For many businesses, fractional roles have become a popular way to keep capabilities on staff without having to pay for full-time positions. In fractional roles, an individual works part-time with the company in a dedicated function. This can provide valuable expertise without an increased overhead and is becoming more common in small and medium sized businesses.

The roles that can be filled on a fractional basis vary depending on the needs of the organisation but could include a CEO, COO, CFO, CDO, CPO, CTO or Head of (department) - any of which could bring specialised expertise or strategic guidance to the business. The beauty of fractional roles is that they are tailored to suit the specific goals and resources of the business while also offering flexibility as they can be ramped up or down according to changing needs.

Not only does this allow businesses to offer experience and knowledge without taking too much strain on budgets and time - it also gives individuals an opportunity to pursue multiple projects at once as well as broadening specialisms across sectors. With more companies using interim slots for special projects through full-time hires, there's never been a better time to explore fractional options when looking for diverse skillsets.

The difference between fractional and part-time

With the recent redundancies to hit the technology sectors — fractional roles are becoming more and more popular as companies recognise the value in engaging with specialised contractors or professionals on an interim basis. This type of role is somewhat different from a part-time employee, though. Part-time employees usually carry the same benefits, pay structure and long-term working relationship like full-time staff, but fractional roles typically involve contractors working on short to medium-term contracts or independent consultants providing strategic business  advice for a fractional amount of time.

A fractional role provides organisations flexibility to find the right talent for their needs without having to make a long-term commitment or increase HR headcount. It also helps keep costs down by not having to pay full-time salaries, benefits, or other expenses related to year-round employment. Organisations can save on administrative costs while benefiting from specialised expertise that may otherwise be available only at a much higher cost. As such, it can be an attractive option for those companies with tight budgets who need access to specialised skills on an ad hoc basis.

At its core, a fractional role can be thought of as similar to a part-time job; just instead of one job with multiple responsibilities and duties in a specific area of expertise being shared by two or more people throughout the work week, there is one person who works independently with defined responsibilities that are completed during their contract period. As such, it’s important for employers and potential employees looking for these types of jobs to understand the differences between a part-time job and a fractional role in order to set up collaborations that best suit them both in terms of workload demands and expectations from each other.

How important is it for them to have subject or knowledge specialism?

Fractional roles are been more realised in the business world, as they allow organisations to draw on the expertise of external specialists while balancing costs. While most fractional roles involve fewer hours than a full-time position, individuals taking these roles need to possess specific knowledge and understanding of the role’s core design function. In many cases, this might include managing teams; understanding processes; developing systems and controls; or curating strategies for success.

The importance of subject specialism when it comes to fractional roles cannot be overstated. Most of the time, those hired for these positions need to hit the ground running and understand how their role fits into a larger organisation without requiring additional training or resources. For businesses seeking a cost-effective solution to growth or staffing shortages, fractional roles can provide a great option – but only if they are filled by experienced professionals who can quickly adapt to the organisation’s needs within their areas of expertise.

Beyond just possessing technical knowledge, fractional employees also need team building and diplomacy skills in order to effectively lead an organisation into success. Good interpersonal skills are critical for this type of role, as breaking down teamwork barriers is often an important part of making collaborations bear fruit for all stakeholders involved. Beyond softer skills, having an understanding of project management could be beneficial for fractional employees looking to make an impact on their workplace culture in a positive way. Not only will they have experience in project management, but it will allow them to get off on the right foot from day one with their new team, but it can also help with future collaborations thanks to improved coordination and planning processes that they bring with them over time.

With all these factors taken into consideration – technical expertise, strong interpersonal communication ability and good organisational diligence – organisations are more likely than ever before to benefit from embracing fractional roles.