Part of
a lateral hiring plan should include a repayment plan for the debt incurred.
Not exact matches
Effective
lateral integration requires thoughtful coordination from many parts of the firm, such as intelligent scouting and
hiring, coordinated efforts from key firm leaders, improved communication, cross-selling, aligned compensation, customized training,
planning and coaching, and proper goals and measures.
LG has made its first Singapore
lateral hire since launching in the region last spring, as the firm sets out growth
plans for the office.
And while some key
hires did come aboard in 2011 — including bankruptcy partner M. Natasha Labovitz from Kirkland & Ellis and financial institutions partner Ethan James from Davis Polk & Wardwell — Blair says he does not have
plans for major
lateral growth this year either.
Among other things, the report looks at the
hiring process for partners in three distinct stages —
Planning, Process and Integration — and introduces a new methodology for calculating when
lateral hires break even.
A systematic analysis of
lateral hiring is just the first step in executing on a
plan to use
laterals to drive law firm growth.
Lateral partners should rarely be
hired if they do not fit clearly into an important, pre-determined strategic
plan of the firm.