Blueprint for Lateral Partner Success: A Centralized Integration Process is Key

A well-structured, Centralized Lateral Integration Process will improve your firm’s efficiency and success with integrating laterals. It will also make the process more professional and less stressful for your laterals. Here's how:

1. Clear Responsibilities: By defining and agreeing on roles and responsibilities in advance, everyone involved in the process knows exactly what’s expected of them.

2. Strategic Alignment: Integration initiatives are prioritized to align with the firm's and the laterals' strategic objectives, ensuring that everyone is moving in the same direction.

3. Early Engagement: BD and other departments are brought into the loop as early as possible, allowing for better preparation while maintaining the necessary confidentiality.

4. Tailored Recruiting Materials: Recruiting teams are provided with up-to-date, relevant collateral, to equip lateral candidates with a clear understanding of key firm strengths early in the process.

5. Scheduled Tasks: Tasks are identified and set on a schedule queuing off of the start date, preventing anything from slipping through the cracks during the hectic first days.

6. Advanced Preparation: A significant amount of the work can be scheduled to be prepared, handled, and approved before the start date, allowing for a smoother onboarding process.

7. Cross-Department Coordination: Cross-practice and department coordination and communication can be built-in to keep laterals from getting caught in a silo. This collaboration also facilitates the sharing of best practices and effective tools.

8. Transparent Monitoring: With a clear project plan in place, stakeholders can easily monitor progress and ensure that any potential issues are addressed promptly.

Seeking Your Insights

I’ve developed a process designed to deliver these benefits and have been refining it with feedback from firms of all sizes and lateral activity levels. Now, I’m seeking input from in-house recruiting professionals. If you or someone in your firm is interested in reviewing this process and sharing your insights, I’d love to hear from you. Your feedback could be invaluable in helping refine this tool to meet the diverse needs of our industry.