Decipher Investigative Intelligence

Well done Julie Henson! You’re a rock star 💫

Congratulations to our Employee Spotlight of the month, Julie Henson! 👏

Are you getting the most out of your legal recruiters? The legal landscape is constantly evolving, and finding top talent is more crucial than ever. But are you asking the right questions of your recruiters? We break down 10 game-changing questions you NEED to be asking your recruitment partners. These questions will help you: ✔️ Uncover hidden talent pools ✔️ Ensure cultural fit for your firm ✔️ Streamline the hiring process Ready to build a future-proof legal team? Click the link in the comments to access the full article and start asking the questions that matter most!

Today, we conclude our #LateralLessons series with a critical point: You don’t have to navigate lateral growth alone. Decipher helps law firms grow purposefully and profitably through industry-leading data and insights. Our solutions lower your hiring risk and acquisition costs, while elevating your firm culture and bottom line. We help firms through: Strategies: We turn growth strategies into reality through custom talent playbooks for specific markets. Diligence: We protect your firm through due diligence that prevents problematic hires. Analytics: We empower smart decision-making by developing custom analytics that deliver clarity and certainty. Intelligence: We provide competitive intelligence across industries to mitigate risk and examine third-party relationships. It’s why leading law firms describe Decipher as “innovative and unparalleled” and “a game changer.” 

A huge shoutout to our incredible analyst team for their outstanding work! Their dedication, positive attitude, and can-do spirit have been instrumental to our success. We're so fortunate to have such talented individuals on board. Thank you Enedin Subasic, Samantha Wickam, Kyle Schloesser, Mergim Hysa, Imogen Bennett, and Kailey Beguin for everything you do!

Through Q2, it's clear: Lateral market dynamics have shifted to favor firms. In a Law360 report, Gregory D. Hamman and Julie Henson dive in: - Lateral partner mobility is up 20 percent over the previous seven-year average. - But lateral partner candidates in Q2 had more experience, lower compensation and larger claimed books of business than in previous years. As Greg and Julie write, "There's never been a better time over the past three years for law firms to strike -- but success hinges on a data-driven approach and a well-defined strategy." For the full report -- including quarterly data on associates, practice areas, locations and more -- as well as actionable advice, see the Law360 article linked in comments.

Talent is your firm's major competitive advantage - and expense. How can you ensure maximum ROI? Join us at Thursday's LVN webinar to learn: - How law firms can leverage data analytics to enhance talent acquisition and management strategies - How data-driven insights can identify the best candidates, optimize lateral hiring processes and more - What tools and methodologies can expedite your firm growth while reducing hiring mistakes Decipher's Gregory D. Hamman and Julie Henson will be joined by Esther Bowers, chief practice innovation officer at Honigman. To learn more or register, see the link in the comments.

While red flags raise eyebrows, it’s important to acknowledge the “green flags” that surface in due diligence, too. Indeed, while 20 to 25 percent of lateral candidates will have a red flag, 75 percent – a vast majority – do not present problems. What do these green flag candidates look like? Generally, among non-problematic laterals, we see: Fewer previous employers Longer tenure at their current firms Higher market recognition rate They’re more likely to be described as business developers; more likely to make positive use of social media; and more likely to be quoted as experts. Moreover, they’re more likely to be considered strong cultural leaders. The challenge: Identifying these laterals before the competition. #LateralLessons

Are you among the 97 percent of firms that plan to grow through laterals next year? If so, Q3 is the prime recruitment season. Here’s why. The best and most strategic candidates will take their time shopping for the right culture and the right platform for their books of business; 60 percent take more than four months, and two-thirds will consider two or more firms. These rainmakers are starting to consider firms NOW. Conversely, the candidates who are less than ideal – less likely to bring over quality business, more likely to bring over risk – tend to wait until Q4. Case in point: Decipher data shows that candidates who enter the pipeline after Q2 and Q3 are 28 percent more likely to prompt major red flags in the due diligence process. Don’t get stuck with last-minute laterals. Fill your pipeline now with quality candidates that will complement your firm’s strategy AND elevate your culture. Decipher’s Discover solution can build a custom pipeline of quality candidates – and position your recruiting for success in 2025 and beyond.

Four out of five law firms exclude Marketing from the lateral hiring process – and this is a critical mistake. Indeed, the marketing team is responsible for growing firm revenue, and laterals are often the most efficient way to do so. BTI Consulting puts the post-pandemic win rate for proposals and RFPs at 26 percent, while the average lateral partner candidate will bring 35 percent of their claimed book. To put it simply, why scramble to compete for work when you could acquire the books of business you want? The most competitive law firms are taking their fight for market share to the talent battlefield – and integrating lateral recruitment throughout the firm. #LateralLessons