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Strategies for Promoting Law Firm Lateral Hires
Firms believe they only get one chance to call attention to lateral partner hires. How the initial splash is handled with clients, as well as internal and external communications, is certainly extremely important. However, maximizing lateral hire announcements should really be viewed as a critical kick-off to the overall timeline and success of lateral integration over the first year and beyond.
To ensure the greatest exposure and impact beyond the news of an arrival — and with an eye on long-term client analysis, cross-selling, firm revenue growth and additional tactics — a checklist or strategic plan to maximize the announcement can help achieve desired coverage.
Timing Is Everything
Assuming you’ve already drafted your plan for client, internal and external communications, work with your lateral hire before their start date to have their bio and press announcement ready to go. If you cannot get a formal headshot in time, most publications will accept a headshot taken from a phone. International firms in particular have a “leak problem” with non-U.S. press, so controlling the message may be difficult. You want to announce lateral hires at strategic times to maximize visibility, so avoid late-in-the-day or Friday releases. Additionally, do not expect desirable coverage if you wait weeks to make an announcement. If possible, align announcements with key industry events, such as conferences or major legislative updates, to tap into existing conversations and draw attention to the firm’s growth and expertise.
Competition for News Coverage
In 2024, the Am Law 200 firms hired more than 12,000 attorneys at all levels, according to a report published by Firm Prospects LLC. Publications generally only focus on partner-to-partner moves, however, the report states that 2,728 moves (about 52 per week) were made among the 200 firms, with the top 50 firms accounting for nearly one-third of those moves. Lateral hires spiked in the third quarter and were at a low in the fourth quarter. Because of all this activity, space continues to be at a premium and competition for that space is fierce, even with most news outlets primarily publishing in digital/online formats.
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