Law Firm Best Practices Blog

Getting Lateral Hiring Right at Your Law Firm

on Jun 5, 2019 6:35:58 AM
Lateral hiring offers law firms the opportunity to bring in new clients and new revenue.  However, with these potential rewards comes significant risks. Research has shown the costs to acquire a lateral candidate, along with their failure rates, to b...
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Combat the Decline of Your Firm with Strategic Recruiting

on Dec 6, 2018 5:58:47 PM
To avoid a phase of decline, law firms must continually work on attracting and retaining new talent.  A well-communicated recruiting plan with monetary incentives for those who actively recruit has the potential to transform a firm immediately.  
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Thinking of Purchasing a Smaller Law Practice?:  Consider These Things

on Mar 13, 2018 3:02:00 PM
  PerformLaw has seen an increase in the number of attorneys interested in purchasing existing law practices rather than starting their own firms from scratch. The purchase of a law practice is not a simple undertaking, but proper due diligence can m...
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Steps to Successful Lateral Hiring

on Mar 18, 2017 9:35:00 PM
Apart from the non-financial factors (reputation, cultural fit, conflicts, strategic benefits, etc.), law firms should carefully analyze the financial implications of a possible lateral transaction.When considering a potential lateral hire, firms sho...
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Safeguards for Admitting Laterals (Part 2)

on Mar 8, 2017 9:59:34 PM
****** READ PART ONE OF THIS SERIES:  Safeguards for Admitting Laterals (Part 1) ***** Workload Distribution and Revenue per Hour   In a lateral transaction, the impact on average revenue per hour has limited meaning.  In other words, it is highly un...
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Thinking Laterals Are the Answer: Improving the Odds, Part 2

on Aug 11, 2015 3:39:54 AM
In our previous article: PART 1: THE OPPORTUNITIES AND THE STRUGGLES we discussed the opportunities that the right laterals can bring to a law firm, along with the struggles many law firms encounter to make good lateral hires that add long term value...
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