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Traditionally, CEOs have had to spend long hours at the helm of their organizations. Being a CEO is almost synonymous with being overworked, so it’s no wonder that 82% of senior leaders admit to experiencing burnout or exhaustion.
However, an 80-hour work week is no longer considered the badge of honor it once was. As a result, the concept of part-time CEOs is gaining traction.
In 2023, I transitioned into a part-time CEO position at my company, DeskTime. I quickly realized that with a high-responsibility role in a fast-growing company, it can be difficult to take a step back and fully embrace this working arrangement.
Your success will depend on how reliable your team is and your personal flexibility. In my case, I fully trust my team and am willing to devote full-time time to support them if necessary. During your quieter hours, taking on a part-time role allows you to focus on developing new business ideas or spend extra time on your family or hobbies.
Now, if you’re considering this work arrangement, here are some pros and cons to consider before making the switch.
Related article: 3 lessons on embracing discomfort from my first CEO
Benefits of becoming a part-time CEO
1. Less fatigue = more energy. According to U.S. government data, 21.8 million people will choose to work part-time in 2023, an increase of 5% from a year ago and 15% from 10 years ago. This means that people recognize the value of prioritizing their own well-being over professional and financial factors. Part-time jobs keep your brain stimulated while avoiding fatigue and stress.
As most part-time workers can attest, a three- or four-day work week provides a good work-life balance. She doesn’t experience burnout and feels less fatigued, so she can always approach anything with 100% of her heart.
2. There’s no time for micromanagement. Working part-time requires complete trust in your team. Even if you have a tendency to micromanage, you don’t have time to micromanage.
Instead, if you use your time wisely, you’ll have time to focus on the activities that add the most value. Make your priorities clear to your team so everyone knows where to allocate their time and what concerns they bring to the table.
3. A cost-effective option for businesses. Hiring a part-time CEO can be cost-effective for companies, especially startups and small businesses with limited resources. This arrangement provides organizations with experienced leadership without the financial burden of a full-time executive.
4. Expand your skills and flexibility. By not being tied to one organization full-time, part-time CEOs can diversify their activities and become more flexible and adaptable. They can remain deeply committed to the business while bringing a fresh perspective from outside the bubble of full-time employment.
Related: Transitioning from Entrepreneur to CEO
Disadvantages of being a part-time CEO
1. Getting out of the loop. If your organization continues to operate while you’re away, you may find yourself missing out on day-to-day operations and company events. In a dynamic business environment, many things happen every day, and you may need a full-time employee to keep you updated.
To avoid delays, schedule weekly or biweekly team gatherings to share what everyone is working on. Also, accept that you don’t need to be informed about every process that occurs within every project. Focus on the big picture and the information that will impact how you get there.
2. The challenge of building strong relationships. Non-executive CEOs face challenges in establishing and maintaining strong relationships with employees, customers, and partners, as their limited presence can hinder effective communication and building trust. may be faced.
Non-executive CEOs may also face mistrust from employees and stakeholders regarding their commitment to the organization. Let’s be honest, the phrase “I got the job done this week” sounds weird coming from her CEO. Therefore, it is even more important to demonstrate leadership in front of full-time employees.
Consider prioritizing human interaction over admin and screen time during work hours.Serves as a touchstone and mentor to the entire team in developing and sustaining a strong company culture.. For example, my top priority is one-on-one sessions with my team leaders during work hours.
3. Spend less time on strategic planning. The CEO’s role is strategic in nature and must be focused on long-term goals and the vision of the organization. Part-time CEOs may find it difficult to allocate enough time, which can hinder the company’s ability to chart a sustainable future direction.
To stay strategic and focused, try not to get drawn into too many deep details. Your job is to build a robust business plan and lead its implementation. While your full-time staff handles day-to-day operations, you’ll focus on the big picture and oversee things to make sure everything stays on track.
4. Limited availability in times of crisis. Some organizations may struggle with limited CEO responsiveness during tense and critical times. As a non-executive CEO, you may struggle to provide the level of responsiveness and decisive leadership needed at such a critical time.
Make sure your company has a clear chain of responsibility to effectively navigate turbulent times. Build a strong team that can perform even if you take a two-week vacation or find yourself in a crisis.
My team has a COO who constantly monitors the day-to-day operations. Additionally, we created his monthly, quarterly, and annual KPIs and a clear roadmap to support them. Having a clear structure in place will help you avoid crises and deal with them if they occur.
Related: How to successfully implement a four-day work week, even at fast-growing startups
Is it a good idea to become a part-time CEO?
That’s the case if you have a strong team and a clear vision of where to allocate your limited working time. If you’re unsure, try reducing your workweek to 35 or 32 hours first instead of suddenly changing it to 20 or 24 hours. I recommend starting by taking Friday (or any other day) off.
As the business environment evolves, part-time CEOs are likely to become more prevalent. However, its effectiveness depends on carefully balancing a leader’s ability to manage time and commitments with an organization’s ability to embrace non-traditional leadership models.
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