Experienced leaders in marketing, finance, technology and operations are critical to steering companies of all sizes to success.
According to recent research by Payscale, the average annual salary of a C-level Executive in Australia is between $150,000 and $250,000. When you add up the cost of a full CXO team (CEO, COO, CFO, CMO, CSO, CTO/CIO and CHRO) it may seem out of reach for most Startups and Small to Medium Enterprises (SMEs). So, how can a startup or small to medium enterprise attract the high-power talent they need, at a budget they can afford?
In contrast, enterprise businesses spend a significant amount of time and money in the quest to find executives, and rightly so. Finding the right person for such an important position is unquestionably important. However, the hole that is left by an exiting executive or when creating a new position can be a massive void to fill, which can lead to businesses rushing into hiring an executive. How can enterprise businesses take the time to find the right person for the job, while still achieving important business goals?
Enter on demand C-level Executives (CXO) For Enterprise
For enterprise businesses to succeed after the exit of a C-Level executive, it is crucially important that operations are not affected too much by their leaving. Hiring an on-demand CXO can be the ideal way to ensure that an experienced executive comes into the business in a time of need.
This executive can serve in the interim, whether this is on a part-time or full-time basis, to ensure the business maintains its high standards. By hiring a temporary, highly-skilled executive, enterprise businesses can take their time in hiring for the full-time position. Getting the right full-time staff member is absolutely critical to ongoing success and the on-demand C-Level provides a limitless amount of time to hire the right person.
Enter on demand CXO (Startups & SMEs)
In recent years, it has become possible for startups and smaller companies to hire experienced executives on a part-time basis. These innovative companies are tapping into senior talent and expertise that they traditionally could not afford. Why would a successful executive work on demand, or part-time? It’s likely that these executives work with a number of companies simultaneously and therefore, earn their deserved full-time salary. Working in this way also affords them greater work-life flexibility and more diversity in their work. Working with on-demand CXOs is a great way to bring in best practice from outside your company and therefore, upskill your existing talent for as long—or as short—as the relationship may last. The executive receives flexibility, financial security and diversity, making it a winning scenario for businesses and executives alike.
To hear four of our top on demand C-level Executives explain how the part-time executive leadership model works and why you should consider building your team in this way.
Download our Report: The Rise of The On-Demand CXO