case study

Lob

When it was time for Lob, a company that blends software with physical products, to find a new VP of Engineering, they adopted an innovative approach: a fractional-to-full-time hire. Victoria Ashton, Senior Vice President of People at Lob, shares how Go Fractional became a pivotal partner in their recruitment process, enabling the company to make strategic executive hires that drive the business forward.

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What we did

  • Leveraged an Engineering Executive (VP of Engineering) who quickly transitioned to a full-time role.
  • Matched Lob with a fractional CFO who guided them through a period of transformation and was subsequently hired full-time.
  • Provided product leadership to offer diverse perspectives and advance their complex roadmap.

How we did it

  • Understood unique needs:
    • We started with detailed calls to grasp Lob's complex business model and specific leadership requirements.
  • Rapid, targeted matching:
    • Our network allowed us to quickly provide relevant executive profiles, cutting out traditional search firm overhead.
  • Facilitated "trial periods":
    • We enabled flexible engagements, allowing fractional executives to immediately integrate and prove their fit in real-world scenarios.
  • Maintained agile communication:
    • Our team offered constant, adaptive support (via Slack, quick scheduling), mirroring Lob's fast-paced environment and ensuring a smooth process towards full-time offers.
  • Built internal trust:
    • By consistently delivering high-caliber talent, we helped Lob's leadership gain confidence in the fractional-to-full-time hiring strategy.

Fractional to full-time success

When a VP resigned, Victoria pitched the idea of a fractional hire to Lob's CEO, Ryan Ferrier. While initially skeptical, Ryan gave the green light to explore profiles. The very first fractional hire, a VP of Engineering, demonstrated immediate impact. “It was literally three days after he started with us fractionally, Ryan was calling me and asking if we could get a full-time offer out,” Victoria recounts. This led to a full-time conversion within 30 days.

This fractional-to-full-time model has since been replicated at the executive level. Lob’s success with fractional employees can be attributed to:

Access to talent: Go Fractional provides access to a pool of available top talent, particularly in the current market, which may not have been accessible through traditional channels.

Low-risk: Lob values the low-risk period to truly assess a candidate's fit. "We've seen tremendous value in there being sort of a low-risk time period where we can get to know someone and they can get to know us," Victoria explains. Candidates are immediately immersed in the team, gaining a quick sense of reality regarding the role and organizational culture.

Mutual fit: This two-way street ensures that both Lob and the fractional executive can determine if it's the right long-term fit, fostering excitement and conviction when a full-time offer is extended.

Benefits of working with Go Fractional

Victoria emphasizes the partnership with the Go Fractional team. "Everyone at Go Fractional is fantastic to work with," she states. The process, deep understanding of profiles, rapid candidate matching, and entrepreneurial approach have significantly streamlined executive recruiting, offering a contrast to the retained search processes.

Lob has partnered with Go Fractional for a diverse range of executive roles, many of which transitioned to full-time positions:

  • Engineering Executive (VP of Engineering): As mentioned before, the first hire, who transitioned to full-time after just 30 days later.
  • Fractional CFO: Brought on to guide the business through transformation, also transitioning to full-time within 45 days.
  • Product Leadership: Provided support and diverse viewpoints on the complex product side (SaaS and Logistics as a Service).
  • Marketing and Go-to-Market Roles: Lob is currently engaged in searches for these roles to guide the company through its next growth stage (targeting $250M to $500M).

Who Can Benefit from Fractional Executives?

I think what working with Go Fractional has really done is allowed us to have a high level of continuity at the executive level, even if there is attrition or certain situations where there's a gap. I think more than anything, we've just seen projects and initiatives get done, in a way that I don't think would have been possible without the Go Fractional’s support.

Victoria Ashton

Senior VP of PeopleLob
Victoria Ashton

Victoria believes Go Fractional's approach is beneficial for various company stages and situations:

Early-Stage Companies (Seed to Series A): For startups not yet ready for a full C-suite but in need of experienced thought leadership and guidance for early building.

Scaling Companies (Lob's "Teenage Phase"): Companies undergoing organizational changes, adapting their go-to-market strategies, or expanding product lines. This model provides an adaptable and flexible executive recruiting option during periods of significant shift.

Periods of Transformation: When a company needs specific support for a short-term need or to navigate change, the low-risk, high-reward scenario of fractional engagement is ideal.

While the approach is broadly applicable across functions, Victoria notes it's more about the organizational situation than the specific role, emphasizing that it takes an adaptable and flexible existing team to ensure success.

Lob's partnership with Go Fractional has allowed the company to unlock consistent leadership, continuous delivery, and growth.