Leopard Solutions Publishes Inaugural Lateral Partner Hiring Survey
December 18, 2024
December 18, 2024 [New York, NY] – Leopard Solutions, the premier provider of legal business intelligence and analytics, today published the results of its inaugural 2024 Lateral Partner Hiring Survey conducted in partnership with Wisnik Career Enterprises. This survey, which captures responses from nearly 100 legal industry professionals specializing in talent acquisition and recruitment, underscores the transformative impact of lateral hiring on law firm growth and strategy.
The survey data reveals an evolving landscape where proactive strategies, diversity initiatives, and operational refinements are pivotal. These insights illuminate how firms are navigating the complex dynamics of lateral hiring to drive growth and maintain competitiveness. Firms are increasingly prioritizing proactive recruitment strategies, with 69% of respondents focusing on identifying and sourcing lateral candidates. This aligns closely with the emphasis on strategic planning, noted by 64%, which highlights the importance of integrating lateral hires with long-term organizational goals. Additionally, the data indicates that strengthening practice areas is the leading driver of lateral partner recruitment, with 39% of respondents identifying this as their focus. Firms are demonstrating less interest in geographic expansion or client-centric market share growth, reflecting a measured and targeted approach to enhancing specialized expertise and meeting client demands.
“Lateral hiring in the legal industry has evolved significantly, reflecting the growing strategic importance of this recruitment practice for law firms,” said Laura Leopard, Founder and General Manager of Leopard Solutions. “Insights from our inaugural survey paint a vivid picture of how firms are refining their strategies to navigate the complexities of lateral hiring while fostering growth and maintaining a competitive edge. Despite early cries of doom at the start of the year, our data shows that the lateral market has been brisk and outpacing entry level hiring once again in the Top 200 firms so far this year.”
Key findings from the survey include:
- Demonstrating the critical importance of revenue contribution, 92% of firms prioritize a candidate’s book of business.
- Specialized expertise (72%) is a close second, reinforcing the demand for niche skills to drive growth in high-demand practice areas.
- Effective sourcing and referral processes are pivotal, as 35% of lateral partner hires come from referrals—partners leveraging their professional networks from previous firms, deals, or associations. Utilizing tools like Leopard Solutions for strategic targeting and implementing streamlined conflict and background checks can reduce inefficiencies, speeding up the hiring process.
- A growing emphasis on gender diversity, with 81% of firms actively recruiting more female lateral partners.
- Cultural and strategic alignment (67% and 51%, respectively) remain vital for ensuring seamless integration and long-term success.
“This marks the most significant growth we have observed in the expansion of recruiting roles within law firms, with 56% of teams focused on lateral partner hiring reporting an increase,” said Eva Wisnik, President & Founder, Wisnik Career Enterprises. “This trend reflects the growing recognition of the strategic importance of dedicated recruitment professionals, as firms increasingly adopt proactive hiring strategies to remain competitive in the evolving legal landscape.”
To learn more about Leopard Solution’s 2024 Lateral Partner Hiring Survey and leading collection of legal intelligence insights, visit www.leopardsolutions.com/thought-leadership/unlocking-success-lateral-partner-hiring-strategies/
About Leopard Solutions
Leopard Solutions, a SurePoint company, is a leading provider of legal market intelligence with over 20 years of experience. We offer real-time, curated insights to help legal professionals enhance their business and recruitment strategies. Serving a broad range of clients—including law firms, recruiters, law schools, and corporations—Leopard Solutions provides data solutions for job searches, recruitment, and competitive intelligence. Our technology is continuously updated to ensure relevance and accuracy, building a strong reputation for reliability.
Leopard Solutions was acquired by SurePoint Technologies, a leading provider of innovative legal software that improves workflow and financial performance for mid-sized law firms.
Learn more at www.leopardsolutions.com.
Contact
Jen Lapierre
Communications Consultant
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