The Fractional Hiring Process
Hiring a fractional executive is different from traditional recruitment. Here's a step-by-step guide:
Define the Role
Clarify what you need: Which function? What problems to solve? What outcomes are expected? How many days per week? This shapes everything else.
Source Candidates
Tap your network, use specialist recruiters, or try fractional platforms. The best fractional executives often come through referrals.
Evaluate Fit
Interview for relevant experience, cultural fit, and chemistry with leadership team. Check references from previous fractional engagements.
Agree Terms
Negotiate days, fees, scope, and duration. Typical engagements are 1-3 days/week for 3-6 months initially, with monthly rolling thereafter.
Onboard Effectively
Even part-time executives need proper onboarding. Introduce to team, share context, set up systems access, and align on first priorities.
Where to Find Fractional Executives
Direct Sources
- Your network: Ask advisors, investors, peers for referrals
- LinkedIn: Search for "fractional [role]" + industry
- Industry events: Conference speakers, panelists
- Content creators: People sharing expertise publicly
Intermediaries
- Specialist recruiters: Focus on fractional/interim
- Fractional platforms: Marketplaces for part-time execs
- Executive networks: The Portfolio Collective, Chief
- Investors/VCs: Portfolio support networks
Evaluating Fractional Candidates
Unlike full-time hires, fractional executives bring immediate expertise. Focus evaluation on:
Key Evaluation Criteria
- Relevant experience: Have they solved your specific challenges before?
- Stage fit: Have they worked at your company stage/size?
- Industry knowledge: Do they understand your market?
- Working style: Can they be effective part-time?
- Chemistry: Will they work well with your team?
- References: What do previous clients say?
Fractional vs Full-Time Hiring
| Aspect | Fractional | Full-Time |
|---|---|---|
| Time to hire | 2-4 weeks | 3-6 months |
| Contract type | Consultancy agreement | Employment contract |
| Notice period | Typically 1 month | 3-6 months |
| Risk | Low (easy to end) | High (costly to change) |
| Benefits/pension | Not applicable | Required |
Contract Essentials
Fractional executives typically work under consultancy agreements rather than employment contracts. Key terms to include:
- Scope of work: Clear description of responsibilities and deliverables
- Time commitment: Days per week/month, flexibility arrangements
- Fees and payment: Day rate or monthly retainer, payment terms
- Duration and notice: Initial term and rolling renewal, notice period
- Confidentiality: Protection of sensitive business information
- IP ownership: Work product belongs to the company
- Non-compete: Consider restrictions on working with competitors
Summary: Hiring a fractional executive is faster and lower-risk than full-time. Define the role, source through network and specialists, evaluate for fit and experience, and agree on clear terms. Typical time to hire is 2-4 weeks.