Not exact matches
The length of time that a firm remains in one of the above governance cycles depends, to a greater or lesser degree, upon: the firm's economics; its culture; the traditional method of admitting partners - through the firm's career development
program,
lateral hires or combination; the method of allocating profits to the partners and how the system is administered; the personal characteristics, the rainmaking and professional skills of partners whose practice areas are profitable over an extended period of time; and how certain of the more influential partners are perceived by other influential partners.
Though summer associate
programs give firms some opportunity to evaluate a prospective attorney's skills, firms often
hire graduates and
laterals who haven't come up through a summer
program and whose skills are untested.
While working with larger law firms, it has been especially beneficial to cross-tabulate and analyze the results of interviews / questionnaires by (1) ages of the partners, (2) whether the partners are
lateral hires or have progressed through the firm's career development
program, (3) primary practice area (s), (4) office location, etc..
Through the CONFLICTS ESSENTIALS
program, InOutsource can train law firm conflicts staff on the fundamentals of the conflicts rules, how those rules commonly apply to their own firm's practices — as well as to the
lateral hiring and merger process — and how to ensure that conflicts are not overlooked.
Growth has been largely internal, through a strong student recruitment and mentorship
program, supplemented by some key
lateral hires.
The same might be true for law firm
lateral hiring, as stated by a recent ALM survey which found a disconnect between the goals and results of these
programs.