In a flat market where organic growth is increasingly difficult to achieve, firms continue to bank on the (considerable) benefits that can accrue from lateral hiring. However, there are still considerable risks.
The newcomer may fail to perform as expected or even make an expensive exit shortly after arriving, their book of business is not as profitable (or as portable) as it first appeared to be, their arrival could upset the cultural apple cart, or that they could be the cause of unforeseen client conflicts.
But the potential payoff when firms do make the right hire make up for all the failed attempts. ARK Group's new book Smarter Lateral Hiring for Law Firms is designed to help all firms reassess and strengthen their lateral strategy and processes in line with best practices.
Smarter Lateral Hiring for Law Firms considers the main issues arising from a strategy of growth through lateral recruitment and shares practical steps that firms should be taking both pre- and post-hire, and on an ongoing basis, that can help them to sidestep common pitfalls and maximize the contributions of their laterals.
With contributions from a range of legal recruiters, consultants, academics, and law firm HR and marketing/BD professionals Smarter Lateral Hiring for Law Firms shows there are steps all firms can take to ensure they approach lateral recruitment in a more structured way, make better decisions and improve their lateral batting average.
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