I see it over and over again. Too often, laterals don’t succeed.
The firm hires a 🌟 partner with an impressive 📕 of business, or previous government experience, rolls out the red carpet, and then… the integration stalls. Clients don’t materialize. The lateral moves on, leaving the firm with a loss of time, money, and opportunity.
As a marketer involved in strategy, I see a few patterns. At its core, generally the problem isn’t about the lateral partner. Specifically, it’s about the firm’s culture, comp structure, and—perhaps most overlooked—its marketing and business development strategy.
If firms want laterals to succeed, they need a plan.
🏵️ A “Welcome Partner” Culture
Many law firms want laterals, but they aren’t always ready for them. Too often, existing partners view new laterals as competitors rather than collaborators. It’s subtle but powerful—the laterals aren’t invited to key client meetings, introduced to institutional clients, or truly brought into the fold.
For a lateral to thrive, they need buy-in from the firm’s leadership and practice group 🗣️ s. Actively involve them in strategy discussions, place them on cross-practice projects, and encourage their success.
🏵️ Integration and Cross-Selling Plans
Without a structured integration plan, laterals are left to fend for themselves. They don’t always know how to navigate the internal politics and processes of their new firm.
Integration should include:
1. A clear introduction to practice groups and firm leadership – Who are the key players, and how can the lateral partner best collaborate with them?
2. A client-sharing strategy – How can the lateral’s clients benefit from the firm’s existing strengths? And how can existing partners leverage the lateral’s expertise?
3. A BD roadmap – What specific steps will be taken in the first 6 months to help the lateral establish themselves?
🏵️ Compensation That Rewards Collaboration
If the firm only rewards individual origination and doesn’t incentivize collaboration, the lateral will struggle. Why would existing partners introduce the lateral to their clients if there’s a disincentive?
Firms that get lateral hiring right have models that encourage teamwork. They reward partners who share clients and bring laterals into new matters. This isn’t just good for the lateral—it’s good for the entire firm.
🏵️ Marketing and BD Support
Laterals need strong marketing and BD support. They need a full-scale effort that introduces them to the firm’s clients and broader network. Only with experienced staff dedicated to this work, can a firm truly support laterals.
Laterals don’t often fail because they lack talent. They fail because they aren’t set up for success. When a firm takes the time to integrate, support, and market their laterals properly, they see stronger retention, higher revenue, and better overall firm performance.
