Singapore’s C-suite goes freelance

A growing number of mid to late-career professionals in Singapore are embracing a new type of role: “fractional leadership.”

These experienced executives provide strategic leadership to organizations on a part-time basis. Think something like the gig economy but for the C-suite.

David Lim is one such professional who’s made the move to fractional work.

The Singaporean was a senior vice president of marketing and the managing director for online grocery platform HappyFresh until 2022. He was laid off from the firm, which was an early casualty in Southeast Asia’s funding winter.

See also: Forget founder mode, the time of the fractional founder has come

Despite offers of a full-time position as chief marketing officer (CMO), he turned them down to become a fractional CMO. He says the move has given him better work-life balance while also allowing him to bring value to businesses.

Recruitment firms in Singapore have reported growing interest for similar hires from startups to global corporations. Fractional leaders have even built agencies to help offer their specialized expertise.

However, the booming supply of fractional talent may be outstripped by demand in the city-state, and it’s fair to ask if firms are ready to embrace this new and flexible hiring model.

Not a nine-to-five

Fractional leaders tend to be hired for senior leadership positions, typically working from one to three days a week for contracts running between six months and several years.

These executives get more leeway with regard to time, while resource-strapped companies get long-term access to top talent at a fraction of the cost.

You are not paying them for time but for quick outcomes.

A fractional leader could roughly command 30% to 50% of a full-time equivalent’s salary, says Eric Okumu, head of the Asian interim executive practice of global organizational consulting firm Korn Ferry.

Tide turned

Startups lead the way