Although not a well-established approach, part-time directorships are a flexible, cost-effective way to grow companies and get senior talent on board. We are working with small and medium businesses to promote part-time directorship and educate in hiring and management mechanisms to make the most of the growing number of portfolio directors available.
Where consultancy and interim management are flexible ways to gain expertise in the short term, they can be expensive if a longer term solution is required and are structured differently in terms of responsibility and “buy-in”. In addition to this, consultants and interim managers are paid at day rates, so it can be difficult to defer to them without blurring the lines of the engagement. Part-time directorship solves this problem and can be a potent tool for growth.
From a careers perspective, part-time directorship allows senior talent to focus their time on companies and projects that require their level of skill rather than trying to add value elsewhere as a company grows or limit their involvement to consultancy-driven roles.
We have a growing number of events supporting this form of work as well as having it embedded within our career development courses. Please contact us for more information.