MANY LAW FIRM LEADERS TAKE justifiable pride in the progress
they’ve made with integrating lateral
partners. Yet, retention rates continue
to disappoint, and we hear increasingly
of laterals having malpractice issues. Our
inaugural survey identifies the leading
challenge encountered by lateral partners: They do not attract enough new
business to their newly-joined firms.
This is a business case problem in itself and could be contributing to malpractice risk as new laterals stretch the
natural scope of their practice to secure
work. Our survey also identifies the
FIRMS ARE FAILING TO DO THE NECESSARY
DUE DILIGENCE ON LATERAL RECRUITS,
A NEW SURVEY SHOWS.
BY HUGH SIMONS AND MICHAEL ELLENHORN