Have you heard of a fractional CIO?
More and more recently, firms are recognizing a need for executive leadership and support that spans beyond the concept of traditional “consulting.” At the same time, hiring a full-time executive is not feasible for all firms. And this is especially true for small, budding tech start-ups. The overhead costs are too hefty and the need for a full-time employee simply isn’t there.
What is a Fractional CIO?
In the case of Crimson Technology Partners, this person is a part-time technology executive. They would commit the same executive expertise, leadership and drive for success, as a “traditional” CIO, at a fraction of the cost. A Fractional CIO works a set number of hours per week or month, per company needs.
Who can benefit from this leadership?
Small to mid-sized firms are capitalizing on fractional leadership, either because they can not afford a full-time member or simply don’t need one. At the same time, they benefit from the experience, knowledge and strategic leadership of an accomplished executive. A Fractional CIO typically saves on recruiting costs, minimizes gaps in leadership and can operate on a short-term commitment basis.
What are the benefit for hiring a Fractional CIO?
Many experienced technology executives want the opportunity to support, lead and advance start-up or mid-market firms. However, they don’t want the commitment of a full-time position. They are often later in their careers, with decades of cross-vertical experience under their belts.
A Fractional CIO can have a massive impact on the success and growth of a business. At the same time, they can also enjoy the flexibility and freedom of a minimized work schedule.
What should companies look for in this position?
The requirements of a Fractional CIO inevitably vary, depending on company needs. However, a keen understanding of how to translate a company’s vision into an actionable strategy is essential. They should always listen first, in order to align vision with strategy, and have a rich background in leadership positions, as well as experience in a wide range of industries.
How is fractional leadership different from consulting?
A Fractional CIO sits at the leadership table and is integrated into the team. They are not hired for a specific project or objective — they take a broader perspective and encompass all the normal duties of a “traditional”, full-time executive. At the same time, they are typically less impacted by company politics or conflict and thus more effective in their roles and achieving results.
Ready to learn more about Fractional CIOs?