1. Myth: Fractional Executives Lack the Same Commitment As Full-Time Executives
Myth: Fractional executives are not as committed to the organization’s success as a full-time employee.
Reality: While it is true that fractional executives often work with multiple clients, they understand the importance of consistently delivering tangible results. While part-time, these dedicated professionals bring focused expertise from various industries that allows them to solve complex problems with a fresh perspective to every engagement. They understand that their reputation and future opportunities depend on delivering results.
2. Myth: Fractional Executives Are Temporary Solutions
Myth: Fractional executives are only useful as a short-term band-aid.
Reality: While interim executives are a temporary solution, fractional executives focus on building long-term relationships with organizations. These experienced leaders can help uncover roadblocks, mentor internal teams, and implement strategies that create a lasting impact on the organization. With flexible agreements, companies can quickly increase support as needs change, making fractional executives a sustainable option no matter the organization’s current stage.
3. Myth: Fractional Executives Don’t Integrate With Existing Teams
Myth: External leaders are unable to fit into company culture.
Reality: Fractional executives are skilled adapters who can quickly establish rapport with internal teams. They use vital emotional intelligence to navigate various environments and rely on your team’s knowledge to truly understand the organization. These tested leaders can bridge gaps within the organization and provide unique insight that aligns with company goals and values. The best fractional executives make you forget that they are not permanent team members,
4. Myth: Fractional Execs Are Just Consultants with a Fancy Title
Myth: Fractional Executives are just consultants by another name.
Reality: While traditional consultants offer advice and an action plan that companies implement, fractional executives take a more hands-on approach. They assume leadership responsibilities and are accountable for outcomes, working closely with the existing internal team to achieve company goals.
5. Myth: Hiring Fractional Executives Is More Expensive Than Hiring Traditional Full Time Executives
Myth: Fractional executives cost more to hire than full-time executives.
Reality: Hiring a fractional executive saves companies the investment in onboarding and infrastructure expenses. These experienced leaders work from their laptops, reducing overhead costs. Companies save on salaries, benefits, and other overhead costs by working on a contract basis. Small businesses can benefit from the experience of senior leaders for a fraction of the price that comes with conducting a traditional search for a full-time executive. Additionally, fractional executives offer flexibility, allowing organizations to scale their services up or down based on needs and budget every quarter.
The Suite Leap Difference
Embracing fractional leadership as a solution for your small business will uncover new opportunities for growth, innovation, and success within your organization. Our unique network of Suite Leaders across every discipline (CFOs, COOs, CMOs, CHROs, CSOs, COS) work to build relationships within the Dallas Fort Worth business community to ensure we offer your organization everything that it needs to grow.
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