Fractional Work: What Is It, and Why Does it Matter?

Fractional talent is highly skilled professionals who offer their expertise on a part-time or project basis so companies can access specialized skills as needed. 

Many companies hire fractional because of cost-cutting, flexibility, and increased productivity. With the rise of the gig economy and technology, fractional employment is more common now than ever. 

Read on to learn more about fractional employment, its pros and cons, and why it matters now. 

What Is Fractional Employment? 

Fractional employment is a modern way of working where an individual provides specialized expertise or services to multiple clients or companies on a part-time or project basis. This employment model has become more prevalent in recent years because of the growing demand for flexible and cost-effective solutions for businesses to access specific expertise.  

Fractional employment is a new way of staffing in today’s competitive and ever-changing market. It benefits businesses by allowing them to access top talent without the overhead of full-time employees, empowering workers to have a better work-life balance. 

The Fractional Revolution 

Fractional employment has been growing for decades. In the past, businesses used it for temporary or seasonal workers. However, with changing economic conditions and business needs, companies now use fractional employment as a long-term strategy. 

Fractional hires, like full-time employees, are part of the team but have flexible schedules and work commitments. 

According to the Bureau of Labor Statistics, 26 million Americans worked part-time in January 2021, which is about 18% of total employment. This number has been growing over the past few years and will continue to rise. 

Types of Fractional Workers 

There are several types of fractional workers, each bringing different value: 

• Fractional Executives: Experienced professionals who simultaneously hold executive roles (CxO) in multiple companies. They provide strategic guidance and management expertise to companies that don’t need or can’t afford a full-time executive. Fractional executives can drive a company’s growth by giving high-level insights and leadership part-time. 

• Fractional Leaders: Senior-level professionals who work with companies part-time, providing expertise and guidance in marketing, sales, finance, and more. Fractional leaders help businesses navigate complex challenges and drive strategic initiatives without a full-time commitment. 

• Fractional Professionals: Experts in finance, marketing, human resources, IT, and more! They provide their specialized skills and services to multiple clients so businesses can access high-level expertise without the commitment of a full-time hire. 

• Interim Workers: Essential workers in the finance department that keep the business going. Staffing issues can lead to days you can’t afford going without an account on staff. That’s when interim workers come into play! 

Why Consider a Fractional Employee? 

• Cost savings: One of the main reasons to hire employees on a fractional basis is to cut costs. Businesses can save money by not providing full-time benefits like health insurance, paid time off, and retirement plans to part-time employees. 

• Flexibility: Fractional employment gives companies a flexible workforce that can adjust according to their needs. It can be especially useful for industries with fluctuating demand or seasonal businesses. 

• Productivity: Research shows that part-time workers are more productive than full-time workers due to focused work hours and job satisfaction. Fractional employees are often highly skilled in specific areas and can bring unique expertise. By providing high-level insights and leadership part-time, fractional employees can drive a company’s growth. 

Pros and Cons of Fractional Employment 

Pros: 

• Cost savings for business 

• Flexibility in workforce management 

• Increased productivity and specialized skills 

• It is a good option for individuals looking for work-life balance or having other commitments like caregiving or education. 

Cons: 

• Limited benefits and job security for employees 

• This may lead to higher turnover rates due to a lack of stability 

• It is hard to build team dynamics among fractional employees. 

The Future of Work: Why Fractional Employment Matters 

Fractional employment is gaining popularity as companies and employees seek more flexible and cost-effective solutions. This employment model has many benefits: 

• Flexibility and Work-Life Balance: Fractional employment allows employees to achieve better work-life balance. They can choose working hours and manage their schedules to fit their needs and commitments. 

• Objectivity: Especially for small or midsized family businesses, you may have inadvertently developed practices within their accounting and finance that aren’t in the best interest of the business long term—yet still get engrained into the business. A fractional controller, for example, will look objectively at this, and because they are not full-time and it is a project or on contract, they are more likely to be objective since they don’t have all their eggs in one basket. 

• Access to Specialized Skills: Companies can access specialized skills without the cost of a full-time hire. They can bring high-level skills and knowledge part-time, driving innovation and growth. 

• Opportunities for Senior Talent: Senior talent can work with multiple companies and pursue their business interests. They can leverage their skills across various projects and industries, enhancing their career satisfaction and growth. 

• Outcome-Focused Work: Fractional employment is more efficient, effective, and outcome-focused than hours worked. This shift to outcome-focused work benefits employees and employers by focusing on productivity and value. 

How Can BrainSell Help You Find Senior Talent on a Budget? 

Fractional employment is growing in popularity, and businesses need a way to find and hire part-time talent. That’s where BrainSell comes into the picture! 

BrainSell offers fractional employment solutions that connect companies with highly skilled professionals looking for part-time work. With our large pool of experienced talent, we can find the right fit for your business needs at a fraction of the cost. 

Our team also provides training and support to ensure our fractional employees are integrated into your company culture and workflow. Contact us today to find out more about how BrainSell can help you save costs and get access to top talent for your business.