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Revealed: lateral partner hiring doesn’t work

There is a definite point in Anonymous' 1.22pm response; what the research couldn't show was the reasons why each hire didn't work out. They are multifarious, and in many cases I suspect the firms were glad they didn't hang around. What is clear is that whatever the reasons for someone leaving, a partner leaving fairly soon after joining a new firm is going to have cost that firm quite a lot of money; one HR director commented to me that "any hire who stays for less than 5 years has to be considered a failed hire". My experience would suggest that firms want the 'package deal' when they hire a partner - a good team player who brings loads of clients, keeps his/her nose clean and is good to recruit around. The hire of a high-powered interim - such as can be very successful in business development, for instance - to kickstart a department is a perfectly viable strategy, but I would think rare in the extreme (unless anyone would like to correct me!)

14-Feb-2011

2:57 pm