Fractional Hiring”
It`s not just Fortune 500 companies that bring in expertise for a part-time need or on a project basis. Small businesses can also profit from this “Big Business” strategy. The motivation can be a need to implement major operational and technology re-structuring, or it may be to offload necessary business administrative and support functions.
See this article: “Fractional hiring is a strategic approach where businesses engage professionals part-time or on a project-specific basis…” (How fractional hiring creates a paradigm shift in the workplace)
If some necessary tasks are not a part of the company`s core expertise and mission or if it is important to “keep the ship sailing” while changes and improvements are made, then this Division of Labor approach to staffing up is worth considering.
Any enterprise large or small might consider offloading their bookkeeping and financial reporting to a specialist. Or, they may want assurances that they are getting the most benefit from their investments in computer and information technology.
As a business grows, they will want to benefit from “Business Intelligence” and “Data Analytics” that extracts actionable insights that go beyond what is captured in the monthly P&L, Balance Sheets and cash flow reports.
Larger businesses will want to shop for “best practices” when it comes to customer contact strategies. They will want the best tools for recalling past interactions with customers and for creating a plan that anticipates and serves those customer needs.
Finally, established businesses may have concerns that they are under-performing their potential and they want to make rapid transformational gains – we call that Operation Improvement.