Partners with big books of business have a buffet of choices when considering a move to a new law firm, creating a tough task for firms vying to lure lateral rainmakers.
Point Out the Synergies
According to Ronald Nye, managing partner of Major, Lindsey & Africa LLC's Chicago office, the key to scoring lateral rainmakers lies in creating pitches that are extremely tailored to the specific lawyers and their practices, pointing out ways in which firms can benefit them.
"Making a narrow, specific pitch to the individual is big," Nye said. "And being able to differentiate your firm in the market — why this law firm is a better place for his or her practice than where they are currently."
Nye said that firms or the recruiters working for them should frame pitches in a way that highlights specific needs the firms and their clients have and the ways in which the partners can fill those voids.
Perfect the Recruiting Process
Having an efficient recruiting process and a streamlined conflicts process is essential to moving laterals down the path from simply being interested to making those moves a reality, according to Nye.
"Having a good, streamlined conflicts and recruiting process shows the firm's commitment to recruiting the individual partner, but it's also a window into the management of the firm and how it's run," he said. "Lawyers should get a good impression of the firm and how it's managed."