By Rich Bond
It seems more and more business owners are hiring Fractional CFOs. Maybe that’s because it’s so hard to find and hire good people. Or maybe it’s because companies are trying to save money any way they can.
Fractional CFOs are usually older, more experienced executives who are now offering to work part-time or on a contract basis. “Wow, what a bargain!” you may think. “I can get all this experience for a fraction of the cost!” But will they really save you money in the long run? Will a part-timer, who may not be able to find a fulltime job, actually have the ability to become a strategic asset on your management team? To me, it’s a fad, with the companies almost acting like lemmings – going with the flow without thinking through the full ramifications.
What is your opinion? I’d love to hear it. Email me at: firstname.lastname@example.org.