ALM and Hellerman Baretz Communications Create “LATERAL proMOTION”
Turnkey Service for Law Firms to Promote Lateral Hires
WASHINGTON--(BUSINESS WIRE)--It’s the biggest missed opportunity in the legal industry. Law firms routinely spend millions of dollars a year to hire lateral talent, but all too often fail to translate those hires into positive business results. The American Lawyer has been tracking the issue for years, and its 2014 Lateral Report again reveals massive lateral movement paired with disappointing returns. Now, on the heels of that report, ALM and Hellerman Baretz Communications are partnering to launch LATERAL proMOTION, a turnkey, flat-fee program designed to ensure that law firms reap the rewards they desire from their lateral hiring strategies.
“When they are shown that level of love, the new partners not only generate new business, they also enable the firm to attract additional high-caliber, business-generating laterals.”
Today, virtually every major law firm is playing the lateral game—96 percent say that more lateral hiring is part of their growth strategy, and according to The American Lawyer’s 2014 Lateral Report, law firms enticed more than 2,500 lateral partner moves last year. But the costs to play are enormous, the stakes within the consolidating industry are even higher, and the failure rate is unacceptable. Only 28 percent of managing partners report that lateral hiring has been an effective strategy for their firm. To help firms succeed where others have failed, LATERAL proMOTION combines the unparalleled platform of ALM, the authoritative voice on legal and business news, with the marketing acumen of Hellerman Baretz Communications, a corporate communications agency serving the world’s most prestigious law firms for more than a decade.
Together, they have created a program through which firms can leverage lateral hires for revenue growth. LATERAL proMOTION maximizes the business development potential of new lateral hires through an array of services—including announcement releases, LinkedIn optimization, byline article placement in publications such as Corporate Counsel and The National Law Journal, and thought leadership quotes—that make the market aware of a lateral hire, promote the lateral’s expertise, and ensure that laterals feel supported at their new firms. The service is offered in four different packages, ranging from $5,000-$40,000.
“Recruiting laterals is the hard part, but if you don’t promote or retain them, all of that investment can go to waste,” said Eric Biener, Vice President of ALM Marketing Services. “LATERAL proMOTION provides a missing link in the recruiting strategy that can make all the difference between a successful and disappointing hire.”
“A growth strategy that’s based on lateral hiring will only succeed when new lateral assets are properly promoted and endorsed to the firm’s most critical audiences: existing partners and clients for cross-selling opportunities, lateral targets for future recruiting efforts, and prospects,” explained John Hellerman, co-founder of Hellerman Baretz Communications. “When they are shown that level of love, the new partners not only generate new business, they also enable the firm to attract additional high-caliber, business-generating laterals.
“LATERAL proMOTION doesn’t just simplify the process of leveraging laterals, it does it through the unmatched distribution power of ALM, which reaches all the right audiences,” Hellerman added.
Detailed information about LATERAL proMOTION including specific package offerings and thought leadership about lateral hiring can be found at: http://www.lateralpromotion.com.
About Hellerman Baretz Communications
Hellerman Baretz Communications (hellermanbaretz.com) is an award-winning corporate communications agency specializing in thought leadership and branded content development, reputation management, and revenue growth for the world’s leading law, consulting, healthcare, and financial services firms. The firm has been named “Boutique Agency of the Year” and “Small Agency of the Year” by Bulldog Reporter, “Best PR Firm” and “Best Crisis Management Firm” in Washington, DC’s Legal Times, and “Best Crisis Management Firm” and “Best Social Media Consultant” nationally by The National Law Journal.
Recently, John Hellerman and Spencer Baretz were recognized in The National Law Journal’s inaugural list of “50 Business of Law Trailblazers & Pioneers,” and our blog, Sound Bites (hellermanbaretz.com/hbc-sound-bites), was named “Best Blog for an Agency/Consultancy” by Bulldog Reporter.
ALM (alm.com), an integrated media company, is a leading provider of specialized business news, research and information, focused primarily on the legal and commercial real estate sectors. ALM's market-leading brands include The American Lawyer, Corporate Counsel, GlobeSt.com, Insight Conferences, Law.com, Law Journal Press, Law Technology News, LegalTech, The National Law Journal and Real Estate Forum. Headquartered in New York City, ALM was formed in 1997.