If you're a founder or a leader, you've probably struggled with the challenge of finding high quality talent at an affordable cost.
That's where fractional executives come in.
Fractional executives can help solve your staffing problems while keeping costs down. But, as with any other colleague, there are certain steps that need to be taken before they can provide the value they were hired for.
1) Hiring the Right Person For The Job
When you’re hiring a fractional executive, it’s important to have a clear job description in place. This will make it easier for you to choose the right candidate, and it will also give your new hire a clearer idea of what their responsibilities will be.
You should consider the following factors when choosing a fractional executive:
2) Establish Clear Expectations and Deliverables
Fractional executives are often tasked with leading an initiative that requires a high level of flexibility in order to adapt to changing circumstances. Their time is also limited – it's important that their role is clearly defined from the beginning so that you each know what needs to happen and how much time you'll have to do it.
3) Maintain Clear Lines of Communication
The more easily you can convey what you need, the more efficiently your business will run. On the flipside, an executive who has good communication skills will quickly learn how best to work with others, which will help them be successful in their new role at your company.
4) Establish and Track Progress Clearly
You should set up a system that allows you to measure progress and the success of your business, so that you can make decisions based on this data.
The best way to do this is by tracking metrics over time. This will allow you to see how your business has improved over time, and it will also help improve your own performance at work so that when it comes down to hiring someone else or working without one again in the future, they know what they're getting into beforehand!