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How to Make Sure that Your Laterals Provide Value to the Firm

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Most law firms have taken on a lateral who didn't produce as expected because something fell through the cracks during due diligence:
How to Make Sure that Your Laterals Provide Value to the Firm
  • Find out why lateral prospects want to leave their current firms. It usually takes about two years for firms to get bad hires out the door, so the timing may tell you whether your candidates are leaving of their own volition. It's a bad sign if they've only been at their current firm a short time. Because the legal community is small, if you e-mail the names of your lateral candidates throughout your firm, you'll probably find someone who knows them or their story.
     
  • Consider your firm's client base. Will your lateral hire's expertise mesh with your clients' needs? Also, you're looking for laterals who know your firm's industries and have an interest in meeting their needs. "If it's the tobacco industry, for instance, and [candidates] have a major problem with it, you know they're not going to make a very good representative for your firm."
     
  • If prospects' portables match your firm's needs, get them in for interviews as quickly as possible—and stick to what's important to your firm. "I had one client [candidate] who had more than $3 million in business, and the partner wanted to know what her GPA was; she'd been out of law school for 15 years," according to BCG Attorney Search. "She had no time for that and went with a different law firm. As far as I know, no general counsel has ever asked an attorney about his or her GPA."
     
  • Look in-house to broaden your pool of prospects. In the past, few firms looked at in-house attorneys, thinking that they lacked experience with complicated matters, but that has changed since in-house departments now keep much of the work that once went to outside law firms.
     
  • Order your priorities. Profits per partner should come first if you expect the lateral to come into your firm with portable business. Next, make sure his or her practice fits with your firm. Finally, consider whether the prospect will fit into your firm's culture.
     
  • Require solid documentation of what candidates have billed for the past three years.
     
  • Get breakdowns on associates who have worked with your prospect as well as information on the number of hours your prospect has billed and his or her billing rate. Run the numbers, BCG Attorney Search advises. If candidates maintain, for instance, that they made $1.8 million last year and they had a $ 10-million book of business, "go through the dollars and make sure everything adds up/'
     
  • Talk with general counsel if your lateral prospect is coming from an in-house position. Despite the risks involved, we believe these lawyers have no choice but to tell their current employer that they're looking to move on and will need a reference. And if you have someone in a law firm wanting to work for your firm who says company X accounts for millions of dollars in potential business, get permission to have your hiring partner call the general counsel and ask how long he or she has worked with your prospect, determining whether the person is reputable and even expects to follow the candidate to your firm. "It's perfectly ethical for attorneys of outside firms to contact their clients to let them know they're considering leaving." Moreover, if attorneys are leaving for another firm, the ethical thing is for them to give the general counsel time to find a new attorney, if need be.
     
  • Match profits per partner with your prospect's portables. Most firms want [laterals] with $2 million or $3 million in business, if their profits per partner are about $750,000. Attorneys are always trying to do better, and if they've outgrown their firm because they have $3 million in business and profits per partner of $500,000, they want to move up. Also, junior partners with a lot of energy [tend to jump ship if they think] their firm is starting to stagnate.
 
 
Interested in Learning More About Legal Hiring? Read the Definitive Guide:

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About Harrison Barnes

Harrison Barnes is a prominent figure in the legal placement industry, known for his expertise in attorney placements and his extensive knowledge of the legal profession.

With over 25 years of experience, he has established himself as a leading voice in the field and has helped thousands of lawyers and law students find their ideal career paths.

Barnes is a former federal law clerk and associate at Quinn Emanuel and a graduate of the University of Chicago College and the University of Virginia Law School. He was a Rhodes Scholar Finalist at the University of Chicago and a member of the University of Virginia Law Review. Early in his legal career, he enrolled in Stanford Business School but dropped out because he missed legal recruiting too much.

Barnes' approach to the legal industry is rooted in his commitment to helping lawyers achieve their full potential. He believes that the key to success in the legal profession is to be proactive, persistent, and disciplined in one's approach to work and life. He encourages lawyers to take ownership of their careers and to focus on developing their skills and expertise in a way that aligns with their passions and interests.

One of how Barnes provides support to lawyers is through his writing. On his blog, HarrisonBarnes.com, and BCGSearch.com, he regularly shares his insights and advice on a range of topics related to the legal profession. Through his writing, he aims to empower lawyers to control their careers and make informed decisions about their professional development.

One of Barnes's fundamental philosophies in his writing is the importance of networking. He believes that networking is a critical component of career success and that it is essential for lawyers to establish relationships with others in their field. He encourages lawyers to attend events, join organizations, and connect with others in the legal community to build their professional networks.

Another central theme in Barnes' writing is the importance of personal and professional development. He believes that lawyers should continuously strive to improve themselves and develop their skills to succeed in their careers. He encourages lawyers to pursue ongoing education and training actively, read widely, and seek new opportunities for growth and development.

In addition to his work in the legal industry, Barnes is also a fitness and lifestyle enthusiast. He sees fitness and wellness as integral to his personal and professional development and encourages others to adopt a similar mindset. He starts his day at 4:00 am and dedicates several daily hours to running, weightlifting, and pursuing spiritual disciplines.

Finally, Barnes is a strong advocate for community service and giving back. He volunteers for the University of Chicago, where he is the former area chair of Los Angeles for the University of Chicago Admissions Office. He also serves as the President of the Young Presidents Organization's Century City Los Angeles Chapter, where he works to support and connect young business leaders.

In conclusion, Harrison Barnes is a visionary legal industry leader committed to helping lawyers achieve their full potential. Through his work at BCG Attorney Search, writing, and community involvement, he empowers lawyers to take control of their careers, develop their skills continuously, and lead fulfilling and successful lives. His philosophy of being proactive, persistent, and disciplined, combined with his focus on personal and professional development, makes him a valuable resource for anyone looking to succeed in the legal profession.


About BCG Attorney Search

BCG Attorney Search matches attorneys and law firms with unparalleled expertise and drive, while achieving results. Known globally for its success in locating and placing attorneys in law firms of all sizes, BCG Attorney Search has placed thousands of attorneys in law firms in thousands of different law firms around the country. Unlike other legal placement firms, BCG Attorney Search brings massive resources of over 150 employees to its placement efforts locating positions and opportunities its competitors simply cannot. Every legal recruiter at BCG Attorney Search is a former successful attorney who attended a top law school, worked in top law firms and brought massive drive and commitment to their work. BCG Attorney Search legal recruiters take your legal career seriously and understand attorneys. For more information, please visit www.BCGSearch.com.

Harrison Barnes does a weekly free webinar with live Q&A for attorneys and law students each Wednesday at 10:00 am PST. You can attend anonymously and ask questions about your career, this article, or any other legal career-related topics. You can sign up for the weekly webinar here: Register on Zoom

Harrison also does a weekly free webinar with live Q&A for law firms, companies, and others who hire attorneys each Wednesday at 10:00 am PST. You can sign up for the weekly webinar here: Register on Zoom

You can browse a list of past webinars here: Webinar Replays

You can also listen to Harrison Barnes Podcasts here: Attorney Career Advice Podcasts

You can also read Harrison Barnes' articles and books here: Harrison's Perspectives


Harrison Barnes is the legal profession's mentor and may be the only person in your legal career who will tell you why you are not reaching your full potential and what you really need to do to grow as an attorney--regardless of how much it hurts. If you prefer truth to stagnation, growth to comfort, and actionable ideas instead of fluffy concepts, you and Harrison will get along just fine. If, however, you want to stay where you are, talk about your past successes, and feel comfortable, Harrison is not for you.

Truly great mentors are like parents, doctors, therapists, spiritual figures, and others because in order to help you they need to expose you to pain and expose your weaknesses. But suppose you act on the advice and pain created by a mentor. In that case, you will become better: a better attorney, better employees, a better boss, know where you are going, and appreciate where you have been--you will hopefully also become a happier and better person. As you learn from Harrison, he hopes he will become your mentor.

To read more career and life advice articles visit Harrison's personal blog.


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