Lateral hiring is a necessary part of the changing legal landscape, and it can yield mutually beneficial results for both attorney and law firm. For the attorney, a lateral move can improve advancement possibilities, while also potentially providing a greater platform for clients, different work-life balance and better compensation. For the law firm, lateral additions can increase revenue, expand or deepen the bench in certain practice areas and achieve growth objectives.
Of course, lateral hiring brings with it risks. In some situations, firms acquire other firms’ problems without the reward, or with unforeseen conflicts. Many law firms try to prevent unnecessary risk in hiring lateral attorneys by adopting practices, protocols and procedures.
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