Fractional. Part-time. Temporary. They all refer to the same type of commitment to provide skills and / or services to a company in exchange for pay. Almost all companies use temp and part-time employees to supplement their full time staff during periods of higher demand or to support short-term projects. Why then, don't more companies utilize part-time (fractional) support for management needs?
In my experience, most small to mid-sized companies (and especially those which are family or original founder led) do not have the strong business management expertise that is necessary to be successful in today's highly competitive world. This is not a cut on them at all, but simply an observation that they have been fully involved in their industry - in their business for much, if not all, of their professional careers. What they're missing is the large company - global mentality - that comes from someone who has worked in billion dollar global companies.
Sure - they could hire an executive for their staff that possesses these skills and background; however in most cases, they can't or don't want to or don't need to commit to a $300k-500k addition to their payroll.
The logical solution is to 'rent' this executive who brings the large global company experience and knowledge to help level-up their teams and their operations. Depending on the situation, the fractional executive may need to be engaged for 3-6 months or perhaps only a couple of weeks at a time throughout the year. This should cost the company less than $150k (and as little as $25k) depending on the needs - all without the cost of a long-term commitment or expensive benefits packages, etc. During these engagements, the fractional exec will evaluate, analyze, train, and support the growth of you and your teams. Starting to seem like a pretty good deal, huh?!
If you haven't used a consultant before, now is definitely the time to give it a try. There are many significant changes happening in the U.S. business world right now and major decisions need to be made that will impact the health of your company and your bottom line for years to come. We're just ending Q1 - it's not too late to still have a positive impact on 2025 results.
Why wait? Reach out to The Method Solutions today and find out what you've been missing.