Lateral hires: Implementing a successful integration process
June 26, 2013
Location
tba
tba
London,
United Kingdom
Description
Has your firm developed a strategy to ensure lateral hires don't fail?
A recent study indicates that a third of the 2,763 partner hires made between 2005 and 2012 were no longer with the same firm. The study reveals that areas such as corporate and finance are the toughest to hire partners successfully, while 80% of real estate partners hired in 2005 have since moved on*.
In the increasingly competitive legal market, ensuring your firm has the 'best people' is critical to business development and boosting your firm's competitive edge. However, the cost of a failed lateral hire has a variety of harmful consequences for your firm.
The study shows that even 'a 15 to 25 per cent drop out, at a cost of £100,000 per hire not including actual losses of background costs while in place, makes it a pretty expensive game'**.
It is the ability to successfully integrate a lateral hire partner into a new firm which is essential to successfully achieving a firm’s strategic recruitment objectives.
Organized by
Ark Group
6-14 Underwood Street
London, N1 7JQ
United Kingdom
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