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Lateral Partner Recruiting Effective Use Of Search Professionals

By Brion Bickerton and Natasha Ciancutti
March 30, 2005

Cravath, Swaine & Moore, one of New York's elite law firms, recently hired its first lateral partner in over 60 years. While an exception at Cravath, hiring lateral partners has become an indispensable strategy for law firms in achieving important business objectives and in thriving in hotly competitive markets.

Whether it is developing a national practice in mass tort litigation, opening up a branch office in Hong Kong or Beijing, or establishing a biotechnology patent practice, hiring lateral partners is a necessary means to reach those goals. All too often, though, firms fail to meet their lateral hiring objectives because of an inadequately designed hiring program. One critical feature of an effective hiring program at this level is partnering with experienced legal recruitment professionals. The two most important decisions facing a law firm in engaging a search professional are: 1) selecting the right search firm or firms; and 2) deciding whether to engage that search firm on a retained or contingent fee basis. The decision about retained versus contingent search may also influence the selection of a recruiting firm.

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