluate the performance of their on-demand talent, and adjust their talent strategy as needed. By staying agile and responsive, companies can ensure that they are leveraging their workforce optimally and achieving their strategic objectives.

Creating a hybrid fractional model of hiring requires a strategic approach and a willingness to embrace new ways of working. By identifying key roles and skill sets, developing a talent strategy, leveraging technology, fostering a culture of collaboration, and monitoring and adapting, companies can build a workforce that is flexible, agile, and aligned with their mission and values.

SeasonedPros.ca is an on-demand business talent source. Clients with an immediate need for experienced talent trust us to source professionals for fractional, 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.

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