Many law firms look to grow through lateral hires rather than through new graduates, and most large firms have hired laterally in recent years. Hiring laterally does not guarantee success. A substantial share of lateral hires leave within five years, and a report by JD Match and Right Profile calculated that the top 400 law firms lose roughly $9.1 billion a year to turnover. So alongside a solid program for hiring laterals, a firm has to develop the art of integrating them.
Eighteen ways a lateral hire goes wrong
Most lawyers do their best work among people who share their goals and outlook. An experienced lawyer considering a move usually knows what environment suits, and wants to feel accepted and part of a team. For many, that sense of belonging weighs nearly as heavily as the number on the offer. A firm that is welcoming, culturally and socially, attracts good people and, more to the point, keeps them.
Four Ways to Make a Lateral Hire Welcome
1. Follow a plan built to welcome and integrate lateral hires. Include the attorneys the new partner will work alongside, senior and junior partners, and anyone else critical to their success. Meet in the office, and also over lunches and dinners. Encourage informal contact.
2. Communicate all pertinent information, including:
- A complete list of current legal staff and their bios.
- Relevant information on key firm clients.
- Information on business development strategies, marketing tactics, and the resources available for these essential activities.
- A printed guide that covers office procedures, policies, and customs.
- An overview of billing procedures.
- Realistic expectations at set benchmarks: ninety days, six months, the first year and the second.
3. Designate a leader for the integration, or in a larger firm someone in each department involved. Choose people who understand what careful integration is worth over time, and hold them accountable for their part.
4. Recognize and use the new partner’s best skills. Study the practice and client base they bring, and identify where they and current partners can be of value to each other. Involve them early in matters that use those strengths, and in firm-building work such as strategy discussions. Introduce their capabilities to the rest of the firm. Knowing what a lateral brings makes the arrangement reciprocal, and it builds the connections the hire depends on.
It is better to spend time and money on integration than on turnover. A focused effort pays off in a connected, loyal team and in the bottom line.