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Leopard Solutions Unveils Inaugural Lateral Partner Hiring Survey

Leopard Solutions, a leader in legal business intelligence, has officially released the results of its first-ever Lateral Partner Hiring Survey for 2024. Conducted in collaboration with Wisnik Career Enterprises, this survey captures vital insights from nearly 100 professionals specializing in talent acquisition within the legal sector.

The data gathered sheds light on the evolving dynamics of lateral hiring, which is becoming increasingly crucial for law firm growth strategies in today’s competitive landscape. The survey reveals that 69% of respondents are prioritizing proactive recruitment strategies, a trend underscoring the importance of actively seeking out lateral candidates rather than relying solely on market availability. This proactive approach aligns closely with the 64% of respondents who emphasize strategic planning, highlighting the need to integrate new hires within the overarching goals of the organization.

One of the most significant findings from the survey is that 39% of respondents are focused on strengthening existing practice areas as their primary driver for lateral partner recruitment. This indicates a shift away from geographic expansion or client-centric market share growth, reflecting a more specialized approach geared towards enhancing expertise and addressing specific client needs.

Founder and General Manager of Leopard Solutions, Laura Leopard, noted, “The strategic importance of lateral hiring has evolved dramatically. Our inaugural survey highlights how firms are refining their recruitment strategies to navigate complexities while fostering growth.” This is particularly relevant given that the lateral hiring market has shown resilience and growth, having outpaced entry-level hiring trends in top law firms throughout the year.

Some key statistics from the survey include:

• - A staggering 92% of firms consider a candidate’s existing book of business as a critical factor in the hiring process.
• - The demand for specialized skills is evident, with 72% of firms highlighting the necessity of niche expertise to stimulate growth in high-demand areas.
• - Referral processes play a crucial role in hiring, with 35% of new lateral partners coming through recommendations within professional networks, emphasizing the significance of connections.
• - Gender diversity is a growing focus, with 81% of firms undertaking initiatives to recruit more female lateral partners.
• - Cultural fit and strategic alignment are essential, with 67% and 51% of respondents noting their importance for ensuring long-term success.

Eva Wisnik, President and Founder of Wisnik Career Enterprises, stated, “This marks a significant growth in recruiting roles within law firms. Over half of the teams dedicated to lateral partner hiring have reported increases in their efforts.” As firms adopt proactive strategies, the role of recruitment professionals is being recognized as pivotal in the evolving landscape of legal hiring.

To explore further insights from the 2024 Lateral Partner Hiring Survey and discover more about Leopard Solutions’ services, visit Leopard Solutions.

About Leopard Solutions

Leopard Solutions is a prominent provider of legal market intelligence, backed by over 20 years of experience. Their focus is on delivering real-time, curated insights to assist legal professionals in improving their business practices and recruitment strategies. With a diverse clientele including law firms, recruiters, and corporations, they offer data solutions aimed at streamlining job searches, recruitment processes, and competitive intelligence gathering. Their technology is regularly updated to maintain accuracy and relevance, solidifying their reputation in the industry. Recently, Leopard Solutions was acquired by SurePoint Technologies, known for enhancing workflow and financial performance in mid-sized law firms. For more information, visit Leopard Solutions Website.