Running a successful business requires effective administrative support, and being able to offload certain tasks will free up both time, and mental space for an executive. The decision to go full-time or fractional with an executive assistant may be difficult; both have their pros and cons. Hamilton Raye can help you understand the unique needs of your business, to bring clarity and make the decision that is best for you!
Let’s start with the basics.
What is the difference between the two? A full-time executive assistant is a dedicated employee working regular hours to manage administrative tasks. A fractional admin refers to a professional who provides part-time or project-based administrative support to businesses.
Determining which type of executive assistant will best serve your needs depends on several factors, including workload, budget and working preferences. The following guidelines can help you make the right choice for your business.
Workload and Availability. Take a look at your workday. Assess the volume and nature of tasks that need to be handled. If the workload is relatively consistent and substantial, a full-time executive assistant would provide a continuous presence during regular working hours… and makes sense. On the other hand, a virtual fractional executive assistant offers more flexibility and cost-effectiveness by serving in a varied or project-based role. This frees up the workload without a full-time commitment.
Budget and Cost Considerations. This one requires a look at your books. Hiring a full-time executive assistant means the commitment of a regular salary, benefits, and other associated costs. If your budget allows and the workload is justified, this option makes sense. However, if your budget is limited or you only require assistance for specific tasks or hours, a virtual fractional executive assistant can offer a more affordable (and flexible!) solution.
Expertise and Specialization. Take a look at what skills you’re wanting assistance with. Fractional executive assistants are professionals with a wide range of experience in various industries. They can help with project management, event planning, marketing, and administrative tasks – providing the help needed, tailored to an executive’s requirements, without the need for a full-time hire.
Scalability and Growth Potential. Growth is always the goal! However, with growth comes increased workload. You’ll need support. If you foresee a need for ongoing support that grows with the organization, a full-time executive assistant might be a better choice. If the needs are more project-based or subject to fluctuation, hiring a fractional executive assistant can provide flexibility to scale up or down, as required.
Both options offer invaluable administrative support for a business. Ultimately, it comes down to specific requirements, budget and a planned trajectory. Considering these factors will help an executive feel more equipped to make the right choice that best aligns with a business. If you’re interested in learning more, check out our website.