Law firms that poached attorneys from rivals at record levels in the past two years confront a challenge in preventing the high-priced talent from bolting again.
The 350 largest law firms, trying to keep up with a surge in legal demand, made more than 10,000 lateral hires in the first six months of 2022 and 2021—double the pace of five years ago, Decipher Investigative Intelligence data shows. Historically, about half of lateral hires move again within five years, according to the research firm.
“One of the risks of growth primarily by lateral acquisition is that money is the only glue,” ...
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