Firms set to make more lateral hires, says report
A new report by LexisNexis finds that law firms are likely continue to make lateral hires as a means of growth in the coming years, with 96% planning to hire laterals in the next two years and 75% expected to hire laterals over the next five years.
The finding is surprising in light of the fact that just 28% of respondents said that hiring laterals had been “very effective” over the past five years, and 10% said the practice was either neutral or negative.
“The number one priority is to generate revenue, and the quickest way to generate short-term revenue is to bring in a lateral partner with a good book of business,” said Russ Haskin, LexisNexis’ director of consulting and services.
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