Most Lateral Lawyer Hires Don’t Meet Revenue Expectations

A majority of lateral-hire lawyers fail to meet revenue expectations in their first year, according to a survey by ALM Intelligence. The survey found that 30 percent of lawyers hired laterally delivered less than half their expected book of business in that time, and another 21 percent of such hires deliver only half to three-quarters of what was expected. Some hiring partners fail with lateral moves because they trust their gut instinct, rather than doing due diligence, survey author Steve Kovalan told Law.com. “A hire that fails to meet this standard can be doomed regardless of the candidate’s legal skills or business acumen,” Kovalan said.