Recent years have seen a wider acceptance of part time executives. Maybe you’ve used them before. These fractional executives, as they are known, are experienced professionals who work on a part-time or project basis rather than as full-time employees. They can work remotely or on-site, depending on the needs of the company, and can be brought in for specific projects.
Many businesses are tightening budgets given the current economic climate. That being the case they still realize their business needed communications expertise. They do not want the commitment of a full-time executive but need strategic guidance. This need could be a one off or an ongoing arrangement, and this is where the fractional leadership model works wonders.
A company can have any number of fractional experts. Many companies use them in finance, HR, IT, and more. However, my focus today will be the rise of the Fractional Chief Communications Officers (CCOs).
Many companies now increasingly turn to Fractional CCOs to help manage their communications strategies, navigate short-term challenges, and optimize for efficiency.
These leaders bring a wealth of experience and knowledge to the table, often having worked with a range of companies across different industries, over a number of years. This enables them to provide an objective perspective on a company’s communications strategy, identify areas for improvement, and suggest potential new approaches.
Being a fractional CCO is different from being a freelancer. When you freelance one delivers outputs. For example, it could be 4 blogs a month for X amount. But, this work is not strategic in nature. For example, a fractional CCO came on board, bringing invaluable expertise and advice on handling a crisis effectively.
I believe that post-pandemic, businesses see the importance of communications. Before the pandemic, only larger organizations would have a “communications” team in place during good times and bad.
It is a shame that sometimes, only in hindsight, a CEO will understand the critical role of effective communication in crisis management for example. Having that expertise on hand (and prepared) or on call even can avert a huge dent to a company’s reputation.
The communications landscape continues to change, and is another element contributing to the rise of fractional CCOs. The area is no longer dominated by traditional PR agencies; instead, businesses are choosing to work with independent consultants or handle their own communications internally rather than contracting with a third party.
Furthermore, these positions are frequently sought after by businesses attempting to scale and acquire momentum during periods of significant expansion. A fractional executive’s skills can be invaluable in filling the gap immediately while avoiding the need for the company to invest in a full-time employee just yet.
If your company is new and growing, using a fractional CCO is a strategic move. I am confident that one could find expertise quickly and give you the necessary support without the long-term financial commitment.
When using a fractional leadership model CEOs should set set clear parameters, primarily that they will focus solely on strategic matters. Why? You want to utilize their specific skills (ideally resulting in demonstrably quicker added value), have them bring a fresh perspective while unencumbered by office politics.
The best results frequently occur when all sides agree on their shared overarching goals and don’t worry about the little things, because the fractional leader’s time is limited. With little historical baggage, fractional CCOs can then focus exclusively on the “how” as opposed to the longer-term “why” objectives.
By providing companies with the expertise they need on a part-time or project basis, fractional CCOs offer a flexible and cost-effective solution to hiring a full-time communications officer.
As the business world continues to evolve, we can expect to see more and more companies turning to fractional CCOs to help meet their communications needs.
Interested in learning how a fraction chief communications officer can help your organization.
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