Since the financial crisis, temporary hires have increased by more than 50%, owing in large part to companies wanting to maintain as much flexibility as possible as the economy lumbered along. Given this trend it’s no surprise, therefore, that many companies also leveraged fractional C-Level executives (like those at my firm, TechCXO) to help guide companies forward.
This outstanding post from HBR outlines succinctly the way permanent temporaries and fractional executives are impacting workflows, business processes and internal initiatives. Work is organized around projects much more than before to take advantage of strategic human capital at just the right time. And new on-demand video and audio conferencing technologies make many physical offices an outdated if not exactly archaic luxury. For tech companies that pivot on a dime and must react to changing market forces with near-clairvoyance, the fractional C-Level exec can be expected to gain even more traction in the future.
The tweakonomics reference is really a hat-tip to the ways in which businesses have transformed into agile, nimble enterprises — building and fixing along the way rather than waiting for perfection to rear its rare head.
If choosing talent is essential to business success — and it is — why not maintain as much flexibility as possible to ensure optimum response to changing conditions.
Ping me if you’d like to chat about this new and fast growing phenomenon of fractional executives.
Again, here’s a link to the HBR post.