INTHEBLACK May 2026 - Magazine - Page 28
F E AT U R E
“We may see more companies turning to fractional
or virtual CFOs in a mentoring capacity to help
support and guide less-experienced finance staff.”
GAVAN ORD, CPA AUSTRALIA
of global skilled knowledge
workers now operate as
freelancers or independent
professionals. Impacted
by trends such as talent
shortages, remote work
demand, generational changes
in career expectations — plus
the cloud and AI technologies
that enable project-based
consultancy at scale, the shift
to fractional roles is reshaping
not only careers, but also the broader
labour market. Freelancers collectively
generated US$1.5 trillion (A$2.11 trillion)
in earnings in 2024, and some out-earn their
counterparts in traditional full-time roles.
Fractional roles within the finance sector
are also on the rise. The global virtual CFO
market, for example, was valued at
US$7.8 billion (A$10.95 billion) in 2024
and is projected to reach US$17.9 billion
(A$25.13 billion) by 2030 as the demand
for fractional services continues to grow.
With nine in 10 executive leaders
describing their finance teams as “lean
and overextended”, and global workers
increasingly prioritising work–life balance
and flexibility, the appeal of agile senior
financial leadership has never been greater.
However, like any position, it comes with
a few drawbacks.
WHERE DEMAND MEETS SUPPLY
Alysia Blackham, professor at
Melbourne Law School, says professional
roles like accounting are now part of
the growing gig economy.
“When gig work first exploded, it was
often mediated by apps and technology
companies — consumer-focused jobs like
driving, food delivery or cleaning,” she says.
28 INTHEBLACK May 2026
“But, to some extent, gig work has expanded
into what we might see as a portfolio career
with people doing lots of different jobs,
freelancing or on short-term contracts for
various employers.”
Robyn Greaves, career change specialist
and author of Your Third Career, says
the supply of fractional finance
workers is meeting a growing
demand. “More organisations
are focusing on accessing
expertise when needed. This
allows them to scale efficiently
while managing risk and cost.”
While organisations
historically drew on fractional
finance workers as a stopgap
for periods of high workload,
says Lauren Haxby, senior
practice director – finance
and accounting at
Robert Half, they are
increasingly incorporating
these roles into their
long-term talent strategy.
“One major factor is the
skills shortage,” she says.
“Another key driver is the
rise of project-based work.
Organisations are increasingly
undertaking system upgrades,
restructures, mergers and
acquisitions, and responding
to legislative changes in
accounting-specific contexts.
These projects create temporary
spikes in workload, making flexible
talent an attractive option.”
Business investment and
international lead at CPA Australia,
Gavan Ord, says senior fractional
workers can provide more than
