Income equality in the united states is a hot topic in political campaigns and in the news and shows no signs of abating. We have noticed a similar trend among the compensation for lawyers. The top group of lawyers are highly paid, typically at large law firms or those in-house legal departments who hire from the large law firm ranks. Starting one’s legal career at a large law firm is thus the ticket into the highly-compensated group.
We were recently asked to make a presentation to managing partners of small law firms in Texas on best hiring practices. In preparation for this seminar talk, we were reminded of the importance of RETAINING existing talent.
Starting a new job can be stressful. This article by Fast Company written by Ximena Vengoechea provides good strategies to keep in mind.
If you doubt the power of belief – even for just one moment – you are forsaking your most powerful ally: your brain. If you doubt that changing a few beliefs can dramatically alter the trajectory of your career, then your career may fall far short of its true potential.
Our team of Texas legal recruiters recently attended the annual conference of the National Association of Legal Search Consultants (NALSC), the professional organization that promulgates ethical standards and best practices in the legal recruiting profession. The key note speech was presented by James Merklinger, Vice President and General Counsel of the Association of Corporate Counsel. His talk about in-house legal department trends was insightful and we thought would be of interest to many of our readers. Below is a brief summary of our annotations:
When looking to join an in-house legal department, you will meet a variety of interviewers. Some will be lawyers and others not. While your legal department interviewers may be excellent lawyers or business people, they might not all be the most effective recruiters. You may encounter good interviewers having a bad day, inexperienced or unprepared interviewers, or those who have ineffective methods for eliciting the information they need to make the best hiring decisions.
Competition in and among private law firms has never been greater, and the pressure on lawyers at all levels to develop new business is intense. Many law firms compete for the same business clients and being a talented lawyer with excellent legal skills is no longer enough. Today’s lawyers must have the ability to attract, retain and expand relationships with their clients, which is often easier said than done. Very few graduate from law school with business development training. Frequently, the pressure to bill sufficient hours during associates’ early years leaves little time and energy for client development efforts, especially when you’re not sure where or how to start.
“To succeed in the new world, you have to sell yourself. You go to a brand-name college, not to imbibe the wisdom of its professors, but to make impressions and connections. You pick a niche that can bring attention to yourself and then develop your personal public relations efforts to let the world know who you are.” – Alan Wolfe, New York Times Book Review, 7 Jan. 2001
With the ease of making connections via social media and job postings reaching more people than ever before, many people ask if a recruiter’s fee remains a beneficial expense. Companies and law firms face mounting cost-containing pressures, and external recruiters are often a cost targeted for reduction. All employers agree that their most valuable resource is its employees and hiring the right – or the wrong – person is a decision critical to the bottom line. So the question becomes whether a recruiter can result in a better hire? Our clients say yes – when certain conditions exist.