Working With a Pool of Fractional Employees
Working with fractional employees has emerged as a leading approach to workforce management in today's ever-evolving digital marketing landscape. Rather than relying solely on full-time staff, companies are increasingly tapping into the talents of fractional employees, who provide specialized expertise and services on a part-time or project basis.
This innovative model allows companies to access a diverse range of skills without the commitment and overhead costs associated with traditional employment arrangements. By leveraging this flexible workforce, digital marketing agencies can optimize their operations, adapt swiftly to changing market demands, and achieve greater efficiency and productivity.
At DOT & Company, we understand the digital marketing industry—and how important it is to have Account Managers on your team as dedicated liaisons between your agency and clients. We also know how beneficial it can be for agencies to hire external Client Account Managers (CAMs) to handle their accounts on an as-needed basis. Hiring third-party account management services part-time allows marketing agencies like yours to benefit from highly-qualified experts while saving on the costs of having full-time Client Account Managers in-house.
Here's our quick guide to working with a pool of fractional employees.
Fractions!? Fractional!? What Is A Fractional Workplace?
Also known as fractional teams, a fractional workplace focuses on hiring top-level subject matter experts to perform key business functions.
In a fractional workplace, some members of the team are part-time, temporary, casual, freelancers, or contractors. Agencies may opt for an operational base of permanent staff, and outsource a portion of their Human Resource requirements to fractional employees.
Imagine a team of dynamic experts, each with their unique strength, working in tandem towards the same goal. That's what it's like when agencies tap into the incredible force of fractional employees!
These contractors are like chameleons, seamlessly shifting between multiple portfolios for the same company or even across different organizations. With their super-flexible schedules, they can conquer both their personal career goals and their client's needs with style and accuracy.
How Fractional Employees Work In The Arena Of Digital Marketing
Digital marketing agencies have discovered a clever way to cut costs without sacrificing the expertise of Client Account Managers: fractional account management services!
These services typically come with flexible payment options, such as an hourly rate or a set monthly fee or retainer. For hourly rates, fractional Account Managers step in to tackle unexpected challenges or handle complex requests as they arise. On the other hand, monthly retainers or fixed project rates provide a more consistent level of service, with Account Managers dedicating the same amount of time each month to meet ongoing business needs.
With fractional account management, digital marketing agencies can enjoy the expertise and support they need, precisely when they need it, all while optimizing their budget and resources.
Now, let's get into the good stuff, what are the benefits of hiring fractional employees?
Business Continuity and Sustained Growth
In the early stages of business growth or times of high demand, permanent employees are often left to deal with the strain and burnout that comes from an increased workload. This can cause unwanted stress in the workplace, friction between colleagues, and even missed priorities in the staff’s regular workload. By hiring fractional employees when you need them, you can effectively manage business operations, continue to grow your agency, and allow your permanent staff to maintain a reasonable workload.
Flexibility
The ability to quickly scale your staffing up or down based on client needs or workload demands is the beauty of fractional employees. With fractional employees, you can ensure your digital marketing agency is always ready to meet your clients' demands without the added cost and commitment of hiring full-time staff. This becomes especially valuable for seasonal companies.
Specialization
Fractional employees possess specialized skills that would typically be costly to maintain through full-time hires. By engaging them on a project-by-project basis, you can tap into their expertise and propel your company toward achieving your objectives with finesse. The diverse backgrounds and unique skills enhance your versatility, enabling you to take on a wide range of projects and cater to a diverse client base.
Cost Savings
The operational costs of traditional employees are wildly more expensive than hiring fractional workers. As fractional employees are essentially contractors, you save money on payroll taxes, onboarding, certification, and other additional benefits. The biggest cash saver comes from the hour-by-hour billing—paying only for the active time the fractional employee is involved in the project. Win-win!
Remote Workforce
As agencies adapt to an increasingly digital marketplace, they are leveraging fractional employees that live anywhere! Working with fractional employees who work remotely offers the chance to hire the exact resources you need to solve the exact problem you're having. Being able to draw from the global pool of fractional employees allows your business to curate talent based on their skill set and availability—instead of their location. Including more remote workers is also a great way to save on capital expenses for office space, technical equipment, and utilities.
Productivity Levels
Prepare for a productivity boost like never before! Tapping into the diverse pool of fractional employees, you can ensure that you're only paying for the work that's actively being done, unlocking increased productivity (and cost savings).
Plus, unlocking the wide variety of skills and expertise within your fractional workforce expands your agency's capabilities, allowing you to say an enthusiastic “yes!” to a wider range of projects and clients. This opens the potential for revenue growth. Say farewell to idle hours and hello to a realm of heightened productivity and thriving business opportunities!
Will Fractional Employees Work For You?
Fractional employees are a popular option for growing established marketing agencies. Before you outsource work to a fractional employee, here are a few key factors to consider:
Do you frequently have several complex projects active at the same time?
Do your projects require subject matter expertise?
Does your digital marketing agency experience busy and slow periods during the year?
Is your business growth limited by high full-time staffing costs?
Do you often need experienced staff on short notice?
Fractional Account Management With DOT & Company
For digital marketing agencies, especially for those growing quickly and looking to scale, fractional account management provided by DOT & Company just makes sense.
With our experience in digital marketing combined with our commitment to upholding client account management best practices, we treat each of your clients like our own. Our fractional account management approach means you get the dedicated experts assigned to your client accounts—with the flexibility and cost-savings of contracted services.
Schedule a discovery call today to learn how DOT & Company’s full-service Client Account Managers will give your clients the attention they deserve—and give you back the freedom to focus on scaling your agency.