Interestingly, lateral hiring used to be frowned upon. It was like you were swooping a successful employee from another law firm. However, this is not the case in modern society. Instead, it can be a fantastic way to add experience to your team. On the other hand, it can be greatly beneficial to dedicate your time to training a summer associate. You may have a lot of talent on your hands. Let’s take a look at the benefits and disadvantages of taking on summer associates and lateral hiring.
Summer Associates
Many law firms run summer internships to give law students experience and gain help over the summertime. Summer associates tend to be law students in their first or second year of law school, and they have not yet passed the bar exam. But despite not being fully qualified, hiring summer associates can be a good move for law firms. Here a few reasons why this can be the case.
The Benefits
When you hire a summer associate, they may not have the honed skills of an experienced attorney. However, they do bring a lot of other fantastic characteristics to the table. Since they are a law student and this will be their first taste of the real world, they will be eager to impress. A summer associate will be full of enthusiasm and work very hard. They know that they have been offered an invaluable opportunity to learn. This means they will be dedicated and give you many hours of hard work. This energy can be just what the legal office needs.
Law students can also bring a lot of fresh ideas to the table. They can often have a new perspective on the law, and this might be just what your law firm and the industry needs. A summer associate comes in and may see things differently. Perhaps in a way you have never considered before.
Another advantage of hiring a summer associate is that you have an opportunity to create a loyal employee. You have brought them into your team and given them a fantastic opportunity for the future. They are going to be grateful for this and hopefully reward you with loyalty. You can both benefit from the situation.
The Disadvantages
As we have mentioned, a benefit of a summer associate is preparing them for life in your law firm. However, this can also be a disadvantage. They are a new law student, and you are having to train them full-time. They do not have the experience or skills that other employees have, which means you need to work harder to teach them. If your law firm is bustling, this can be a lot of hassle at the time. This is particularly true if you are looking for employees to fill in your skill gaps and fit in without a lot of help.
Therefore, a summer associate might not be what your law firm really needs. If you are short of employees, you may be looking for someone experienced to step in and ensure that you succeed. Unfortunately, a summer associate cannot provide this. They are inexperienced and new in the industry. While they will make good attorneys in the future, there might be an immediacy at your law firm. This is where lateral hiring is preferable.
Lateral Hiring
First, it is essential to understand what is meant by a lateral hire. Basically, this means hiring a candidate that has experience and training. They are often at a similar job in another firm, and the new firm wants to offer them a job. The idea is to get all the expertise you need since you have chosen a professional who had a similar job title and salary. In other words, these professionals are thought of as top candidates.
The Benefits
Of course, there are obvious advantages to investing in lateral hiring. Essentially, you are getting the candidate you need straight away. Candidates will often have a desirable profile, which means they possess the experience and skills you need for your vacancy. The idea is that they are already at the level you need to step into your law firm and be successful.
Normally, a lateral hire is considered low risk since they have a good resume, and you know in advance they can deal with the pressure you have at your law firm. Think about when you hire someone who is fresh out of law school or has never worked in your legal area before. There is a risk that they are not going to be up for the challenge. On the other hand, a lateral hire will know what this type of working environment is like and how to be successful. This means no business interruptions for your law firm.
A lot of lateral hiring can be left to recruiters too. Law firms are busy places, and the hiring process is lengthy. Instead of doing it all by yourself, recruiters can take over and look for the experienced candidates you need. This can be a lot easier and mean you have time for other tasks. You can choose to step in at the last minute and see the candidates for yourself or leave it up to recruiters.
The Disadvantages
Just like everything in life, there are going to be some disadvantages to lateral hiring. There can be candidates you want for your law firm, but they are also a target for your competitors. This can happen a lot, and it will mean that you must compete with other law firms to get the talent you are looking for. This type of competition may not interest you if you are looking to hire someone experienced and quickly.
Do not forget that you may have to poach good candidates away from other law firms. This can take a lot of work and persuading. It can be particularly challenging as a candidate can be very happy where they are currently working. It will be up to your law firm to demonstrate that they should consider interviewing for your position. This might involve offering a better salary, training opportunities, or other perks to the job.
You also must consider a candidate and what their goals are. While you are happy to choose a professional with similar experience to what you need to fill your vacancy, this might not be what they are looking for. They may want to know there are opportunities to advance and do better than they currently are doing. So, you must be prepared to work hard to secure candidates and even offer them future opportunities.
Overall
There are a lot of benefits to hiring summer associates. Lateral hiring can also offer law firms additional gains with quicker payback. It really depends on what your law firm needs and when you need it. For instance, if you are looking for future talent and want to train talent, you will benefit from a summer associate. On the other hand, if you have an immediate need to fill a skills gap, lateral hiring will be the best option for you.
