Fractional Roles in the time of COVID-19
As uncertainty increases pressure to tighten budgets and extend runway - this could be a great time to test out fractional roles with current employees. Especially 80% opportunities.
How to Implement?
Survey employees to see who is interested
Set pilot period (1-3 months)
Determine which 80% of the role to focus on
Reduce salary to 80% for the period
How a fractional role works:
Salary, role, hours are all reduced by the same fraction (ie - 80%)
80% roles could include working 4 days/week or reducing standard days down to 6-7 hours/day
Most Benefits usually remain the same at 80%, but are evaluated more closely at a lower fraction
Why do it?
Leads to focus
Many employees prefer it
Reduced burn-out and increases retention
Maintains buy-in
Reduces costs
Why now?
Give employees extra mental space during this challenging time
Aligns with potentially slowed sales and longer waiting periods on customers, creating efficiency
Reduce burn rate and extend runway to better prepare for potential fundraising slowdowns
Let us know if you’d like assistance in testing or rolling this out to your employees! hashtag#flexiblework hashtag#covid19