Fractional hiring has become a popular recruitment method for all types of organizations to gain quick access to cost-effective leadership and expertise. As a result, Toronto executive search professionals are increasingly fielding requests from organizations that are looking for alternative recruitment options. Companies are finding they don’t always have a need for a full-time employee, but they still require the expertise of one. Enter fractional hiring.
Below, we’ll discuss:
- What is a fractional hire?
- Common fractional roles
- The benefits of fractional hires
What are fractional hires?
A fractional hire is a highly skilled professional who works with an organization on a part-time, contract, or project-based basis. They are an alternative to hiring a full-time employee. They are most commonly at the executive level or have specialized expertise. Fractional hires only work for a fraction of the time or cost compared to a permanent hire, hence the name.
Here is a list of the most common characteristics of fractional hires:
- They work a set number of hours or days per week/month.
- They often support strategic, leadership, or niche functions.
- They may work with multiple clients at the same time. They may not be exclusive to your organization.
- They focus on delivering outcomes rather than clocking in hours.
While all types of companies can use fractional hires as part of their recruitment strategy, it’s very common among startups, government agencies, and non-profit organizations.
Common fractional roles
- CFO (financial strategy and management)
- CMO (marketing leadership)
- Talent Leader (HR and recruitment strategy)
- CTO (technology leadership)
- COO (operations optimization)
- Sales direction
- Product manager
- Legal counsel
- Accountant
- Data analytics
- Compliance
What are the benefits of fractional hires?
Organizations are turning to fractional hires because they offer flexibility, cost-effectiveness, low risk and the ability to gain expertise or quickly fill roles. Key benefits include:
- Access to senior-level expertise without needing a full-time salary commitment.
- Cost-effective talent, avoiding overhead like benefits and long-term compensation.
- Flexible support that can scale up or down as business needs change.
- Lower hiring risk compared to bringing on a full-time executive.
- Expertise on demand for strategic projects or high-priority initiatives.
- Ideal for startups and companies in transition that need leadership, but not full-time roles.
- Fills skill gaps quickly in areas like finance, HR, technology, or marketing.
- Brings diverse experience from working across multiple industries and organizations.
Interested in learning more about fractional hiring and how we can help find your next fractional hire? Contact our Toronto executive search team.
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