There are constant growing pains when it comes to increasing the value and profits of your business. Whether you are a small to medium-sized business or a large multinational corporation, the challenges can still be the same.
You need resources to manage teams, organize your day, help with networking, do market research, etc. All of this can be daunting, and it may seem like you don’t have enough time in the day to finish it all. This is where a fractional executive assistant can be vital to a growing organization.
Let’s look at the top 10 reasons you should hire a fractional executive assistant.
What Is A Fractional Executive Assistant?
A fractional executive assistant is just what it sounds like - an executive assistant hired to do work for a “fraction” of the time, hence being able to to pay them for a fraction of the cost of a full-time assistant.
The right fractional EA can act as consultants to a business and don’t require any long-term contracts or expensive salaries. Before running out to hire one of these valuable experts, let’s look below at the reasons your company should hire a fractional executive assistant.
Related Links: The Importance Of Having An Executive Assistant For A Start-Up
Top 10 Reasons To Hire A Fractional EA
There are several reasons why a fractional executive assistant might be the better fit for your company. If you are thinking about hiring one, let us help you think through the process of why and how it can help.
1. No Budget To Hire A Full-Time Executive-Level Employee
It’s not cheap to hire a full-time experienced employee, and you need these because of the experience they bring to the table and their ability to take your business further.
When you’re a startup or a small to medium-sized business, this can put a significant strain on your budget, and it simply may not be feasible at the moment. Hiring a fractional executive assistant is a great way to get the experience and support, and make it fit within your budget.
2. You’re Too Small to Offer a Full-Time Position
Your company might be in the start-up stage, or still a small business, and you may be feeling that you don’t have enough work for a full-time executive assistant to come in and keep busy. This is precisely what fractional executive assistants were made for.
They have the expertise and knowledge to complete and fulfill all of the work you need but at a fraction of the time and cost of a full-time EA.
3. You want experienced leadership but need to use your budget to hire primary workforce employees
Many businesses use the majority of their financial resources to pump out new products and fulfill current orders. You know that you need more experienced leadership to grow the business, but it’s not possible because your budget is already allocated to keeping your company afloat and protecting your burn rate.
Hiring a fractional executive assistant for a fraction of the cost could solve your problem. These highly-trained and experienced assistants can lead your team and bring new ideas to the table regarding day-to-day operational efficiencies.
4. Help With Achieving The Vision For Your Company
You’ve probably had a vision of where your company would go since the first day you started. You may have gotten bogged down with the day-to-day operations and tasks without realizing your skills are at their peak, and you need some help on how to reconnect with that vision.
Fractional EAs can help by providing guidance and by helping you get back on track. Reducing workload, providing you with coaching, and growing your skill sets can all help you become a better leader for the future growth of your company.
5. Fractional EAs Have The Expertise To Take Your Business To The Next Level
Fractional EAs have extraordinary skills that can help take your business to new heights. They may have skills that you lack, such as proofreading presentations, playing calendar Tetris, thinking 3 steps ahead of every meeting, chasing down other SLT members for action items, planning events, research, bookkeeping, social media, generating compliance documentation, etc.
These aren’t any fun, but they are necessary for growing the business. It can be hard to delegate at times, but you will thank yourself after you realize just how integral the fractional EA will become for your business.
6. Keeps Executives On Task
Fractional EAs are fantastic at keeping executives focused and on task. Scheduling meetings, conference calls, lunch appointments, and special events can all be made by a fractional EA.
7. Assist in Hiring, Onboarding, and Training New Employees
Hiring new employees can take a lot of work and energy from your team. Even though your fractional executive assistant is remote, they can help in the initial vetting process of receiving applications, screening, and setting up phone interviews.
Onboarding is an essential part of an employee’s success. Not giving your new remote employees enough information on the company mission, values, expectations, policies, etc., will set them up for failure before they begin.
You can utilize an executive assistant to help facilitate the onboarding process by developing employee handbooks, putting together training materials, performing one-to-one meetings during the initial onboarding phase, helping to gather pertinent information for benefit setup, etc.
Fractional EAs can also help with setting up team meet and greets, helping with all new employee documentation, sending out new technology if necessary, and even making sure the new employee has a friendly face to turn to while getting acquainted with the business.
8. Helps The Company Grow Faster
Fractional Executive Assistants can help achieve company growth much quicker. As strategic business partners, they can provide a critical operational lens and help businesses to hone in on key priorities. Due to their experience, they are also able to provide important insights on what is most valuable to an organization at each stage.
9. Reduces Workload
Owners of startups and large companies share the never-ending task of carrying large workloads and the pressure of meeting deadlines to improve bottom-line revenue for the company.
A fractional EA can significantly help take some of the workload off of the C-level executives and owners of smaller companies to get more done during business hours.
10. Improvements in Communication
EAs work a lot in inboxes and improve overall team communication. An executive assistant can keep an email inbox under control to give clients a faster response, which enhances the customer experience and can help retain people. Having an EA communicate can help with managing teams by putting together meeting invites and answering questions that come in via email from members of the team.
Related Links: 5 Things To Consider When Hiring An Executive Assistant
As you can see from this article, there are many benefits to hiring a fractional executive assistant for your business. Whether you are a small business or a large corporation, the work can be just as stressful.
Hiring a fractional EA can be the next best decision you make for your business. It can give you back time in your day to focus on other high priority items, and can bring your company growth to new heights.
For more information on hiring a fractional EA, contact us today for a consultation.