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HBR – Organizations aiming for growth often face hiring and retaining senior talent due to challenges and costs, especially for small and medium-sized enterprises (SMEs) that may struggle to afford. To address this, a new trend of hiring fractional leaders, with 20 to 30 years of experience, has emerged. They offer leadership on a part-time basis to multiple organizations. Enterprises benefit from senior leadership without the commitment of a full-time hire, while senior executives get career flexibility.
This trend, fueled by the pandemic, technological advancements, and the normalization of remote work, has grown significantly. LinkedIn data shows a rise from 2,000 fractional leaders in 2022 to over 110,000 by early 2024.
By Tomoko Yokoi and Amy Bonsall | JUL 2, 2024
Read the original article at Harvard Business Review
