Sitting at my local watering hole the other night, I struck up a conversation with a person in town on business. Our conversation took a turn when they asked me what I do. When I told them I work remote with a DC-based strategic branding and marketing agency, they went off on a tangent about how successful their employees are that work remote and the benefits of such an arrangement.
Recruiting lateral partners is one the most important ways that a firm may increase their gross revenue, profits per partner, revenue per attorney all while adding value and importance to the firm. Recruiting a “high profile” lateral partner should be treated with equal importance as landing a new client or getting additional business from an existing client.
In a competitive economic climate, professional service firms need to capitalize on any edge they can and are finding rich resources when leveraging their alumni network.
Alumni programs have become a crucial way for professional service firms to develop new business, strengthen their brands and recruit the best and brightest. Alumni can become brand ambassadors for a firm, referral sources for new business and references for new hires or “boomerangs” that return to a firm.
Here's a checklist to help you start building your own successful alumni program: