Lateral damage: failed hires cost London dear

With attrition rates for lateral hires running at 31 per cent, firms need to improve their City recruitment strategies.

When last year I revealed in The Lawyer (14 February 2011) that around a third of partners hired into London law firms were failing before five years, it was the first time anyone had put figures on what many had long suspected – that lateral partner hiring is a devilish business that goes wrong a lot of the time.

This year’s research takes things   on, encompassing 2,295 hires into UK, US and merged US-UK firms in London from 2005 to 2011. Of those hires, 714 (31 per cent) have already left the firms they were hired into.

Read the rest of this article at The Lawyer

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