Credit: Inna/Adobe StockProcesses, Challenges and Solutions In Lateral Partner Integration
Tips and shared advice from lateral integration professionals provide creative, practical and streamlined solutions to law firm marketers involved in the lateral integration process.
February 06, 2025 at 12:04 PM
7 minute read
By Vivian Hood
What You Need to Know
- Lateral market trends forecasting record activity in Q4 of 2023.
- With nearly half of lateral hires leaving within five years, retention has become more crucial than ever.
- As lateral moves and firm mergers increase, ensuring successful integration is key to securing long-term growth and stability.
As law firms strategize to enhance their lateral partner hiring processes, they face mounting challenges, particularly with lateral market trends forecasting record activity in Q4 — despite a 35% decline in 2023. With nearly half of lateral hires leaving within five years, retention has become more crucial than ever. As lateral moves and firm mergers increase, ensuring successful integration is key to securing long-term growth and stability.
How can law firms improve success with retaining lateral hires? A recent discussion of trends, obstacles and best practices for lateral integration featured Elizabeth Kennedy, principal with NewEdge BD; Erin Ryan, director of partner integration & business development coaching at McGuireWoods; and Megan Henry, lateral partner integration manager at Bradley, at the 2024 Legal Marketing Association Southeast Regional Conference.
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