Seal The Deal, Get To What’s Really Important

A great recruiter get’s to what is most important to the candidate and then seals the deal.

During negotiations many top prospects are lost by not providing the right incentives to seal the deal. There are lots of qualified candidates out there, you need to get the deal done before someone sneaks in and steals the position out from under you.

Seal The Deal, Know What's Important

Most law firms make the mistake of looking for a specific set of skills and experience, turning a blind eye to any profiles that fall outside the lines of a pre-determined list of qualifications. Just because everything looks good on paper, doesn’t necessarily equate to a good fit. Work with a recruiter who can read between the lines. A savvy recruiter realizes that important information about the position such as the firm’s culture and the critical requirement must be properly communicated.

A law firm’s best talent can’t always be found in its backyard. Firms are faced with the challenge of finding talent with specialized skills and experience. That’s why today, more and more law firms are looking to broaden their searches.  

Law firms want the best talent and looking for creative ways to bring on the right candidate. It’s important to have all the tools necessary to secure the very best. That’s why legal recruiters and law firms strategies for sourcing top talent needs to be innovative. Relocating a rainmaker from outside the area is one such solution.  

A strong relocating benefit allows recruiters to search for talent outside of the law firm’s region to bring in new blood, that can take the firm to the next level. Relocation is a win-win for high profile candidates and the law firm. (See States That Have Reciprocity)

Recruiting is a creative and intuitive process. A good recruiter spends time getting to know what is important from the candidate’s point-of-view and the law firm’s perspective.  You’ve got to get it right, to seal the deal.

About On Balance Search Consultants
On Balance offers great insight and industry intelligence. Shari Davidson, President of On Balance Search Consultants, advises law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. We pride ourselves in understanding our clients and candidate’s needs. On Balance has an outstanding track record placing strong candidates with high retention rates.

Please note that the content of this blog does not constitute legal advice and is only intended for the educational purpose of the reader. Please consult your legal counsel for specifics regarding your specific circumstances and the laws in your states pertaining to social media, legal recruiting and any legal restrictions regarding the law.

To contact Shari Davidson: info@OnBalanceSearch.com  or 516-731-3400.

Getting Ready To Make The Move: Valuing Your Book Of Business

Valuing Your Book of Business
Your book of business has real market value— it is time sensitive. Clearly detail your book’s value by client and how much revenue each client contributes. Identify what verticals have historically were most profitable.

Valuing Your Book of Business

“Do not wait: the time will never be ‘just right’. Start where you stand, and work it. Use whatever tools you may have at your command.  Better tools will be found as you go along.” ― Napoleon Hill.

“When you begin negotiating your book, all that counts is how well you tell your story,” Shari Davidson President On Balance Search. “Knowing what your book of business is worth—particularly as it grows—gives you that edge. In order to objectively guide you, I will need to know what you want from the onset.”  

Working with a legal recruiter who has the right connections can help get the deal done. From understanding all the legal issues helps in big ways.

Most lawyers spend little if any time understanding what their book is worth and how to increase value. An earn-out arrangement guarantees a minimum level of performance. If the client retention rate drops or the revenue drops, the payout also drops.

A book with lots of recurring revenue brings in more money than a book of transaction-heavy clients. Location is also very important, here in the Metro New York area a book commands much more value than most parts of the country. At big market adds longevity and makes your book stronger.

It’s all about the proper strategic fit between all parties involved. The objective is to increase the value of the business for all parties involved. There has to be strategic alignment and synergy that increases the likelihood for increased profitability. This also applies when parties are coming together in a partnership. There has be value recognition to share resources and capabilities to be on an equal footing. The better the strategic fit, the better the outcome for higher profit.

What to look for when joining a new firm:

  • Strategic Fit: alignment and synergy.
  • Philosophy: How does the new firm do business— conservative versus aggressive
  • Presence: Is your practice well known? Will your clients do business with the new firm
  • Services: Will your scope of your expertise work well in the new business model of the firm?   
  • Processes: What systems does the new firm have in place to capture more marketshare: technology, marketing, network, servicing? 

Your book is only valuable to a firm that can leverage your contacts. It can either be a strength or a weakness, it’s really important to find the right fit. It’s all a matter of telling a story that makes sense.

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About On Balance Search Consultants
On Balance offers great insight and industry intelligence. Shari Davidson, President of On Balance Search Consultants, advises law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. We pride ourselves in understanding our clients and candidate’s needs, On Balance has an outstanding track record placing strong candidates with high retention rates.

Please note that the content of this blog does not constitute legal advice and is only intended for the educational purpose of the reader. Please consult your legal counsel for specifics regarding your specific circumstances and the laws in your states pertaining to social media, legal recruiting and any legal restrictions regarding the law.

To contact Shari Davidson: info@OnBalanceSearch.com  or 516-731-3400.