Mark Brandon, partner specialist, First Counsel

Opinion: A good business plan should be the weapon of choice

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  • It is unsurprising that so many laterals miss their business plan projections, there are very few firms that actually review the plans in any sort of way and then dont hold the partners accountable for any sort of perfromance shortfall. In many cases, once the lateral has been introduced to the secretary, the head of department and the partners' dining room, the lateral is left to get on with things. Chanign firms is difficult enough but mostly HR teams manage the integration of the associates pretty well. Partnersm, hailing from Olympus, do not want such support. It is even more important that partner hires get ongoing integration coaching and that the firms use the business plans to help the lateral get up and running quickly. It would be interesting to knos how many lateral hires have a meeting with the Senior partner at say 6 ot 9 months in to see how they are getting on implemementing the plant?

    I have worked with one recruiter who gets the point that the successful delivery of individuals and business into a firm does not stop once the contract is signed - sadly a position most recruiters take - and Ihave found that coaching partners through the planning excercise is time well spent in establising a real understanding of what is deliverable to the new firm. It works if done well.

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