Now that we know what the full-time equivalent would be, let's take a look at the labor market, because what you'll pay is also affected by “the current rate”. Because a fractional COO only works part-time or on a contract basis, he doesn't receive a full-time salary or company benefits. Whether you're a new company or if you've been in business for a while, a fractional COO could be a good fit for you. Fractional COOs are valuable and affordable assets for your organization that bring the same skills and experience as a high-level industry veteran at a fraction of the cost.
A fractional chief operating officer can also act as a principal consultant and business advisor to help your company thrive. Depending on the operational needs of the organization, sometimes fractional COOs may be used to fulfill specific purposes and temporary projects. Therefore, it makes sense to start by hiring a fractional chief operating officer (COO) who can help in this area for a fraction of the wage rate. Outsourcing a fractional operations manager can ease some of the burdens, so you can rest for as long and recover with more strength.