3 Reasons Why CEOs Want a Fractional Chief of Staff
As the Chief of Staff title continues to become more common on LinkedIn profiles and resumes, we've seen an uptick in the popularity of the fractional Chief of Staff title as well. When it comes to hiring a Chief of Staff, CEOs should consider hiring fractionally for the following three reasons:
You need the immediate leverage but are still scoping out the role: As many CEOs already know, the Chief of Staff role can vary depending on the stage of your business. At an early stage, high-growth startup, the role might fluctuate too much to draft up a full-time job description right off the bat. Bringing in a fractional Chief of Staff helps you gain more clarity on true gaps in your organization. A fractional Chief of Staff helps you take care of the most urgent fires while leaving you with a better understanding of who you want to hire in a full-time capacity.
You want an instant connection to high levels of talent at an affordable price: Oftentimes, a skilled Chief of Staff is able to act as a stand-in for a number of CXO roles. A full-time CXO or Chief of Staff can cost over six figures, and it might not be an investment you're ready to make. Instead, hiring a fractional Chief of Staff will give you access to a highly talented and experienced individual without the need to include things like benefits or equity. Fractional Chief of Staff candidates are a great solution for you to spend less in the short term as you continue to scope out the role.
You want someone who has solved these problems before: It takes time to build the relationship between the Chief of Staff and principal. Oftentimes, this is the first time a Chief of Staff has stepped into the role. With a fractional Chief of Staff, you can count on the person having consulted on similar projects previously. For instance, if you're struggling with annual planning, you can hire a fractional Chief of Staff who specializes in it. When you are ready to bring in a full-time Chief of Staff, your fractional CoS can pass the reigns so your new Chief of Staff isn't starting from scratch.
When it comes to hiring a right-hand person, you don't always have to hire full-time right away. Try things out with a fractional Chief of Staff, get the results you want, and then recalibrate and move forward from there!
Whether you are interested in hiring a fractional or full-time Chief of Staff, we can help. Not sure which is the right fit for your organization? Click here to learn more and set up a discovery call.