Partners

The First 90 Days: Lateral Partner Onboarding And Integration

What Lessons Can Law Firms Learn From the Corporate Sector?

For years now, the legal sector has been wringing its hands over the perceived flaws in lateral partner hiring as a growth strategy. Anecdotally at least, it seems that as many of the problems with lateral partner hiring result from poor integration as much as they do from poor selection processes.

Is It Worth Hiring Stars? Lateral Partner Hiring And The Myth of Talent Portability

“Hiring a star should be a well-thought out strategic decision, not a knee-jerk reaction to a perceived opportunity or emergency. Generally speaking, a firm should contemplate hiring a star only to fulfill a specific operational aim: to raise standards or introduce fresh ways of doing business or to fill a critical slot when there is no time to train anyone internally ...

 

Picture This: Partner Engagement

Lateral partner movement is up, but the jury is still out on how useful laterals are to a firm’s long-term financial health. There is, of course, the role (or lack thereof) of strategic planning and process-design in failed partner acquisitions, but what about the emphasis we put on the value of our employees?  So I took a moment to daydream about the perfect firm.

If You Don't Want The Answer, Don't Ask: Upward Reviews - Evaluating Law Firm Partners

Now that associate retention has firmly established itself again as a management issue at many law firms, upward review programs are not surprisingly back on the agenda. Over the last year or so, the post-recession balance of power has shifted back to the associate body in many law firms. With that shift come renewed calls from associates for the opportunity to evaluate senior colleagues.

How To Make Drafting Your Year End Partner Compensation Memo Less Unsavory: Phase IV, Feedback

Now that you’ve written your first draft of your memo, you’re more than half way to the finish line.  It might be tempting to end the process here and be done with it. Understandable. To ensure that your memo has optimal impact, however, we suggest getting feedback from at least one, if not more sources.  Business development can often feel like a lonely journey so why not invite others into your process? This will maximize support and ensure that you’ve approached your memo, both looking back to last year and ahead to the coming year, from as many angles as possible.