Right, let's make a start and explore what fractional working really means.

Fractional working has been increasingly popular with companies and executives alike over the past few years.

Fractional work is part-time work, usually paid on a monthly retainer, performed by experienced experts in their field. 

In practice a fractional job looks very similar to a full-time job, except you’re working fewer hours per week for less pay.

Fractional job responsibilities look very similar to that of senior-level full-time employees.

But they cost less and are a great fit for companies who don’t need a full-time senior hire in that seat.

Companies like it because it gives them access to experienced executives that they often can't afford or don't need full time.

I like to think of fractional work as high leverage - there's less time spent but a really significant impact from that time thanks to the experience the fractional exec brings to the table.

But because fractional work hasn't been around for that long, there's often confusion about what it means.

I see that as an opportunity for fractional executives because it allows you to define your version of fractional and work on your terms.

So let's take a minute to explore the differences between fractional, interim, and advisory work.

Fractional work typically involves working in a business one to three days a week. You're often involved in developing strategy and enabling a team to deliver results they couldn't achieve without you.

Most fractional contracts often last from 3 to 12 months. Personally, I don't take on fractional engagements longer than 12 months because I work with rapidly scaling businesses so they often need a full-time COO by the end of my fractional time with them.

I always aim to ensure that no one in the team or in the client company I'm working with can tell I'm a fractional executive from the way I work.

I make sure that I show up as one of the team, part of the business, focussed on both strategy and execution, as well as dealing with the inevitable unexpected curved balls that come with running a business.

So what's the difference between fractional and interim work?

As an interim you're often brought in to make things happen. The strategy has been set and your job is cutting through organisational complexities and getting things done.

It might be a bit of a generalisation, but interim contracts typically last from one to nine months. They are usually going to be full-time or very nearly full-time.

The other type of work that poeple sometimes mix up with fractional work is being an advisor. But they are fundamentally different.

The focus of an advisor is on helping full-time execs decide what to do, not actually getting stuff done. They provide very specific expertise in small doses. An advisor might might be working in the business from one hour to a day a month.

So in one way, “fractional” is a fancy word for part-time. A fractional employee may work 10 hours per week for a company (or 5, or 20). And they’ll often work for multiple companies at once.

We’re conditioned to think that every job function requires exactly 40 hours of output per week. That idea served Henry Ford 100 years ago, but a lot’s changed since. 

With fractional working companies can determine they need exactly 10 hours per week of a COO and get exactly that. Or 20 hours per week of a CTO. Or 12.5 hours per week of Sales Leadership work. 

This is why fractional work is growing rapidly. It means companies can build a more efficient team with exactly the skills and output needed, at a lower cost.  ‍

The term “fractional” implies someone who is an expert in their field. It’s often someone who has leadership and management experience.

There are fractional experts in every field you can name. Marketing, Design, Sales, Engineering, Product, Finance, Operations, People, Data, etc.

Most fractional executives are at least 15 years into their career. They’ve honed their craft as full-time employees, and are now able to drop into a company to add expert value quickly. 

If this sounds like the description of a senior-level full-time employee, that’s the point. The only difference is the work is done fractionally, i.e. less hours per week for less pay.

Since most fractional executives work with multiple clients, although they are paid less per client, their total pay is the same or greater than an equivalent full-time role.

Companies get the benefit of an expert in their field, without having to pay the full salary for it. The fractional exec gets to work with companies that otherwise would never be able to afford them, along with the benefits of choosing who to work for and when as well. 

Remember - regardless of what people might say - the reality is that in traditional employment, value is often measured by presence: how available you are, how responsive, how visible. 

But fractional work is different - you’re not hired to sit in meetings, keep lights on or maintain output. You’re likely to be hired to achieve a result - defined, scoped and delivered with precision. This shift requires a reframing of your own internal value model. 

It’s not about how many days a week you’re available. It’s about what your presence enables for your clients. This took me a while to realise - I approached my early fractional engagements trying to work in a similar way to in my previous roles, but then I realised that I needed to focus more on the value I was adding and prioritise some of the other facets of my former working life.