Onboarding lateral partners and teams is an efficient approach to quickly broaden service offerings, expand the client base, forge new relationships, and bolster capacity. Rightly so, a considerable investment of resources, time, and money is dedicated to acquiring experienced attorneys who can enhance the firm’s strengths. Yet, it is common that after an initial burst of attention, competing priorities take precedence, leaving the vital integration plan unfulfilled. This limited focus and duration often fall short of realizing the envisioned synergies during the recruitment process.
Gladstone addresses this challenge by offering law firms a tailored program that focuses on business development integration. The following are solutions that we can deliver toward your lateral team integration needs:
Achieving Successful Integration:
- Tailored Integration Plan: Develop a comprehensive 3-6-9-12 month plan providing the new partners and team with a roadmap for a seamless transition into the fabric of the firm.
- Relationship Onboarding: Gather and review new partner relationship networks to identify shared contacts and potential synergies for pursuit.
- Training and Development: Conduct business development workshops and coaching programs catering to various experience levels, empowering attorneys to integrate with the firm’s approach and enhance their skills.
- Internal Communication: Share “tear sheet” summaries featuring new partners/teams with talking points, issue spotting, success stories, client types, and unique experiences.
- Internal Collaboration: Facilitate meetings among newly onboarded partners with key stakeholders to explore opportunities and initiate client introductions.
Realize Synergies:
- Go-To-Market Strategy: Create and execute an outreach strategy tailored to the office’s strengths and practice areas, aligning it to the firm’s value proposition and target audience.
- Opportunity Assessment: Conduct a thorough analysis to identify existing clients benefiting from expanded services and prioritize opportunities with new prospects.
- Introductions to Clients: Expedite meetings with existing clients to introduce new firm partners and services.
- Activity and Pipeline Management: Capture, measure, and report progress on both external and internal initiatives to track integration success.
- These initiatives facilitate a swift ramp-up and promote an understanding of the firm among new hires. Consequently, this heightens awareness of the practice areas and value proposition introduced by these new professionals, contributing to the realization of the synergies envisioned during pre-acquisition plans.
