We’re reaching a pivot point in the careers of many technology executives when chasing the title is no longer their goal. Their list of accomplishments is impressive and their experience invaluable. However, the burnout of running 24×7 IT and security operations is real.

These technology executives may be thinking – “How can I best leverage my experience but also begin to support the next generation of IT leadership?” For many, the answer is becoming an exploration of the world of fractional or virtual executives. If you spend any amount of time on LinkedIn or other sites, you’ll see the number of people advertising fractional CTO/CIO/CISO services is only increasing. Sometimes you’ll even see it as vCTO or vCISO – where the v stands for “virtual.”

While the world of “temp” or “interim” executives is nothing new, the idea of a fractional executive is something different than these traditional employment models.

A Partner Who Knows What It Takes

Many will say “It’s just a different term for consulting.” While some features of a fractional executive may be consultative in nature, the service is more than just a consultant and more than an executive coach. A fractional executive should be viewed through the same lens as a full-time executive. They are part of your team and aligned with your mission, but just for a portion of the day, week, or month.

The fraction in fractional refers to the amount of time you need from them, not the amount of experience or value they bring to an organization.

The role of a consultant, a contractor, and a fractional executive at a company can be quite different. A consultant is normally hired when you need specific expertise around a problem. They come in, evaluate your current situation, and help you design the solution and create a plan to move forward. Consultants often just help with strategy but are gone by the time you’re implementing it.

A contractor is hired to do specific tasks. Like a consultant, it may be special skills you don’t have internally, but unlike a consultant, it’s a tactical role. They’re either project-based or staff augmentation – just adding more hands to whatever work is already in progress.

The fractional executive is there to help set your strategy and then remains on board to help oversee execution. Their role is the same as a full-time CTO or CIO, but instead at a fraction of the cost.

Fractional executives may bring in new skills, but typically in ways that are aligned with your overall objectives. As a senior technology executive, they’re good at developing sound strategies but also grew their career in the trenches, and have seen what it takes to get things done. This makes them an excellent partner – not just setting the strategy, but also seeing it get done.

Challenges and Considerations

A good fractional executive becomes part of the team. The difference is they are working with more than one company. Depending on the size of the engagement, it’s typical for a fractional executive to have 3 to 5 different clients at a time. The details of the agreement help determine how much time each client gets. Typical ranges are from 8 to 20 hours a week (sometimes measured by the month or quarter instead). The amount of time depends on what the company is willing to pay and how much involvement they need. Are they at a critical juncture needing a lot of time to develop a strategy? Or is everything at a steady state and they just need the executive to weigh in on course corrections?

Leaders today who are thinking about undertaking a fractional role must decide how comfortable they are dividing their own time across multiple clients.

Context switching can be difficult and it’s critical to manage conflicts of interest. A smaller number of clients can help keep this simple, but also increases the risk of gaps when there are no clients. While a fractional role is not typically short-term, it is also not “permanent”, and the company and fractional leader may decide to reduce the number of hours or even pause the engagement.

If the fractional executive depends on this as their primary income, it can lead to more personal stress than a typical executive role.

Expanding Impact and Personal Fulfillment

Fractional executive roles can be more rewarding as well. You can find your impact to be broader than when you had a single company to worry about. There are more teams, more opportunities, more markets, and more technologies to learn and contribute your knowledge.

The executive’s knowledge and impact are amplified through each of their clients. They can also choose to work with a portfolio of clients aligned with their own personal interests as well. This can include non-profits, who often struggle to afford the executive talent they need. The social value of a fractional executive role can be very attractive to those who have spent their time in the corporate world and are now looking to make their mark on society.

The Wrap

The emergence of fractional executives is an exciting change. It brings new opportunities to businesses who could otherwise not afford high level talent. Likewise, it brings new opportunities to the individuals who have spent decades of their careers with a handful of companies.

It opens opportunities to change their personal impact – not just through the next generation of leaders but also through the types of organizations they choose to serve. It is legacy building for the executives and a strategic benefit to companies who leverage the model.

While the time spent is only a fraction, the value to the executive, their clients, and the world overall is far greater than the sum of these parts.