In my third installment of “Changing the Rules of Strategy”, I’m discussing career growth paths for Executive Assistants. The tech industry, specifically working with startup companies offers a wide range of opportunities that aren’t tech related. My intention with this series is to expand on what those opportunities may look like for anyone who is looking to pivot into new careers, or seek to develop their skills. Fractional employment is the perfect path to explore.
What is Fractional Hiring?
Fractional hiring refers to the practice of hiring an employee for a “fraction” of the time a normal employee would work. An employee could be hired to work for multiple organizations throughout the week, month or year.
Startups use fractional hiring to fill skills gaps to hire roles ranging from accounting, engineering, HR, and operational functions.
According to the US Chamber, Fractional workers are legally classified as contractors for the purposes of payroll and taxes. Workers are not hired on a project-bases, typically because their work is ongoing and doesn’t end once the project is complete. Fractional employees work flexible hours and do not have benefits such as health insurance or 401K contributions.
Fractional Employment is an emerging new model that hires talent with specialized expertise. Startup and tech companies tend to hire Fractional Employees to fulfill various roles from executive leadership positions to technical. The unique aspect of the tech industry is that it is an ever-evolving area, this means that not only is technology and innovation the driving factor for developing products, so are new roles and positions. Fractional employment enables people to accelerate their career goals faster than going the traditional route.
If you're currently an Executive Assistant seeking opportunities to pivot in your career, the next possible career path could be a Chief Operations Officer. Here's why:
Truth be told, Executive Assistants tasks are far more complex than responding to emails, answering and returning phone calls; and organizing documents. EA's are the right hand of CEOs. EA’s keep their Execs organized, informed, and are prepared for just about anything.
EAs manage and execute people, including systems, to reduce the inherent complexities of entire departments. They're conducting research, offering advice on critical issues, sitting in meetings on behalf of their direct reports. Much like Chief Operating Officers, EAs are oftentimes required to successfully implement plans and strategies developed by the CEO. The role of an EA provides these key players an insight into the company’s important day-to-day operations. COOs generally specialize in overseeing day-to-day operations.
Before you decide to pivot, think about your long-term ambitions at the company, and the invaluable knowledge you bring.
Anyone with an Administrative support background has an arsenal full of valuable skills and experience that range from customer service, technology, time management and strategic planning, which are valuable to any organization.
Remember how I mentioned the various opportunities to expand upon your skills as an EA earlier? The transition into the tech industry makes sense for a number of reasons:
One, the COO role varies by industry, organization, including the company’s needs. Some COO’s may manage the day-to-day operations and executing the strategies of executive management.
Other roles might be more front-facing, taking the place of the CEO since EA’s often operates as the right hand of a CEO.
Most Executive Assistants operate in various capacities however, without the full support of an EA the CEO a lot of executives would not be able to provide internal leadership and direction effectively.
Time Management
It is impossible to allocate time properly given the day-to-day tasks required to run an organization. Operational priorities are often delegated to EA’s to facilitate managing the unique needs of the organization and stakeholders. EA’s assist with filling gaps within talent to help move the company towards its goals.
Cross Collaboration
As an Operations Executive, EA’s understand the importance of helping the CEO Succeed. Much of their responsibilities include, cross-collaboration. EA’s must stay on top of tasks in addition to working closely collaboratively between teams such as marketing, sales, and customer service to coordinate operational functions within each department.
Operational knowledge
An incredible strength that most EA’s have is their ability to connect operational knowledge to understanding different parts of the organization and how they come together to deliver an exceptional customer experience. With an understanding of operational functions, EA’s can collaborate with management teams on new and improved ways of working collectively.
Operational Excellence
The need for operational excellence is essential for all companies to meet or exceed organizational goals and growth. Disruption usually happens with companies who are operationally superior. Some companies get it right and deliver customer service consistently, other fall flat. It is essential to success to identify your expertise and align yourself with a company whom you can learn from and expand upon. Many of you have already contributed to a project or daily task that facilitated in the company meeting or exceeding their goals. Go back and look at your previous accomplishments and projects. Use what you’ve accomplished as leverage within this new space of employment.
Diverse skills
EA’s have specialized competencies and capabilities due to their vast experiences, skills and diverse levels of education. For companies to truly prepare the COO, an onboarding process must be in place first, one that includes career development paths that grows with the company.
Relationship Building Skills
EA’s have their eyes and ears open and are constantly engaging with people at all organizational levels including vendors and customers. EA’s are positioned to be great leaders who know how to earn the trust of people, while building credibility and trust.
As an Executive Assistant, seeking to pivot into a new career, a Chief Operations Officer may be the next possible career path. As a COO, you’re tasked with overseeing the day-to-day administrative activities of the organization to help the company meet its goals. Do not underestimate how your role as an Administrative Assistant or Executive Assistant enables you to collaborate efficiently with leadership teams on complex projects and tasks.
In conclusion, there’s an entirely new market filled with opportunities to turn your skills and talents into tangible outcomes, from career growth to increasing your income. Please like, share my newsletter with your friends and sign up to receive more tips and advice!
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