Sara Daw is a fractional leadership researcher, speaker and Group CEO of The Liberti Group and The CFO Centre.
She is also the author of Strategy and Leadership as Service – How the Access Economy Meets the C-Suite, which explores the fractional leadership trend.
As senior leaders approach the latter stages of their careers, many are beginning to explore alternatives to traditional executive roles.
For those with extensive experience, particularly in fields like finance, operations, or transformation, a portfolio career is increasingly seen as a compelling option.
Take, for example, the case of seasoned CFOs who found themselves stepping into interim roles following events such as the global financial crisis. What may have started as a temporary solution often evolves into a long-term path. Over the years, these professionals accumulate a wealth of experience by working across diverse sectors and challenges, from restructuring and systems implementation to raising finance and leading M&A activity. They become adept at supporting businesses ranging from early-stage start-ups to multinational corporations. There aren’t many scenarios they haven’t encountered.
But as retirement begins to appear on the horizon, some start to question whether the interim lifestyle is still the right fit. While the variety and challenge have been rewarding, the stop-start nature of interim work can become taxing. Extended breaks between roles can be a perk, yet the unpredictability of engagements and the pressure to jump at every opportunity can wear thin. Frequent relocations and the emotional toll of continually starting and ending relationships can lead to a sense of professional fatigue and isolation.
This is where a portfolio career presents an appealing alternative. Rather than cycling through high-intensity interim assignments, leaders can engage with multiple organisations on a more flexible, long-term basis. This allows them to build deeper relationships, see the sustained impact of their contributions, and be part of a broader professional network or team. For many, it’s a way to continue adding value while regaining balance and meaning in their work as they approach retirement.
In practice, businesses are employing leaders with portfolio careers in fractional leadership roles, such as CFOs, CMOs, and HR Directors. It is a popular solution for entrepreneurial businesses that don’t want, don’t need, and often can’t afford to employ full-time C-suite leaders, but they still need these skill sets to help them scale. Fractional leadership enables businesses to access experienced C-suite executives on a part-time basis as needed, say two days per month or one day per week, rather than committing to traditional full-time employment. This model allows businesses to access high-level talent flexibly, dialling up and down as required, while giving leaders flexibility within their role.
It is possible to work full-time in the fractional leadership model and earn significantly well, or part-time and balance with other interests. In addition, when we reach the stage of life where we want to retire, we can slowly wind down portfolios over an extended period as the clients naturally come to an end, rather than retiring from corporate life, which often involves going from full-time work one day to nothing the next.
For leaders nearing retirement age, portfolio careers can make a compelling middle ground to bridge the gap between full-time work and retirement. With two-thirds of people over 50 who returned to work after retiring citing a desire to stay mentally active as their reason for returning, there is a place for portfolio careers as a way for leaders to remain active within business – while gaining more flexibility in their lives.
