Partner Recruiting: Pro Tips for Getting it Right

Antony: We hear a lot about partner recruiting having a low success rate. What does that mean?

Chuck: Historically, partner recruiting has had about a 50% success/retention rate over five years, trending slightly upward over the last few years. However, firms still invest in it because successful lateral partners can drive significant growth. Top firms, typically those in the Am Law 30, often recruit for two reasons: to dominate key practice areas by attracting high-revenue partners, or to bring in service partners to support existing workloads in those same key practice areas. Outside of those firms, lateral hires are generally expected to bring in clients and generate revenue—but success takes time. That’s a key reason why cultural fit and being a good firm citizen are just as important as the size of a partner’s book of business to most firms.

Antony: What are service partners, and how do they fit into a firm’s structure?

Chuck: Service partners can be both specialists supporting lead partners and partners with the same expertise as the lead partner who help service large client demands. For example, a high-profile partner bringing in a massive transactional practice requires a strong team of experts around them, including specialists in areas like Tax, ERISA, Compensation & Benefits,  Intellectual Property, Finance, Real Estate etc., to provide full service to their key clients on their major deals.

Antony: Do you rely on a strategy team for determining partner hiring strategy, or is it more market intuition?

Chuck: It’s a mix. Ideally, firm management or the board sets the strategic direction, but it’s challenging. Prioritizing certain hires can upset partners, especially in large firms, that feel marginalized if their practice area is not one of the firm’s top strategic priorities. Some firms waffle due to that concern, but in my experience the best have a clear focus and direction. A number of Am Law 15 firms focus on dominating certain areas (Private Equity, Emerging Growth etc.) that are in line with their strategy, and they have the financial resources to make big investments in those areas. The clearer the firm’s strategic direction, the easier it is for everyone to execute.

One big red flag is when a candidate overstates their client relationships—claiming client control or relationships they don’t really have.

Antony: How do firms prepare for integrating new partners?

Chuck: Successful firms start integration during the interview process, connecting candidates with key partners in their areas of expertise early on. Additionally, firms will conduct their own thorough due diligence on the partner’s practice and clients in order to assess the business case and cultural fit in advance of an offer decision, which is a natural lead-in to successful integration.

Antony Cooke: You mentioned the due diligence process. What red flags do you watch out for? Are there moments when someone looks good on paper but less so in person? What should the market be cautious about?

Chuck: One big red flag is when a candidate overstates their client relationships—claiming client control or relationships they don’t really have. We would always dig into who actually owned the client relationship. Sometimes, a partner may think they control a client, but often it’s really more of an institutional client  or another partner is actually the key client contact.

Also, candidates from big firms—especially the Am Law 30—might indicate a huge book of business, but frequently at those large firms the clients are institutional, and not tied to a particular partner. That’s an area that requires significant internal diligence to determine how influential that partner is with a major firm client. Another warning sign is if a partner anticipates bringing a team but the team doesn’t follow. A strong team is crucial to a partner with a big practice. If key team members don't join a partner at his/her new firm, it suggests the partner might not be as strong of a leader or as much of a team player as expected.

Antony: When you hire a partner, what risks does the firm face—such as to reputation or bottom line? What do you try to avoid?

Chuck: You want the hire to be well-regarded in the market. No one wants backlash like, “Why did you hire that person?” Thankfully, that’s rare.

A less glamorous but critical risk is conflicts of interest. We were very careful with conflicts, but sometimes partners don’t disclose everything up front or the conflict's situation is murky. We’ve had cases where partners got conflicted out of work they expected to bring, which made integration extra challenging.

In the US, conflicts can be a huge issue. There have been firms disqualified from major matters because a lateral hire’s prior knowledge of a client created a conflict—sometimes even leading to firms being conflicted out of matters involving very significant clients. Fortunately, we usually avoid that game changing scenario, but it’s a serious risk and conflicts must be thoroughly vetted before a partner joins your firm.

The worst-case scenario (and a recruiter’s nightmare) is hiring a partner and losing a big client due to an undisclosed conflict. 

Antony: What did your firm do to onboard partners and set them up for success?

Chuck: We believed Integration started as early as possible. We had a detailed 12-page integration plan for each partner, involving marketing, practice group leaders, and a dedicated integration partner. We would track their performance monthly through accounting reports shared with the Firm’s Executive Team, Board and practice group, and business unit leaders.

We would focus on connecting new partners with key people—both clients they brought  and existing firm clients—so they could contribute effectively. We regularly checked in with our lateral partners to ask how we could support them better and ensure they felt like part of the team. We also provided solid internal support—conflicts clearance, secretarial help, office needs—to show we ran a professional, partner-friendly integration experience.

Coming soon... Partner Integration: Pro Tips for Getting it Right

Further reading: How to Become a Law Firm Partner

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