Chief technology officers (CTOs) are key members of the executive team who provide leadership, direction, and expertise to technical teams. This is true whether you’re a 10-person start up, an established SMB, or a large enterprise. A fractional CTO offers the same industry-specific knowledge as a full-time CTO—with trimmed responsibilities and at a lower cost.
Before you move to bring in a fractional chief technical officer, it’s important to understand the benefits, assess your needs, and make sure your remote hiring practices are up to par. We’ll cover those considerations and discuss three ways to find the right technical leader.
A full-time CTO takes responsibility for aligning a company’s technology resources and vision with its business goals. That can include setting technical direction, leading developers and engineers, and collaborating with other C-suite executives to move short-and long-term goals forward.
A fractional chief technology officer is tasked with specific, urgent needs such as strategic planning, infrastructure management, or product development. Fractional CTOs are seasoned pros, so they’ll be able to quickly tackle business priorities. They’ll also save you money. Full-time CTOs can cost hundreds of thousands of dollars each year. Hiring fractional CTO will reduce costs without sacrificing outcomes.
A fractional CTO can help you reach almost any goal. They concentrate their efforts where you need them most. Some ways they can bring value to your organization include:
· Delivering a technical roadmap and strategy
· Launching new products or services
· Guiding technical teams to prioritize work and tighten schedules
· Overseeing IT security
· Managing technology contracts
Defining the skill set you need in a fractional CTO can make or break your hire. What are the broad qualifications you are seeking? Is start up experience a deal-breaker? Are there experience or skill gaps with your current team that you need to fill? Is an advanced degree preferred?
What about hard and soft skills? Are you seeking specific technical or strategic knowledge? Is crisis management or communication at the top of your list? Your search stands the best chance for success with these details laid out in advance.
The demand for top technical talent is outpacing the current supply. That’s why it’s critical that you evaluate your hiring process to make sure it’s smooth and transparent to attract the best candidates.
Your HR team should know how to evaluate technical executives. They must clearly and accurately articulate the responsibilities of the position and understand how it interacts with the C-suite. If you’re not confident your team is up to the task, consider using an agency that specializes in the recruitment of fractional executives.
Now that you have a clear picture of what you’re looking for in a fractional CTO, it’s time to look at the three ways to recruit one.
1. In-person networking—Pounding the pavement at industry events can lead you to candidates. More opportunities will become available as the pandemic eases.
2. Job aggregator sites—Posting the role on platforms like LinkedIn and Indeed will give it wide exposure and could lead to many applications. Before you try it, consider if you have the needed resources for screening.
3. Talent sourcing agencies—This method is ideal if you need pre-screened, highly-skilled candidates able to onboard quickly. Esteemed’s community of fractional chief technical officers have contributed to the success of startups and established companies and are ready to sign on without delay.
When you work with Esteemed, we do the recruiting and onboarding of a fractional chief technical officer for you. You’ll get a hand-selected list of ready-to-hire CTOs on demand that meet your must-have requirements.
“Esteemed’s sourcing experts provide white glove service to their clients,” says Albert Volkman. “In a matter of hours, Esteemed finds the right fractional CTO that’s ready to take on your toughest business challenges.”
Sourcing top technical talent has never been more competitive. To find the right fractional CTO, you’ll need to take an inventory of critical skills, focus on the benefits to your company, and consider the urgent roles they can take on now. Most importantly, you need to decide if your remote hiring experience is competitive.
To get connected to our pre-vetted fractional CTOs ready for immediate hire, request a quote today.