Beyond Red Flags: Deploying Positive Intel from Due Diligence
We admit it: Sometimes it’s tempting to lead with the negative information from pre-hire investigations. Bullying behavior, inflammatory social media posts, fabricated client relationships – these (very real) examples raise eyebrows, and in turn raise awareness of the importance of due diligence. It is critical to uncover any bad surprises with potential hires, to be […]
More Women Partners Depart, Compensation Gap Widens in 2022
When looking at the data, 2022 not only confirmed what is known throughout the profession – there aren’t enough women partners, and they still aren’t being paid equally. In fact, the compensation gap – and the gap between hiring and departures – is widening. In 2022, more women partners departed their current positions – either […]
Good Turnover or Bad Turnover? Four Ways to Analyze Your Firm
The average turnover for AmLaw 200 firms is 26.3 percent, according to analysis by Decipher Investigative Intelligence – so simply put, for every four lawyers at your firm, one will swap out every year. “Turnover” can be a loaded term, and one that is frequently misunderstood. Let’s start with the math: To determine the state […]
Q1 Moves Signal End of Gold Rush and Start of Holding Pattern in Hiring
With a quarter of 2023 in the books, it’s safe to say the lateral gold rush has slowed to a mellow stream. According to data tracked by Decipher Investigative Intelligence, lateral moves across all titles are down by 48% – nearly half – when comparing 2023 Q1 vs. 2022 Q1. Associate moves are down by […]
Turnover: Your Secret Weapon for a Better Law Firm
When it comes to law firm turnover, there are two things you must know: It’s higher than you think it is. That doesn’t have to be a bad thing. Let’s dive into the numbers first. To determine the state of turnover in the legal profession, the data team at Decipher Investigative Intelligence examined every law […]
Who Has the Hot Hand in Lateral Partner Hiring?
While 2021 saw lateral moves more than double year-over-year, fueled by six-figure bonuses for associates and law firms chasing rainmakers, a different class of lawyers gained the upper hand during 2022. Mid-level partners. While 2022 wasn’t as spectacular as 2021 in terms of the sheer number of moves across the profession, it was another great […]
Let’s Talk About Comp: Key Trends and Benchmarks for Lateral Hiring
It’s January, which means it’s comp season for many law firms…soon to be followed by an influx of lateral candidates who were unhappy with their pay, looking to cash in on a good year, or, maybe, being encouraged to “consider other professional opportunities.” It’s imperative to go into negotiations fully aware of how the market […]
Lateral Acquisition: The Trouble with Networking
This article appeared in Law.com as Relying On Your Networks for Lateral Referrals is a Losing Proposition on August 23. By Michael Ellenhorn, Decipher Investigative Intelligence It’s a common scenario: A law firm wants to grow a specific practice area by acquiring a lateral partner (or team) with a solid reputation and a portable book […]
Laterals and Malpractice: Clear and Present Danger
Even before the COVID-19 pandemic, hiring lateral partners was an inherently risky endeavor. In 2017, insurance broker Ames & Gough released a survey of legal professional liability insurers specifically calling attention to the risks associated with laterals. That year, nearly half the insurers Ames & Gough polled – which represent the majority of the Am […]
Lateral Recruitment: Just How Portable Is That Book?
Hiring lateral partners can be an irresistible proposition for law firms seeking immediate growth. According to a recent survey by Decipher Investigative Intelligence, 79 percent of law firms listed business generation as the first or second most important quality in a lateral candidate. And yet, on this point, lateral hiring leaves much to be desired […]
