Product quality is one of the key drivers to ensure customer loyalty, especially when customer consciousness is on the rise. Here is where a C-suite executive can help your company retain loyal customers by enhancing product quality by leading the team strategically. You may think quality is embedded in a business’s DNA; why need a top-level executive to improve it further? But ‘quality,’ if not approached systematically may often be taken for granted and get compromised in the long run, and this can happen to any company- irrespective of its size and stage in the business lifecycle. But then, engaging a high-pedigree chief quality officer in a growing organization is a costly proposition! – Enter Fractional Chief Quality Officer – the cost-effective yet functionally effective solution to the situation.
Who Is a Fractional Chief Quality Officer?
A chief quality officer, aka CQO, is a top-level quality advocate at an organization whose role is to drive the best quality practices and ensure the products stay compliant. A Fractional CQO is an industry professional with years of experience in quality assurance and quality management who offers consultation to small and mid-level businesses. They are not associated with the company full-time. A Fractional CQO leads change to enable process improvement and expand quality. However, their role transcends beyond quality assurance. An adept Fractional CQO also offers leadership and training to quality and product managers, who can continue to improve product quality.
Onboarding a Fractional CQO is less expensive than having a tenured top-level quality assurance and management executive. They can assist the company for a specific period or a project. Therefore, small and mid-sized companies can leverage the industry experience of a high-pedigree CQO without stressing their annual budgets. A Fractional CQO brings in a fresh perspective for product quality management that can help the companies skyrocket sales and capture a larger market share through superior quality products.
Is It Beneficial For a Small Business to Engage a Fractional CQO?
Believe it or not, a Fractional CQO may be the missing piece your business needs to grow and achieve its quarterly goals. Onboarding a Fractional CQO helps your business explore new areas in quality management. Moreover, you find new avenues for enhancing existing operations. Fractional CQOs are usually equipped with intense industry knowledge and are aware of the shifting trends in quality management. Such advice and expertise can unlock new potential in quality management and assurance. Finally, the Fractional CQO will enable your small business to comply with relevant regulations and statutory standards.
Key Roles and Responsibilities of a Fractional CQO:
Are you struggling to ensure product quality, want an extra zing that will help you double your sales, or simply need advice for staying on the right side of the law? Onboarding an expert Fractional CQO will ensure all this and more. Some of the key responsibilities of a Fractional CQO entails:
- Measure the effectiveness of existing quality standards and check quality performance.
- Identify any lack in the existing quality measurement techniques and fix them.
- Formulate strategies and methods for quality check, assurance, and management.
- Identify potential risks and resolve them at the earliest to avoid legal complications.
- Make sure that the company complies with industry standards and laws.
- Oversee the quality offered by third-party vendors.
Services Offered by a Fractional CQO:
While there are several services a Fractional CQO offers depending on the company’s needs, here is a list of standard services you can expect to receive:
- Ensure process transparency
- Improve production and quality management processes
- Risk management and mitigation
- Drive improvement in product quality
- Maintain relationships with third-party vendors and suppliers
- Check product quality gathered from third-party users
- Motivate the production team to strive for higher-quality products.
How Can You Select the Ideal Fractional CQO for Your Company?
Companies dealing with production and manufacturing can benefit by onboarding a Fractional CQO. But the real question is, who is an ideal Fractional CQO? Although there is no right answer, you may want to look at these three attributes before making the final call:
- Look at the CQO’s years of experience, especially their sector of expertise. For instance, it is prudent to choose a candidate with a background in the F&B industry for your confectionary and baked goods business.
- Assess their ability to communicate with the team and manage risk. They should be able to handle any risk that may arise due to quality management and help the business strategically mitigate those risks while staying compliant.
- Finally, top-level executives like Fractional CQOs must possess ingenious skills for formulating winning strategies that help the company save money without compromising product quality.
Job Description for a Fractional CQO
The ideal Fractional Chief Quality Officer is a quality specialist with extensive industry experience. They must have a keen eye for detail and an understanding of industry quality standards. The CQO also ensures the company adheres to all statutory guidelines and quality standards to safeguard the company from legal complications.
What is the Remuneration of a Fractional CQO?
There is no fixed remuneration for the Fractional CQO role. It is flexible and is based on many factors, like industry, experience level, business complexity, and scope of work. There can also be other factors which will influence the cost of a fractional chief quality officer. Nevertheless, the remuneration is usually cost-effective and small-business friendly.
8 Steps to Find the Right Fractional CQO for Your Business – With COHIRE:
COHIRE makes the process of hiring a Fractional CQO easy and efficient by finding the right match through a structured process. Here’s how we do it:
Step 1: We understand how your business can benefit from onboarding a Fractional CQO.
Step 2: Our hiring experts create the perfect job description for the role of a Fractional CQO to attract only the best profiles
Step 3: Use ATS to track all applications and shortlist candidates
Step 4: Assess and shortlist the best applications for you to review
Step 5: Conduct a structured interview for the selected candidates.
Step 6: Explore the candidate’s industry experience through relevant case studies
Step 7: Check the references and background of the shortlisted Fractional CQO
Step 8: Onboard the expert as a Fractional CQO in your company
COHIRE: The One-stop Destination for Onboarding a Fractional CQO?
It can be hard to find the perfect Fractional CQO for your business. Worry not! COHIRE is here to find the best Fractional CQO so you can benefit from their industry expertise and optimize your product quality. COHIRE also helps with peaceful conflict resolution and mitigation services.
Frequently Asked Questions:
1. Which industry needs Fractional CQO?
Several industries can leverage the expertise of a high-pedigree fractional COQ, such as construction, food and beverages, manufacturing, healthcare, and automobiles. Any company dealing with tangible products will need a deft chief quality officer to deliver superior-quality products that adhere to industry quality standards.
2. How much experience does Fractional CQO need?
There is no specific number of years of experience that is mandatory for a Fractional CQO. It will vary based on the company’s need, scope and complexity of the job.
