As more professionals explore alternatives to traditional full-time employment, one option they may come across is fractional work. Chi-Chi Egbo, a certified career strategist and founder of WorkThrough, says fractional work allows experienced professionals to split their time between multiple organizations while taking on leadership roles rather than day-to-day tasks. “Fractional work is when a highly seasoned professional, perhaps about 10 to 15 years minimum experience under their belt, goes in and works with a few companies at once,” she said in an interview with CTV Your Morning Tuesday. “For example, a marketing executive might spend 10 hours a week with one company, another 10 hours with a second client and 15 hours with a third, helping lead teams and build departments.” What makes fractional work different? Although the terms are sometimes confused, fractional work is different from freelance, consulting or part-time employment, Egbo said. Freelancers and consultants often work on projects or provide recommendations before moving on, she explained, but fractional leaders remain embedded in an organization, helping execute strategy and lead teams over a longer period. “A fractional leader is doing all that, plus leading out the team, building out the department,” she said. Egbo points to startups as one example. A growing company may bring in a fractional marketing or human resources leader for six months to establish a department before deciding whether a permanent hire is needed. Part-time work also differs because it typically focuses on day-to-day responsibilities rather than leadership. “You can work part-time as a barista, a sales associate, and a coordinator somewhere, but you’re doing the day-to-day execution, admin, talking to customers,” Egbo said. “You’re not really owning the business outcomes and the strategy.” Who is fractional work best suited for? Egbo says fractional work is generally intended for experienced professionals rather than those just starting their careers. “When you’re a fractional worker, think of yourself as a fractional leader,” she said. “If you want to be a fractional worker, you have to think about have I led teams before and how deep is my experience.” The model may also appeal to professionals who have experienced layoffs or are looking for more control over their careers in an uncertain job market. What are the benefits? One of the biggest draws is flexibility. Egbo says fractional workers have more control over their schedules because they aren’t tied to a single employer’s working hours. “You don’t work for your company, your boss’ hours. You set your hours, so you might work five hours with one company on certain days of the week or might be flexible,” she said. “The other benefit is autonomy,” Egbo noted, adding that professionals also have opportunities to broaden their networks while working across different organizations. Companies can benefit as well by accessing experienced leadership without making a long-term commitment. “The company gets to leverage your expertise and your leadership, and you get to have that autonomy and a higher rate of and broaden your network as well,” Egbo said. What should professionals consider before making the switch? Egbo cautions that fractional work isn’t for everyone. She says professionals should first assess whether they have the experience needed to lead teams and deliver strategic results. They should also prepare for fluctuating income. “The income shifts. I might say it could be lucrative, but not day one. There are months that are slow, months that are better. So do you have a cushion?” she said. Building a client base is another consideration. “Also consider how you’re going to get clients. What’s in my network? Who’s in my network? Am I going to rely on referrals?” she noted. Finally, she says prospective fractional workers should remember they are effectively running their own business. “Yes, you might be a seasoned HR person … or a marketer, but do I want to do the accounting, the marketing, the sales? Those are other business functions for your business because essentially you’re building a business,” she added.
