Working with a number of lawyers in helping them to transition into their new firms, I can say that this kind of support can speed up the process of successful integration by at least three times. And that is being conservative. All you have to do, is ‘do the math’. Not only will you increase that dismal success rate, you will also speed up the revenue generation of your new partners.
Here is one example of what is possible:
Working with one partner who moved from one national firm to another starting back in September of 2017, I helped him with his transition into his new firm. We looked at who he should approach first to team up with for business development. I helped him to build relationships with his new partners, associates and management.
Starting in September 2017, and after the initial transition period of three months, we then focused on taking his business development efforts to the next level. Fast forward to now, May, and he has already grown his practice beyond himself and successfully built a team of one other partner, two associates, two paralegals and his assistant. That has all taken place since September. Wow! Imagine if you had this same success with more of your lateral hires? What would that look like for your firm?
And it gets better! Once word gets out, and it will, your firm will find it even easier to attract even more high-performing talent. Think about how that will positively impact not only your bottom line, but your firm growth.