CollectivNews
Welcome to a monthly round-up of information relevant
to comms professionals and everyone interested in the fractional model.
August 2024
Harvard Business Review Article:
“How Part-Time Senior Leaders Can Help Your Business”
Hats off to Tomoko Yokoi and Amy Bonsall for their recent article in Harvard Business Review regarding the benefits for companies to retain fractional leaders.
In their insightful piece, How Part-Time Senior Leaders Can Help Your Business, the writers offer a comprehensive snapshot of the benefits of fractional hiring, detailing both the advantages and potential drawbacks of engaging fractional leaders. The article also cites three essential must-dos for building effective fractional engagements, making it a valuable resource for businesses considering this innovative approach to leadership:
1. Start with the work, not the role.
2. Ensure a good fit.
3. Maintain an effective relationship.
CommsCollectiv focuses exclusively on placing senior communications leaders in these roles — providing the experience without the cost of a FTE. With all eyes on reputation and the growing importance of trust with customers and consumers, effective comms is more essential than ever.
Reflections on the Journey of CommsCollectiv:
Key Learnings and Future Directions
In the eight or so months since launching CommsCollectiv, we have gained a number of insights that underscore the evolving landscape of communications and the growing need for innovative resourcing solutions. Below are the gaps we identified, key lessons learned and promising opportunities:
Limited Understanding of Fractional Roles in Communications
Unlike finance, where fractional roles are more commonplace, the concept remains relatively new in our field. In all our conversations and engagements, however, there is a clear recognition of the value of bringing in experienced professionals on a fractional basis and eliminating the costs of full-time employment. The flexibility and access to high-level experts makes it a compelling option for organizations navigating the challenges of communications today.
The Power of Community
A cornerstone of our offering, and one of the most gratifying outcomes, has been providing our talent with opportunities to connect, learn and support one another. With the CollectivCommunity, we have built a network where senior leaders can find not only professional growth but also a sense of fellowship.
The Rapid Evolution of Communications Technology
Advancements in technology, particularly artificial intelligence (AI), are reshaping how we approach communications, from automating routine tasks to delivering deeper insights through data analysis. To help ensure senior leaders stay on top of these developments, we are providing space to explore and understand new technologies together. The shared learning experiences within our community have been inspiring, fostering a collective growth mindset that embraces innovation and change.
The Generosity of Industry Leaders
Our industry includes many insightful people who are instrumental in reshaping the future of communications. The willingness of both those currently in high-profile corporate roles and those on our talent roster to share knowledge, mentor peers and drive industry-wide improvements underscores the collaborative spirit that defines CommsCollectiv.
Looking Ahead
Reflecting on our journey thus far, we are certain the coming months will be transformational as we continue to bridge the gap in understanding fractional roles, stay ahead of technological advancements and harness the collective wisdom of our community to drive the industry forward.
7 Myths About Fractional Communications
There are a lot of misconceptions floating around about fractional communications, so we felt obligated to debunk them one by one. Understanding many companies are dealing with resource challenges, using seasoned leaders who provide the expertise and experience on an interim or part-time basis without the costs or commitment of a full-time hire — a.k.a. a fractional executive — is a viable solution. Not as common in the comms area yet, dispelling these myths will go a long way toward organizations feeling comfortable leveraging this innovative approach. Read the full story on Medium.
AI and the Future of Work:
Balancing Innovation with Employee Trust
Alex Goryachev, a Global Technology Executive specializing in AI Workforce Strategy and Digital Innovation, examines the antithetical perceptions of AI between business leaders who see the technology as a innovative game-changer and employees who fear it will take their jobs. His conclusion: it comes down to transparency and trust — and there are tools that can help. Read the whole article here.
Another angle is explored by The Upwork Research Institute whose study, From Burnout to Balance: AI-Enhanced Work Models, found that while “Leaders have high hopes that generative AI will help boost productivity…Nearly half (47%) of employees using AI say they have no idea how to achieve the productivity gains their employers expect, and 77% say these tools have actually decreased their productivity and added to their workload.”
Together these perspectives further highlight the multi-faceted challenges of integrating AI into the workplace. What is clear, however, is the need to embrace transparency, trust and realistic expectations along with the potential of AI as we collectively navigate this evolving landscape.
