Over the past few years, fractional hiring has become a growing trend especially for fast-growing companies who lack the financial budget to hire seasoned, experienced employees. While many companies who hire fractional employees treat them just as they would an employee of the company, actually being a fractional employee has its own set of challenges.
Here are four things fractional employees want their clients to know:
Clear communication gets you better results
Organizations typically have a standard response time policy (whether formal or not). In most companies, the turnaround time for deliverables often depends on urgency. So some items like your monthly financials may have hard deadlines and must be handled right away.
Poor employee communication severely impacts small businesses, costing on average over $400,000 per year. So it’s critical to your business’s success to keep the communication channels open with your fractional employees about these expectations, especially when deadlines are inflexible.
Wasting our time is wasting your money
Our time is your money. Recently I had a client ask me to get their mail. So I walked to their mailbox and grabbed the mail for them. And then I billed them for my time.
Asking your fractional employees to perform tasks that can be done by you or one of your employees will cost you money. Tackling any items that can be done by either you or your employees not only saves the company money but allows your fractional employees to focus on the areas of your business where they will be most impactful. Be conscientious of your requests.
Make your goals known to us
Your internal employees live and breathe your company. They know the ins and outs, the overall objectives, and spend 8+ hours a day working to ensure the success of the company.
Hiring fractional employees without informing them of your business’s objectives and goals is like handing someone the keys to a car without any further instruction: should they drive somewhere? Does the car need to be parked someplace? Are you just trying to hide the keys from your kids? Clients who prioritize their goals and provide their fractional employees with information, access, and resources are much more likely to accomplish them.
If your company doesn’t have a strong strategy in place, your fractional employees can help to implement a formal process with clear goals that align and support it.
We are hired to help your company succeed
Due to the billable rates associated with fractional hires, clients often hold their fractional employees to a higher standard than their internal team. And they should. We are hired to help companies succeed.
As fractional employees, we are hired to improve your company by filling in key gaps. We can equip your company with a team of experts, develop structure within your organization, and most importantly, provide you with a well of knowledge and resources to further drive success.
The decision to hire is a critical step for any business. Fractional hiring gives your company the perks of having top talent fill the vital roles necessary to take your business to the next phase of success. Find out out whether the fractional hiring model is right for your business.