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Is FY25–26 the year of the fractional GC?
As businesses brace for a low-growth economic environment, Elle Jones observed that FY2025–26 could mark a turning point in how companies engage legal talent – with fractional general counsel emerging as a cost-effective, flexible solution.
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Speaking on a recent episode of The Corporate Counsel Show, Elle Jones, director and principal of Essential Legal Solutions, discussed the growing appetite among businesses and organisations to employ fractional GCs.
In the same episode, she discussed her journey of transition into a fractional GC role and the balancing act of being a fractional GC.
While Jones acknowledged the increasing demand for part-time fractional GCs for business, she emphasised that gaining “trust” with businesses takes “a little while to build”.
She explained that the companies she currently works with in this capacity initially engaged her for tasks such as “contract reviews”, but gradually they gained “confidence” in her abilities to hold this somewhat unique position.
“They’re getting comfortable with working with you, and you might be working on a couple of matters with them, and then suddenly [they] realise that this could be a lot more financially beneficial for the team and the business if you’re in a fractional role because you could be working on 10 matters instead of maybe three for possibly the same fee,” she said.
The growing demand for fractional GCs in FY25–26, Jones shared, is driven by the “low-growth environment projected for 2025”, which she believes will prompt more businesses to “seek flexible, cost-effective legal solutions”.
In light of the current financial and economic climate, she predicted that businesses will become “more cautious with their spending” – an approach she believes will increase the “demand for fractional general counsel services as companies try to prioritise more cost-saving measures”.
Jones also explained how technological advancements have helped level the playing field for fractional GCs. She noted her ability to “embrace those technologies as they’re coming to the forefront”, which is often challenging for a “big firm” weighed down by legacy systems.
However, the rising popularity of the fractional GC models is not without its challenges. As more lawyers move into this space, Jones observed that the model is “really building momentum”, which she views as a positive development, but acknowledged that it also brings “increased competition within the market”.
Jones explained that for traditional GCs, simply being a skilled lawyer is not enough when entering the fractional space. She emphasised the need to “understand and be able to sell [your] offering,” noting that fractional practitioners are “competing against larger firms that have the resources”.
For those considering a move into the space as the business appetite for this model continues to grow, Jones stressed the importance of clearly “defining your business model” from the outset.