VC Voices: Eight Roads’ Lucy O’Brien advises HR ‘don’t get too fixated on price’ of tech

After 18 years in executive search, in 2022, Lucy O’Brien transitioned into the venture capital (VC) space.

She took on the role of head of talent and ecosystem at Eight Roads Ventures, a $11 billion global venture fund that invests in tech companies at Series B level.

Currently, Eight Roads has 450 global companies in its portfolio; for O’Brien, in the HR tech market there are two that standout.

In an interview with UNLEASH, O’Brien shares: “HiBob is a real stand-out firm, not just in our portfolio, but across the HR and workspace market.

“The company and its next-level HR and employee engagement platform continues to gain incredible traction, appealing to both scaleups and larger enterprises alike.”

HiBob’s customers include Huel, Monzo, OnePlus and Save The Children.

The other is Gloat and its talent marketplace.

“We are strong believers that the new generation of workers have higher expectations about the workplace, want to be in charge of their own careers, want to keep learning, and don’t see themselves doing the same job/staying in the same lane their entire life,” notes O’Brien.

But Eight Roads does more than just invest in these tech companies, it also supports them as they grow.

This is specifically where O’Brien (and her recruitment expertise) comes in.

“As head of talent and ecosystem, I support these portfolio companies with the ‘how’ of this scaling process.”

She continues: “With the right team you can achieve what might otherwise seem impossible as you start your journey as a founder.”

UNLEASH is thrilled to welcome O’Brien as our VC Voice for February – this marks the seventh edition of our Editorial interview series, and she follows in the footsteps of Cédric Cops from Mediahuis Ventures, Acadian Ventures’ Thomas Otter, and Jane Reddin of AlbionVC.

Check out her tips and tricks for HR leaders on how to cut through the tech noise; “focus on what you’re trying to solve and don’t get too fixated on price or caught up in specific features”.

Allie Nawrat: Your background is in recruitment and executive search – why did you decide to move into investing? And what’s one piece of advice you would give to your younger self?

Lucy O’Brien: I spent the early days of my career working within talent groups and building leadership teams for corporate organizations from Nestle to Vodafone, Facebook to Korn Ferry and more.

I have almost two decades of helping venture backed businesses scale, I’ve lived the challenges many of our founders face, and speaking as someone with founders in my family – my sister and brother-in-law have both created successful businesses, whilst running a family of three – I’ve also seen the battle first-hand.

I never thought I’d find myself in this world, yet these experiences made the move into investing, and particularly Eight Roads, feel like a natural one.

Lucy O’Brien, head of talent and ecosystem, Eight Roads Ventures.

My advice to my younger self would be, as my father often says, ‘let it all wash over you’.

Don’t be scared to veer off track. As you develop your career, the path you’ve taken becomes clearer and if you listen to your heart while having the makings of a plan, you’ll find your way.

I initially wanted to be a pianist and, after falling into recruitment, I’ve now found my place on a mission-driven path that I feel privileged to be on, and which I can’t imagine ever not doing.

AN: Who inspires you, and why?

LO: Over the years, I’ve been inspired by leaders like Sheryl Sandberg; her book Lean In changed my life.

It prompted my move to London and was the driving force behind the total re-assessment of my career and future plans. I never imagined I’d find myself working for her when I joined Facebook in EMEA.

Another is Dr Fei-Fei Li who is Professor of Computer Science at Stanford University and Co-Director of Stanford’s Human-Centered AI Institute.

Having recently heard her views on AI on the This is Working Podcast, I really identify with her beliefs around respecting the unknown and being open to embracing change, and I feel inspired by her talk of being ‘fearless in your curiosity and pursuit of ideas’.

I love her view of the world!

AN: Here at UNLEASH, our audience are HR leaders, and they are the key customers of HR and work tech. What should HR leaders look out for when buying tech? What should they avoid, and why?

LO: Getting HR technology right is perhaps more critical than ever before; this is due to the fact HR continues to gain momentum at the leadership table, and because a great employee experience is key in the attraction and retention of top talent.

Yet it’s not always easy to know which new and emerging technologies are worth exploring.

Agility is the most important theme to keep in mind when buying HR tech.

Not only do you need to make sure the technology allows for your shifting priorities to be met, but you also need to recognize that it will play a key role in supporting the delivery of actionable insights.

This will become even more important and paramount as your organization scales.

You also need to consider the holistic benefits a particular platform can offer you; focus on what you’re trying to solve and don’t get too fixated on price or caught up in specific features.

The platform should be easy to use, offer good value and solve a broad range of problems, providing an all-in-one solution to your biggest problems.

Finally, and most importantly, you must get buy-in from your employees.

They’ll be using it day in day out so ask questions, take references from the people you trust the most, and speak to teams who have used the tech themselves.

AN: What can HR tech companies do to really stand out in this overcrowded HR tech space?

LO: Winston Churchill once said ‘we shape our buildings, thereafter they shape us’ and this is remarkably poignant in today’s market.

The organizations that are helping businesses balance employee needs for mobility and individuality, and which are solving for this sense of inclusion in a way that drives the company forward really stand out in this space.

As too are the organizations breaking down traditional boundaries and constantly challenging what are considered accepted ‘norms’ when it comes to workplace culture and workforce motivation.

Daniel Pink wrote a great book Drive which speaks to the drivers of intrinsic motivation, and how focusing on outcomes with total freedom over your ‘how’ can build the healthiest of companies.

Eric Berne’s Games People Play, which speaks to the psychology behind workplace interactions, is another fascinating and influential book on this topic.

AN: Looking to the future, what are the most exciting innovations on the horizon for HR tech? Are there any technologies that the world would be better without?

LO: Advancements in AI will be critical for HR and people functions, in particular how they’ll impact organizational development, re- and upskilling and ultimately turn culture on its head.

What’s more, some of these tools are already here and are starting to make waves.

In recruitment, for instance, the next generation of screening technologies are coming through and gaining in sophistication.

At some stage AI will completely transform the recruitment landscape.

In fact, perhaps one of the biggest enablers of such advancements will be more engaging and personalized employee experience, improving productivity whilst keeping costs down.

Yet it’s still early days and the changes these technologies, and their true potential, remain largely unknown.