How Fractional Consulting is Changing the Game for Businesses

Why Hire Fractional Digital Consultants?

The fractional consulting model, where companies hire consultants on a part-time or project basis rather than having full-time employees, has seen a rise in popularity over the last several years. There are good reasons for this trend. Fractional consultants offer a flexible way for companies to access top talent and specialized skills while saving on costs. This on-demand model provides access to expertise without the overhead and management required for full-time employees.

Fractional consulting opens the door for companies to get help on critical projects without derailing focus on core business activities. Consultants can quickly provide strategic perspectives, technical skills, and subject matter expertise to fill gaps and help drive key initiatives forward. The fractional model gives companies options to scale consulting talent up or down as needed.

Access Top Talent

Finding and hiring the best digital talent can be extremely challenging for companies today. The demand for capabilities in areas like digital marketing, ecommerce, data analytics, and more has skyrocketed, while the talent pool struggles to keep pace. This makes it difficult to build an exceptional in-house team with all the required skills.

Fractional consultants, however, are often seasoned experts at the top of their field. They typically have 5-10+ years of experience and are highly specialized within their domain. By tapping into the fractional consulting talent pool, you can build a custom team of the brightest minds to complement your existing staff. You’re not restricted to just the candidates who happen to be looking or local to you. This gives you flexibility to find the perfect consultants to fill strategic capability gaps.

Cost Savings

Hiring full-time employees can be extremely costly for companies, especially when it comes to positions that require niche expertise. The average cost to hire a full-time employee can easily exceed $8,000 USD/month when you factor in recruiting costs, training, benefits, hardware, software, office space and more. With a fractional consultant, you only pay for the time you need them.

Fractional consulting allows you to scale talent on-demand, paying only for the hours and skills required instead of taking on the fixed cost of a full-time employee.

Fractional consulting rates are around $30-$60 USD/hr per hour on average, compared to upwards of $80,000-$120,000 USD/yearly or more for a full-time employee. The flexibility of only paying for the time you use consultants enables significant cost savings.

Various studies have shown that the fractional consulting model can result in 50-80% cost reductions compared to hiring the same skills full-time. The numbers speak for themselves – it’s far more affordable to utilize specialized fractional talent compared to hiring those same skills in-house on a full-time basis. With fractional consulting, you eliminate sunk costs and gain tremendous financial flexibility.

Flexibility

The business landscape is constantly changing and uncertainty is the norm. With fractional consultants, you gain the flexibility to rapidly adapt and optimize your digital initiatives.

Fractional teams allow you to scale talent up or down to align with shifting priorities and projects. When business needs decrease in one area, reduce hours allocated there and reassign resources elsewhere. When a new initiative gains importance, instantly ramp up expertise in that domain.

Access specialized skills on-demand without the overhead of full-time hires. Bring in a fractional specialist for a 6-12 month sprint to complete a complex project requiring niche experience. Or engage multiple fractional consultants with complementary abilities to form a custom dream team for the task at hand.

With an elastic fractional talent bench, you can rapidly deploy the precise expertise your business needs right now.

The modular nature of fractional talent delivers flexibility to constantly refine your resourcing and match it to your organization’s changing needs. You optimize utilization of top specialists while minimizing inefficiencies.

Focus on Core Business

Hiring fractional consultants allows companies to stay focused on their core business and expertise. Managing digital projects and marketing efforts can be incredibly distracting for company leadership.

According to research by McKinsey & Company, executives spend over 50% of their time on internal coordination and control activities not directly related to their main roles.

With fractional consulting, the consultants own the execution of projects. They manage all aspects, from strategy to deployment, allowing company leaders to focus on what they do best – run the core business. Fractional consultants act as an extension of the client’s team, providing specialized expertise so the client team doesn’t get bogged down in the weeds of digital marketing and technology.

Studies show that when companies partner with fractional consultants, they increase focus on their primary business activities by over 30%.

Company leadership’s time is freed up to concentrate on serving customers, developing new products and services, and guiding the organization’s vision. The specialized skills fractional consultants provide lead to a measurable boost in productivity for client teams.

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