Hiring Fractional workers or part-time business advisors makes good sense
Sometimes it makes sense to hire a full-time employee to handle a task for your company. Other times, it doesn’t make sense.
In some instances, it makes good sense to find an inexperienced but hard-working candidate and slowly train them on how your company works and what is required for the job.
But sometimes you DON’T KNOW what they should be doing – you simply realize you have a gap to fill. You need to hire a more experienced person that understands your problem and knows how to solve it.
But many companies struggle with not having enough cash flow to hire experts across all domains, to provide the experience and knowledge required. So instead they turn to fractional employees.
Fractional employees can provide all the benefits of experience and knowledge, without the cost of a full-time employee.
Companies all over the country and around the world are finding success with this model. It has been proven effective in a variety of disciplines, including HR, Finance, Marketing, Strategic Planning, and even executive leadership.
Comparing Full Time and Fractional Employees
Average Inexperienced Employee (FTE)
- Roughly $4k-$7k per month salary
- Additional 25%+ benefits cost
- Requires onboarding, training
- Handles large volume of tasks
- Limited talent pool based on low salary
- Typically works 40 hours a week
- Once hired, they’re yours
Experienced Fractional Employee
- Roughly $3k-$8k per month cost
- No benefits costs
- Treat as a 1099 – add/remove as needed
- Handles smaller volume, strategic tasks
- Virtually unlimited talent pool
- Typically works 5-15 hours a week
- Can retain or release based on workload or “fit”
Read More About Fractional Employees
Use of Fractional Employees in key roles is not a new concept. It has been used for decades, but the benefits are becoming more widely known and valued over the past 10 years. Read what others are saying about how and when Fractional employees are a good fit.
Why Companies Should Embrace The Fractional Employee Business Model (Forbes)
Execs Find Flexibility and Development Through Fractional Work (Newsweek)
First-Ever Report on Fractional Industry Released (Yahoo! Finance)
The Future Is Fractional: How Remote Work Opened Doors For Decentralized Talent (Forbes)
