Why Firms Need a Smarter Lateral Hiring Strategy
Lateral partner hiring plays an important role in a law firm’s growth strategy, whether the objective is to strengthen a practice, enter a market, expand client capabilities, address succession, or add specific experience and relationships.
LawVision helps law firm leadership build the strategy and infrastructure behind lateral partner hiring: defining who the firm wants to attract, how candidates should be evaluated, how the hiring process should successfully operate, and how lateral hiring connects to the firm’s broader growth priorities.
Align Lateral Hiring With Firm Strategy
A lateral partner strategy starts with the firm’s objectives.
LawVision works with leadership to translate those objectives into clear lateral hiring priorities based on areas such as:
- Practice growth
- Industry strengths
- Geographic expansion
- Client opportunities
- Succession needs
- Leadership capabilities
- Complementary practices
- Strategic gaps within the firm
This creates a framework for evaluating lateral opportunities against defined firm priorities.
Define the Lateral Partners the Firm Wants to Attract
LawVision helps firms develop a clear profile of the partners and groups that fit their strategy.
That profile can incorporate:
- Practice and industry experience
- Client base and relationships
- Financial expectations
- Geographic reach
- Leadership capabilities
- Business development potential
- Cross-selling opportunities
- Cultural alignment
- Strategic fit
With the target defined, the firm can approach lateral hiring more deliberately and evaluate candidates against consistent criteria.
Build a Proactive Lateral Partner Recruiting Strategy
A strategic lateral program can include both evaluation of opportunities that come to the firm and proactive identification of partners and groups that align with its priorities.
LawVision helps leadership develop a structured approach to market mapping and lateral targeting, including:
- Identifying priority practices and markets
- Developing target-partner criteria
- Building target lists
- Coordinating internal and external recruiting resources
- Clarifying the firm’s value proposition
- Supporting recruiter engagement, sales messaging and market positioning
The objective is to connect lateral recruiting objectives and activity directly to the firm’s growth strategy.
Strengthen Lateral Candidate Evaluation and Interviews
The lateral hiring process serves two purposes: the firm is evaluating the candidate, and the candidate is learning and evaluating the firm.
LawVision helps firms design an interview and evaluation process that accomplishes each objective.
This can include:
- Interview structure and sequencing
- Interviewer roles
- Candidate questioning and evaluation criteria
- Financial and strategic assessment
- Consistent internal communication
- Candidate messaging
- Decision-making responsibilities
- Process timing and coordination
- An overall positive candidate experience
The result is a disciplined process that gives leadership the information needed to evaluate the opportunity while clearly presenting the firm to the candidate.
Build the Infrastructure for a Consistent Lateral Program
LawVision can help firms establish or strengthen the processes, tools, and accountability supporting lateral partner hiring.
Depending on the firm, that work may include:
- Lateral hiring priorities and planning
- Candidate profiles and evaluation tools
- Recruiting strategy
- Interview structures and questioning
- Internal approval processes
- Roles and responsibilities
- Candidate communications
- Decision-making protocols
- Integration planning and execution
- Program measurement and review
The program is designed around the firm’s governance, culture, growth strategy, and existing resources.
Connect Lateral Hiring, Integration, and Retention
Lateral partner hiring does not operate in isolation.
The information gathered during recruitment should support integration. The experience of integrating laterals should improve future recruiting and evaluation. Retention provides another source of insight into what partners value in the firm.
LawVision helps leadership connect these stages into one cohesive lateral talent strategy.
The result is a lateral program built around the firm’s long-term strategic objectives rather than a collection of disconnected processes.
Contact Laurie Caplane today to discuss.
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