Fractional talent refers to individuals who contribute their expertise, skills, or services to businesses or projects on a part-time, temporary, or flexible basis. A decade ago fractional talent was synonymous with “freelancers” or “contractors”. Then, with the boom of the gig economy, we saw “gig workers” added to the mix with innovative platforms in ride-sharing, grocery tech, and business services.
Fractional workers may seem like a re-brand of contractors, but it’s more than that. Where contractors are generally brought on a short-term basis to fill need gaps, or on a project basis, fractional work has now penetrated the management and C-level space, reflecting a meaningful shift in how businesses are approaching leadership.
Now we’re seeing a rise in the popularity of “fractional executives” thanks in large part to COVID-19, resource constraints, and a general shift in the way we work (i.e. greater acceptance of remote work and innovations in technology). Fractional executives work on a contractual basis at multiple companies simultaneously. The benefits are reaped by both the individual and the company.
According to data from the Bureau of Labor Statistics, temporary business management roles were up 18% from 2021 to 2022 and 57% since 2020. [source]
The rise of fractional talent marks a significant shift in the traditional workforce landscape. As businesses and individuals adapt to the evolving demands of the workplace, the benefits of fractional talent have become increasingly apparent. From cost-effective solutions for businesses to enhanced work-life balance and specialized expertise for talent, this flexible approach to work is reshaping how we perceive employment. Embracing fractional talent not only provides opportunities for businesses to thrive but also empowers individuals to craft careers aligned with their passions and aspirations. Fractional talent is not just a trend but a fundamental component of the future of work. It's a future that offers endless possibilities and a more agile, adaptable, and fulfilling professional landscape for all.
At Fox Fractional, we specialize in senior fractional development staffing. We provide highly experienced professionals for non-profits and post-secondary institutions. These seasoned experts possess a wealth of knowledge and expertise in grants, fundraising, strategic planning, program development, and capacity building. Our group of experts brings a deep understanding of the unique challenges and dynamics of the fundraising sector, enabling organizations to enhance their impact and efficiency in pursuing development goals. We look forward to complementing your vision with our fractional development experts!
