More about the “fractional executive”
Focus your expertise.
By Soozy G. Miller, CPRW, CDCC, CDP
In a previous article, I talked about the fractional/temp executive. The idea of a temp/fractional/interim executive is a relatively new one, and a sign of some of the changes in C-Suite and leadership hiring.
Hiring for executive leadership (Directors, C-Suite, etc.) is sometimes a bit different now. Not for all jobs and all companies, but for a lot of companies. Traditionally, leadership was based almost entirely on longevity and loyalty; the person moved up the ranks to the top in 10-20 years. Hiring from within was the priority, sometimes even their right. However, due to infinite workplace issues, followed by complications from COVID, which then led to The Great Resignation, there are so many issues to address, and both employees and leadership are looking for more suitable working conditions and better work/life balance.
People ask me, “Same as 9/11, right?” No, different.
When 9/11 happened, people questioned their purpose, their decisions, and their lifestyles. Women who thought they didn’t want children had babies. People picked up and moved to their “dream” location and worked there. One young man I know went from being a very successful stockbroker to a full-time yoga and meditation teacher after 9/11.
The Great Resignation has different causes. 55 million people quit their job in one year for a few reasons:
They wanted to stop working where they were working.
They worked crappy hours without the extra pay.
They wanted more vacation time.
Maybe the ping pong table and free lunches weren’t enough anymore to get them to drive an hour to work every day.
The biggest complaint I hear from employees who quit their job isn’t even about the salary; some people are happy making less in a more positive work environment. By far, the biggest reason people have for quitting their job is poor management. A lot of people quit their jobs without any job prospects because the work culture was that oppressive to them.
What does all this mean, how does this apply to leadership hiring, and why do you care?
As a leader, you will be called upon to address complicated issues. And make no mistake, this is not simply a Human Resources issue. Do not only look to HR to solve this one. Quitting is a bottom-to-top multi-department, matrix issue that affects and will continue to affect all employees, globally.
So you, as the leadership, will see a broad spectrum of specific workplace issues, some that have never been seen before. That's why some executive hiring has become more project based. As in: Come in, fix this problem for us, and then you can go.
Case in point is this excellent short LinkedIn article, Big Opportunity, Small Window, about exactly how small a window of opportunity can be for an executive position.
Hiring in general has become more focused, more about solving specific problems, and more value-based. Therefore your value-add, expertise, and impact have become that much more important. For example, if there is a company out there that needs to fix and overhaul its procurement processes, then a procurement expert or a Chief Operating Officer who specializes in procurement who is interested in the position would want to show his/her unique actions that improved procurement for one or more companies.
Right now, you don’t want to come across as that COO or CEO who “does everything.” For example, Need to overhaul your operations? I can do that. Need to overhaul your finances, too? I can do that, too. That won’t necessarily work very well in today’s job market. Make sure your resume is clear about your focus.
As a result of this shift, your resume is going to look different that your parents’ resume, because your resume is going to show less longevity and more impact and more value-add during those shorter stints. Your resume will also look different than your colleagues’ resumes, especially if they prefer more traditional roles. Don’t be afraid of this.
As the author of that LinkedIn article says, “The odds are more likely that an opportunity will show up when you are not even looking.”
Let’s try to be prepared, okay?
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Better job. More pay. More control.
For a free resume review, please contact us at Control Your Career!