Over the past few weeks we’ve realised there’s quite a bit of confusion, or simply unknown, around the term “fractional work”.
We’re working towards something exciting for the fractional workforce in Africa, and while we’re not necessarily limited to fractional (we include really talented freelancers in our mix), we thought starting with a high-level overview of what fractional work is was needed.
The term fractional isn’t entirely new, and has roots in the freelance and gig economy. Fractional work, also known as fractional employment or fractional hiring, is a work arrangement where individuals work for a company or client on a part-time or project-by-project basis, typically with some form of ongoing retainer in-place. This model provides flexibility for both employers and employees, bridging the gap between full-time employment and freelancing.
Here's a summarised peek into fractional work and its significance for African talent:
- Definition: Fractional work embodies individuals engaging with multiple clients or companies, allocating only a portion of their time to each project or role. It enables professionals to diversify their engagements while delivering quality results. Typically, a fractional resource is quite senior and provides ongoing strategic insights due to greater transparency into the longer-term vision of the company.
- Trends: The African workforce is experiencing a growing trend towards flexible work arrangements. Hybrid flexibility, allowing remote or part-time in-office work, resonates well with fractional work dynamics, facilitating effective management of diverse, modern-day commitments. Rafiki believes that a significant opportunity lies within the fractional work force across Africa, one that has the potential to benefit local economies and career progression hugely.
- Benefits for Freelancers: Fractional work fosters enhanced job security for freelancers in Africa by broadening their income streams, while engaging with multiple clients concurrently mitigates income volatility. We’ve chatted in-depth to over 40 highly skilled freelancers across Africa, and fluctuations in client workloads is something every single one has noted as a reoccurring pain-point. Could the right platform facilitating fractional work in Africa be a solution?
- Benefits for Employers: African businesses could leverage fractional workers to access specialised skills without committing to full-time employment expenses. This approach optimises costs while maintaining productivity and quality standards, offering a flexible talent solution tailored to the continent's dynamic business landscape. In addition, it offers an attractive source market for international agencies and startups looking for diversity in talent and cultural insight into new market penetration.
Fractional work heralds a promising horizon for talent in Africa and startups alike, fostering partnerships that might very well be the future of innovation, flexible workforces, and job security across the continent.
If you're a freelancer in Africa interested in ongoing freelance work, or exploring a fractional career in tech, please apply to our community here. Startups and scaleups looking for strategic support sourcing, hiring, and managing skill-specific freelance talent on either a project-to-project or ongoing basis, we'd love to chat.
