Do you need top-tier talent? Looking for that perfect team leader to bring a wealth of experience and knowledge and take your business to the next level—and all at a lower cost? While this may seem too good to exist, there is a hiring model that boasts these benefits— fractional recruitment.
Many startups have been turning to fractional recruitment as an efficient, cost-effective, strategic staffing solution to drive growth. With its growing popularity, this “fractional hiring” may seem like a post-pandemic trend, but we at reesmarxGLOBAL have been using fractional recruitment for over two decades to help companies of all sizes to expand or optimize their talent. We even practice fractional employment for ourselves as a company and have seen first-hand how it works.
So what is it?
Fractional recruitment, also known as fractional employment or contract recruiting, is today what freelance work was twenty years ago. With this agile hiring model, you can bring experienced, niched professionals onto your team on a part-time or contract basis. This type of employment is also perfectly suitable for hybrid and fully remote work environments, as top talent can often do much more with less when appropriately positioned and supported, regardless of location.
Why use it?
Companies use fractional employment mainly for its flexibility. From filling in for an existing team member on an extended leave of absence to ensuring new projects and campaigns are supported by specialists with the right expertise, fractional recruiting can fill those holes and all at a lower cost. This hiring method allows your company to access top talent without making lengthy commitments or paying the costly overhead associated with hiring full-time employees; contracts can be tailored specifically to your company’s needs and budget, ensuring you get precisely what you need when you need it. Fractional recruitment also allows you to scale up or down quickly and easily—a comforting advantage in today’s volatile market.
What makes this model even more appealing to companies and candidates alike, especially when staring at an economic downturn, is the mutually beneficial relationship between you and your new employee. Your new hire has the freedom to work with other companies and generate multiple income streams, creating more stability for them during uncertain times, all while alleviating your burdensome overhead and delivering results.
Here’s a tip on how to make the most of fractional recruitment…
Widen your talent pool of skilled executives—consider candidates who may not be available full-time but can offer valuable expertise on a contractual basis. With their unique staffing needs, C-suite positions are especially well-suited for fractional hiring. You can access experienced professionals who are well-versed in their specific industry and can provide specialized skills on an as-needed basis. They will be able to bring fresh ideas and perspectives that may not have been considered before—which can give your company a competitive edge over your rivals.
With these kinds of benefits, it’s clear why experts say the future is fractional.
More than one-third of the US workforce currently freelances, and that number has been steadily climbing over the past decade, according to a 2022 Upwork study. These workers are also increasingly becoming independent contractors by choice; in a 2021 Harvard Business Review report, researchers revealed that 68% of independent contractors now feel more secure working on their own compared to full-time work—up from 53% in 2019 and 32% in 2011.
Experts predict companies will soon begin carving out space for a Chief Outsourcing Officer to oversee this revolutionary workforce strategy. By embracing the fractional hiring model now as an early adopter, your company will be well ahead of the curve for the next age of business. You will see your money go further, your production accelerate, your team scale, and your company progress ahead in its market and into the future with fractional hiring.If you’re looking for an efficient and tactical way to fill your unique staffing needs, contact us at reesmarxGLOBAL and ask how fractional recruitment can benefit your business today and launch you ahead of the curve for tomorrow.