Whether you have an internal HR department or rely on external providers, Agency Financial Management can provide a fractional Chief Human Resources Officer to your team who can manage your entire HR function. We evaluate your agency’s HR situation and aid in creating and executing a plan to optimize your talent and systems.
Our services include a variety of strategic, financial, and operational options. With our own experience in building and selling companies, we understand the process of creating a successful agency and can relate to your situation.
Our Dynamic Human Resources Support Process
Partner with us to take a comprehensive, long-term perspective on your growth plans and create a strategy to acquire the right people, processes, and systems to meet your talent needs.
Compliance & Risk Mitigation
Prepare for any eventualities. We identify your risks and compliance shortcomings, then develop policies, procedures, and plans to address them before issues occur.
Obtain the insight needed to build a top-performing team. We analyze your company culture, structures, and operations to identify inefficiencies that could hinder your success.
Identify talent shortages to prioritize your hiring plans. Allow us to handle the task of creating job descriptions, searching for candidates, and positioning your company as an attractive employer.
Develop your talent at every stage, from new employee onboarding to leadership training and executive coaching. We provide the resources needed for your team to reach its full potential.
Utilize our fractional HR team for special projects such as benefit and compensation program design, M&A due diligence, HCM assessment and integration, and PEO transition.
Frequently Asked Questions (FAQs)
How do your fractional HR services work?
Our fractional HR services focus on high-level human capital acquisition, management, and oversight. We start by assessing the overall needs of your agency and the people and solutions you already have in place. Then we work with you to develop a customized engagement that will prioritize the most complex and timely issues while allowing for the unique nuances of your industry, stage of growth, and budget.
Then, we get to work. We collaborate with your existing advisors, team, and service providers to create, implement, manage, and monitor an action plan for making the most of your investment in human capital. If necessary, we also pull in additional expertise to address any skill and experience gaps.
We deliver quarterly reports on our goals, performance, priorities, and issues during our engagement, so you will always know where things stand. And, of course, you can reach out to our team anytime when you have questions.
What are the benefits of fractional human resources management?
Our fractional CHROs can benefit any human resources team that finds itself in need of strategic guidance. Sometimes clients ask us to step in as an interim CHRO when someone internally is going out on leave. Other times, clients hire us to tackle complex HR projects or provide oversight when they lack the necessary skills in-house or don’t need (or can’t afford) a full-time Chief Human Resources Officer. We offer a cost-effective option for executive-level HR management that is highly suitable for small and mid-sized agencies.
How much does a fractional CHRO cost?
The cost of fractional human resources services will vary greatly, depending on what you need. Many fractional CHRO rates average around $250-$300 per hour, with a minimum commitment (for ongoing engagements) of 10 hours per month. Therefore, you can expect to spend roughly $30,000 per year (or more) if you require ongoing services.
When you compare this to the cost of a full-time CHRO, which would run you approximately $350,000 a year (after taxes, benefits, and bonus), the value is clear. You get a C-level executive at just a fraction of the cost.
When is it time to hire a fractional human resources service?
Some start-ups and small agencies with simple needs can get along just fine without a Chief Human Resources Officer. As your company grows and pursues initiatives that will allow you to scale, however, you will likely need higher-level HR skills. Such companies require stronger systems and processes for attracting, managing, motivating, and serving the needs of their workforce.
When your internal HR team can no longer meet the needs of your employees, but you’re not quite ready to hire someone full-time, it’s time to hire a fractional CHRO.
Do you provide payroll and benefits services?
We will make connections, provide advice, and help you hire the right payroll and benefits providers for your needs. We will also help to onboard or offboard certain providers or pursue related initiatives. However, we do not provide payroll services or serve as insurance or benefits brokers.