Fractional recruiting, like all fractional employment, is a model whereby the "employee" (per se) works part-time for several different employers during the week. The difference between fractional employment and part-time or contract labor is that fractional employment typically does not represent project-based or interim work. Such "employees" would perform the same kind of work as full-time employees, just on an abbreviated schedule. Legally classified as contractors, fraction workers work flexible hours and can work for more than one employer at the same time.
The US Chamber of Congress says fractional hiring allows new companies to benefit from experts with deep industry experience at a fraction of the cost of hiring a full-time employee. Fractional recruiters are great for startups or companies who have not yet hired their first full-time recruiter but could really use the recruiting help.
As for me, I am looking to be retained in an ongoing relationship (i.e. not project, interim, or freelance work) in which I can build relationships with hiring managers and perhaps build recruiting process within your company. Clients that I could potentially work with for years to come. The minimum initial engagement is for 10 hours a week (or ¼ time) on a 30-day trial and the contractual agreement will state I must be given two-weeks notice before any engagement can end. Pay would be strictly by the hour and without benefits and foregoing benefits like medical, 401K, etc.
Benefits of bringing in a fractional recruiter:
Not needing to hire a full-time recruiter when a part-time recruiter would do due to job opening volume.
Unburden HR staff and hiring managers with recruiting work that could be better spent doing the main tasks of their roles.
Bringing in a recruiting expert who knows how to find and recruit the talent or even build the recruiting processes for you.
As this is ideally a long-term commitment with a particular recruiter (i.e. me), I would really get to know your hiring managers, HR staff, and the company very well. I would be able to truly work as part of the company.