Give your Law Firm that Competitive Edge

Finding that Competitive Edge

Finding that Partner who brings a successful track record and integrity to take your firm to the next level — starts with finding a great recruiter. What does your firm do that sets you apart from the pack? What’s the culture of your firm? Why does your best stay on with you?

That’s your firm’s competitive advantage — That is how you will land the right candidate who meets the criteria that you and your recruiter carefully map out. Partnering with a recruiter is a strategic step to lateral recruiting. The recruiter should be communicating your story.

Strategy First, Last, Always

There are several strategies and tactics that can help you to find the best fit for your firm:

1. Your Story

The story must be authentic, important and compelling. Your message must connect potential partners in a way that gets them to sign on with your firm.

2. The Value Proposition

At your next company retreat ask your partners to identify the firm’s core points of differentiation. Define your value in human terms, not in business terms. Don’t discount the little things. You want to retain your best lawyers while attracting new talent.

Here are a few powerful points for consideration:

  • What is your retention rate of Partners? Associates? Staff?
  • Is your firm committed to marketing?
  • Who is on your marketing team?
  • How does this team assist in publishing articles, coordinate speaking engagements, create strategic partnerships with associations?

3. How do you integrate new Partners to the firm?

Do you have ongoing leadership development training to improve Partners skills? Prepare simple communication tools that make it easy for your recruiter to tell your story. Follow the rule of Cs: Clear, Concise, Concrete, Correct, Coherent and Courteous.

Create Four (4) One Page Summaries:

  1. Create a Talking Point Sheet.
    A Talking Point Sheet is a one-page summary sheet of the firms highlights (Firm’s Rankings, PPP, Awards, Value Proposition, History of Firm and anything else of import).
  2. FAQ sheet that answers the top questions of prospective partners.
  3. Summary-Sheet for each practice group critical to the firm’s strategic goals (hyperlink to key partners biography pages and recent hires).
  4. Finally, share two or three success stories of one of your top partners that joined the firm.

Make 2021 a great year, get busy identifying what makes your firm great. Strategically share the information to attract new talent.

 

About: On Balance Search Consultants

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.

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 and any legal restrictions regarding the law.

Confessions of a Legal Recruiter: Why Talent Firms Are Worth It

Confessions of a Legal Recruiter: Law Firm Business Development Strategic Plan
What Talent Firms are Worth It

Why Work with a Legal Recruiter?

The ability to attract, extract and deliver talent is – and always will be a high touch recruiter. No in-house staff recruiter or data algorithm will ever replace a headhunter. Sourcing the best lawyers can be challenging, the top candidates have options, opinions and time constraints.

Speed. Time is money. No one knows the employment marketplace better than a good headhunter/recruiter. The placement process takes time. The recruiter’s fee is more than off-set from the drain on billable hours at the firm. The best legal recruiters leverage connections and scan social media channels to source the top talent efficiently.

Experience. Most recruiting firms work with many candidates at different levels, the vetting is extensive and ongoing throughout the process “During discovery we pull the Band-Aid off and get to the good, the bad and the ugly. All things being equal, we protect all parties, strategically considering how the firm’s services best compliment the skills the candidates bring to the table”, Shari Davidson, On Balance Search Consultants.

The sum of the whole is greater than the individual pieces, a great recruiter considers the law firm’s platform – geography, practice areas, talent within the firm, marketing team, strategic services, the verticals they specialize in, and the firm’s culture. “A candidate that compliments the firm’s current book of business can produce the next superstar. We have helped candidates move to a stronger platform – doubling their book of business within 18-24 months and continue to grow,” Shari Davidson.

Confidentiality. A multi-channel strategy across media channels and several search firms may do more harm than good. Internal and external forces may very well conspire to complicate the process. Internally some may feel slighted, that they have been overlooked for this position. Additionally, advertising tips off the competition as to the strategic direction of your firm.

Negotiation. The best recruiters provide an in-depth professional level of expertise to advise on all aspects of the placement process, acting as a buffer to carefully consider all parties involved. Good recruiters facilitate mutually beneficial arrangements, minimizing potentially polarizing roadblocks that may arise from face-to-face dealings.

The placement process takes time and often difficult. Successful outcomes lead to earning trust and credibility with candidates and firms, and from this is strong lasting relationships are formed.

About: On Balance Search Consultants

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.

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 and any legal restrictions regarding the law.

Its Groundhog Day: Are You in a Career Coma?

Are you in a career coma?

Are You In A Career Coma?

Do you find yourself unresponsive to the world around you? Nothing seems to phase you, and you are numb to the painful reality that you’re stuck in a dead-end job. There is no secret recipe for a curing a career coma. What you can do is start taking charge of your situation.

“What would you do if you were stuck in one place and every day was exactly the same, and nothing that you did mattered?” — Broadcast TV Weatherman Phil Connors is assigned to cover the annual Groundhog Day in Punxsutawney, PA. Played by actor / comedian Bill Murray. Phil finds himself caught in an infinite time loop, repeating the same day over and over again.

Okay, campers. Rise and shine. It’s Groundhog Day!
Do you find yourself just going through the motions at work? Clocking in and clocking out, without truly investing your time? Author and Executive Coach Anne Marie Segal, “Given the risk-averse tendencies of most lawyers, coupled with demanding workloads, the concept of proactively creating a career path can be difficult to entertain. Yet if we do not drive our own careers, we are often driven down backroads and dead-ends that lead nowhere we wanted to go.”

Do you find yourself unresponsive to the world around you? Nothing seems to phase you, and you are numb to the painful reality that you’re stuck in a dead-end job. “Without a proactive strategy you very well may lose sight of your goals and find that your job is no longer fulfilling. Suddenly you realize that your career is way off track” — Shari Davidson, Top Legal Recruiter.

Know the warning signs.

  • Churning out large amounts of work, with little thought. You are not working on deals, cases or projects that make a difference to the bottom line.
  • You have become immune to what’s going on at the office and suddenly are not invited to important meetings.
  • This self-induced coma has made you complacent, and you seldom take initiative to learn new skills. Your skill set is no longer relevant, and you now have limited options for advancement.
  • Your appetite for challenging work has waned, and you have little to no motivation to grow or change for the better. You’ve become risk adverse. You’ve lost your edge and fear change.
  • You no longer see opportunities, and you are leaving money on the table. You are lost and cannot see the way out.

Wake up! Try something new and get some professional help.

Lawyer Coach Anne Marie Segal, “You cannot get out of a career coma just by ‘thinking yourself’ out of it. Highly intelligent people tend to rely too much on their intellectual abilities to solve problems. This is not a problem that cannot be solved through brain power alone. In fact, that approach creates the same blind spots that led to a career coma in the first place.”

On Balance Legal Search, CEO Shari Davidson — “There is no secret recipe for a curing a career coma. Every case is different. What you can do is start taking charge of your situation, which takes guts, expansive thinking and powerful contacts:

  • Guts — First, you need to find the courage to recognize and admit to the problems that are plaguing your career. Then you need to make the commitment to addressing the problems head on and following it through to completion.
  • Expansive Thinking — Second, accept that resolve and a commitment are not going to be enough. You’ve hit a wall and need to make some changes. You no longer share the firm’s interests, values or career priorities.
    Instead, take time to understand who you are and what you want. Start thinking expansively, challenge yourself to re-engage and strategically find new solutions to reach the success you seek.
  • Contacts and Networking— Lastly, you need to associate yourself with others who can help you get out of your rut. Go outside your comfort zone and put yourself into new centers of influence to widen your circle of friends. Get new perspectives from your new social networks.”

“Take the time to figure out what you think of you.” — Michael F. Melcher, Author, The Creative Lawyer. Get out from behind your desk and out of your comfort zone. Join an exercise group or gym. Take on some pro bono cases in areas of interest. Join the board or a committee of a non-profit organization. Go on informational interviews. Find out what legal recruiters or other career professionals can offer.

Talk to a professional to get some honest feedback and support. Make those powerful connections that will get your career back on track.

About: On Balance Search Consultants

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.

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 and any legal restrictions regarding the law.

Don’t lie to me. If you’re NOT going to be transparent when making the lateral move, don’t bother.

Confessions of a Legal Recruiter: Don’t Lie to Me

Dont lie to me.

Give yourself the best chance of landing a position you want. When several important issues come up that you did not disclose from the on-set, it’s a red flag. What other issues did you not come clean with? Your credibility is important, right? Don’t waste your time, or everyone else’s, be honest. Get it right. Good recruiters have all parties’ best interests covered. Let’s get off to a good start.

I can’t work with you.

You have sent your resume to practically every law firm in the area, big mistake. You’ve watered down your value in the marketplace. The perception is that there is something wrong with this candidate. Why did you send your resume for a position that you are not even qualified to be considered?

Why are you looking?

Never make the lateral move for more money. The best recruiters separate the wheat from the chaff, strategically aligning the interests of the candidate with the right firm.

Work with me.

Good recruiters have solid, strong relationships built over many years of protecting both the interests of the firms as well as the candidates placed.

Shari Davidson, President — On Balance Search Consultants:

“When working with a potential candidate I strategically align myself with the candidate to find a new home that matches the candidate’s goals. This could include a larger platform of practice areas, or geographic locations or even a better work environment.”

Continually keep in touch with candidates to:

1. Help them grow their business.

2. Share trends in the legal profession.

3. Share professional networking opportunities and CLE programs.

Integrity, credibility, honesty.

The best recruiters are on the pulse of what’s going on, headhunters are on the phone with 50 to 200 firms a week and are mixing it up with the movers and shakers who open doors. Find a well-regarded legal recruiter who has a solid reputation for protecting their candidates and firms.

About: On Balance Search Consultants

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.

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 and any legal restrictions regarding the law.

Confessions of a Legal Recruiter: Law Firm Business Development Strategic Plan

Take control of your practice. Put yourself in a position to attract and retain clients you admire and find challenging and interesting. Become less dependent on others to feed your pipeline.

Create a three-pronged approach [Purpose, Strategy & Participation] that leverages your transactional skills and business contacts to grow your client base.

Confessions of a Legal Recruiter: Law Firm Business Development Strategic Plan
Law Firm Business Development Strategic Plan

Purpose

Commit to marketing activities and prospects that are consistent with your area of expertise and best fit for bringing in new billings. Take the time to identify what your areas are opportunity markets and how to best acquire clients.

Your plan must establish you as a leader in your area of law. Become a leading authority on the policies and procedures that matter to the future direction of the firms you represent and plan on securing.

Strategy

It’s a known fact that 80% of all business comes from existing clients. Visit your top clients at their places of business each quarter or at least annually. Regularly set up a breakfast, lunch or dinner with clients, prospects or a referral source. Be actively involved in a well-chosen organization and write articles, join committees of important interest to your client base. Hold events for your client base; lectures, networking, community-based events etc.

Start networking and continually create authority and trust:

WHERE TO NETWORK:

  • Focus on trade or industry organizations
  • Community or political alliances
  • Social or alumni groups
  • Client breakfasts, lunches, dinners and functions

CREATE AUTHORITY & TRUST

  • Regularly contribute to legal articles in leading publications.
  • Speaking engagement to industry groups.
  • Client seminars.
  • Teach at local university or college.
  • Sponsor (CLEs, Charity Events, Community Relations, etc.).
  • Publish monthly newsletter and or write a book.
  • Pro bono work.
  • Provide and or acquire ongoing training and professional development.

Participation & Accountability

Evaluate what is working, areas for opportunity and efforts that have not yielded results must be reworked or eliminated from the action plan. Review your progress every three months.

Here are a few guidelines to help you develop your individual marketing plan:

  • Play to Your Strengths and Personality.
  • Be Consistent with Firm Goals and Objectives.
  • Focus Your Attention – strategically in activities that will enhance your credentials and allow you to build relationships with key individuals. A plan helps you be more proactive and eliminates distractions.
  • Be Simple and Realistic and Achievable.
  • Be as Specific as Possible.
  • Motivate Yourself – do the things you need to do in order to achieve long-term success.
  • Change Over Time – Make adjustments as needed.

Business development takes time, and it’s a necessary, ongoing process to create a continuous, constant flow of new business.

About: On Balance Search Consultants

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.

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 and any legal restrictions regarding the law.

Remote Work Best Practices in The Legal Space

During this COVID Crisis, lawyers have been working remotely. Most experts think working remotely is here to stay, as the new normal. The technology is not new, but the need for more work-life balance is.

Working remotely may negatively impact traditional office-life and personal life, as the line between the two become blurred. Many find remote work ideal. The only real Con is you.

Today’s technology is affordable. It provides lawyers with the ability to draft and review legal documents, get them signed electronically—and ensures that the client’s records are secure in the cloud.

There are top-rated virtual law firms that do everything remotely, including estate planning, business law, and real estate. It’s all done online, from virtual video depositions and many other important services.

Remote work requires discipline, focus and commitment. You can create a work culture at home that represents you, not just the culture of your organization. Follow these best practices to successfully work from home:

BEST PRACTICES FOR REMOTE WORK

Designate a specific place for a home office.

  • Store all work-related files, reference materials and supplies in your space.
  • Ensure that your workspace is consistent with work environment at the firm.

Keep sharp – stay focused and avoid distractions.

  • Set office hours, and make it clear to loved ones that you are not to be disturbed.
  • Plan your day. Take and make phone calls during business hours and keep the paperwork for after-hours.
  • Be available during office hours.
  • Clearly communicate and plan what communication channels are available for clients, staff and family.
  • Create protocols and guidelines for how meetings will take.
  • Go offline, don’t take calls or check emails during crunch time to maximize productivity.
  • Get organized by creating filing systems, schedules and to-do lists.
  • Plan your kid’s day with activities or child-care to limit the need to put out fires.
  • Collaborate and deepen the connections with your clients, colleagues, and other staff.
  • Walk the walk: dress professionally every day.

Create a work/life balance: improve productivity, health and well-being.

  • Take breaks. Schedule time for regular exercise and remember to drink a lots-of-water.
  • Build in some flexibility to your routine to reduce stress and to have more control over your time.
  • Get out of the house. Set up outside meetings instead of zoom calls. Go down to the local coffee house for meetings on and offline.

Invest in technology.

  • Make sure you have all the tools to run your office from home.
  • Make sure you have a highspeed internet connection.
  • Consider buying a backup generator so you can work through the storm.
  • Set up a backup system to store legal documents in the cloud. Don’t store any sensitive material on your computer.
  • Reduce down time, know thy computer. A broken-down computer or Internet connection can set you back days if not weeks.
  • As an attorney you need to ensure your devices are encrypted and secure.

“Working remotely may negatively impact traditional office-life and personal life, as the line between the two become blurred. Many find remote work ideal. The only real Con is you. Be sure to draw boundaries between your personal and business life” – Shari Davidson, President, On Balance Search Consultants.

Virtual law offices are luring talented attorneys, mostly working mothers, from big firms offering work-life balance and flexibility to work in the evenings and on weekends.

About: On Balance Search Consultants

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.

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 and any legal restrictions regarding the law.


Thriving in the Age of Disruption

Wow 2020 was rough. Did anyone think it was going to be this bad?

December 21st is the Winter Solstice, the longest night of the year. As we emerge from the darkness into the light, it’s high time to get back on track from this tumultuous year.

Relationships have never been tested like they have during this COVID Crisis. Never before have many of us done so much under such extraordinary circumstances. Time itself has been compressed, consequently our personal and business relationships have been strained.

Trends Shaping the Legal Industry

Many of us have been hard hit by the coronavirus, things have changed. Competition is fierce, what worked in the past will not get it done, in this new normal. Make the necessary adjustments to thrive in this age of disruption.

Connecting on a deeper level.
Although technology has been a savior for many during this pandemic, human interaction has been lost. Many have been let go due to this unprecedented economic downturn. Now is the time to connect. Joining peer groups and meetings off and online are the best way to kickstart your job prospects.

Creating a powerful social sphere of influence.
Don’t get left behind, embrace social media and wield its power to influence and attract new opportunities. Engage with key stakeholders and garner testimonials to build trust and establish yourself as a thought leader in your area of law.

Remote work is the future.
Law firms are embracing a blended remote and staggered in office work schedule. New roles and responsibilities of a remote workforce gives firms a bigger pool of the best available talent who were impeded by raising kids or the challenges of commuting into the city each day.

Work with a legal recruiter.
Work with an expert who is on the bleeding edge of what is happening in the legal marketplace. From senior partners to those who have been let go, there will never be a better time to negotiate a better deal or join a new firm with a bright future as we emerge from this crisis.

“It’s chaos out there, and yet in the coming month new opportunities await. Question is, do you have the luxury of waiting this crisis out? Making a move now may be the best option.” – Shari Davidson, President of On Balance Search Consultants

Confessions of a Legal Recruiter

Confessions of a Legal Recruiter

About: On Balance Search Consultants

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.

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 and any legal restrictions regarding the law.

Celebrating Our Bill of Rights: Government by The People

December 15th is the day we commemorate the ratification of the Bill of Rights first ten amendments to the U.S. Constitution.

We the People of the United States.

President Thomas Jefferson argued: “A bill of rights is what the people are entitled to against every government on earth, general or particular, and what no just government should refuse, or rest on inference.”

Inspired by Jefferson, James Madison initially presented 19 amendments for ratification, after much debate amendments three through twelve were ratified as our Bill of Rights. On December 15, 1791 the Constitution’s first ten amendments became the law of the land.

The Bill of Rights genesis beckons back to the days of England’s rule over its servants. The Barons signed the Magna Carta (1215) establishing the principle that everyone is subject to the law, even the king. The Magna Carta or ‘The Great Charter’ guarantees the rights of individuals, the right to justice and the right to a fair trial.

Then as now, it is clear that the Bill of Rights prevents any abuses of power that would impede upon our rights as citizens of the United States.

“The Bill of Rights is the guardian of our security as well as our liberty.” —John F. Kennedy (35th president).

The Bill of Rights protect our most fundamental rights—freedom of speech, protest, and conscience, and guarantees our equal protection under the law.

First Amendment
Right to freedom from religion, freedom of any religion or no religion, and freedom of speech, press, peaceable assembly and grievance petition.

Second Amendment
Right to keep and bear arms.

Third Amendment
Right to freedom from forced housing of soldiers without consent or law.

Fourth Amendment
Right to freedom from search and seizure without probable cause and sworn warrant.

Fifth Amendment
Right of accused in criminal cases to grand jury determination, no double jeopardy, no self-incrimination, and no private property seizure without just compensation.

Sixth Amendment
Right of criminal accused to fair and speedy trial by impartial jury, witness confrontation and compulsory process, and defense counsel.

Seventh Amendment
Right of civil litigants to jury trial, and fact determination by jury protected.

Eighth Amendment
Right to freedom from excessive bail, fine and punishment.

Ninth Amendment
Rights provided may not deny or disparage others retained by the people.

Tenth Amendment
Powers not provided federal government reserved to the states or people.

The United States became the first nation in history to constitutionally provide individual freedom of belief with no acknowledgment of dependency on a higher authority.

The Universal Declaration of Human Rights adopted by the United Nations (1948) was inspired by our Bill of Rights, “… everyone shall have the right to freedom of thought, conscience and religion” and other individual liberties.

“The Universal Declaration of Human Rights … stands as a landmark achievement in the history of human liberty.” —George W. Bush (43rd president).

America’s individual right to freedom of belief is our precious constitutional liberty. Every day, our civil liberties are threatened by existential challenges to our rights. The Bill of Rights is the standard for democracy around the world, we can rejoice that we are afforded these civil liberties.

The United States is a representative democracy. Our government is elected by citizens who can vote and take part in the decisions that affect the way their country is run.

 

About: On Balance Search Consultants

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com.

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 and any legal restrictions regarding the law.

I’m Just Getting Started: Lateral Partner Moves After Sixty

Partners are opting to continue working well into their 60’s and beyond – act decisively and quickly. There will never be a better time to make the lateral partner move.

I’m Just Getting Started- Lateral Partner Moves After Sixty

Crazy right? Millennials outnumber Boomers 2-1. Why take the risk on a senior partner?

Senior partners sense they are being sidelined, for reasons unclear. There is a stigma that persists that after 60, you have very little currency in the workplace.

Not so. No reason why top attorneys should be forced to retire. In the Metro NY regions there is renewed interest in senior partners.

“As many partners approach sixty, they begin to consider retirement. Surprisingly, a good number have no strategic exit plan in place.

One thing is for sure, no one feels safe right now. The pandemic has given all of us pause to thing about our health and wellbeing. It is absolutely critical to put in place a plan that accounts for unexpected health problems or uncontrollable market events.

Partners should protect and monetize their book of business that they have worked so hard to build over the years.” Shari Davidson, President, On Balance Search Consultants.

Not all partners are equal, and most have nurtured powerful relationships over the years. The best candidates bring three critical assets to the table:

  • Their practice is portable and profitable and will contribute to the firm’s bottom line.
  • The candidate must a good fit. They must be able to transition and integrate seamlessly into the firm’s culture.
  • Prospects must provide a detailed long-range plan on how they be able to contribute to the firm’s growth strategies three-to-five years out.

To ensure candidates can bring business with them, law firms need to double down on due diligence. At the same time, the acquiring firm must provide a support team to give the new venture the best opportunity to succeed.

The pandemic has accelerated many succession plans and senior partners who would have never considered making the lateral move to another firm. The business world has embraced technology opening up new opportunities for those who find working remotely advantageous.

In the midst of the upheaval of pay cuts, and layoffs, some firms are seeing defections. As we come out of this COVID Crisis, firms should keep an open eye on taking on senior partners.

Now is the time to consider retirement, relocation or making the move to another firm. Remote work is now the new normal. Think about negotiating more flexible terms for a better work, life balance.

 

 

 

About On Balance Search

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.4300 or visit our website at https://www.onbalancesearch.com

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 and any legal restrictions regarding the law.

Navigating the COVID Chaos: Emerging Trends, Options and Opportunities

Navigating the COVID Chaos

Many of us are planning for 2021, and not knowing what the future holds during these uncertain times makes it difficult to assess how to proceed.

Partners have real concerns about their future. Many law firms are weathering the challenges associated with the pandemic offering cuts in compensation, furloughs and layoffs.

During this pandemic, the legal industry has embraced technology working straight through this crisis. Several new trends in the legal industry have emerged.

Succession plans, and retirement have all been accelerated as COVID as impacted every aspect of our lives. The demand for legal services will continue to grow.

Time is indeed precious. Making a move now, may be the best option. For others, it may be prudent to let the market even out and look to the next chapter in your career in 2021.

Question is, do you have the luxury of waiting this crisis out?

The following provides insights into emerging trends that will guide you to assess what options and opportunities lie in the coming months.

TRENDS

Law firms are focused on deepening trust with clients and staffing up specialized areas of the law. As a consequence of COVID, businesses have an increased need for counsel for labor and employment, bankruptcy, matrimonial, tax, and litigation. Another area that has seen an uptick in movement is health care.

Attorneys who specialize in these areas are well-positioned to negotiate better terms or secure a post with a new firm.

Moves by Practice Area, 2020 Legal TrendsAttorney Moves by Practice Area.001

Markets with Partners Making Lateral Moves

The number of moves by the market has declined during the pandemic. There are markets with the most movement per capita is notable. Texas, Florida, and California have experienced more activity compared to the other states. Overall, the movements are consistent over the past few years.

Industry experts project many attorneys are looking to make a move in 2021. The need for due diligence has never been more important. Experts predict that only half of the lawyers onboarded will be able to bring along their book of business.
Work with a legal recruiter who can advise you of the top candidates who can make it rain in this new normal.

Trends 2020, Moves by Market Intra City

Trends 2020, Moves by Market Percentage

Most Active Markets with Partners Making Lateral Moves

Notably, Philadelphia has seen a jump in lawyers relocating from other markets. Given the need for many firms to work remotely, relocations may continue to rise in many markets.

Insiders report that several AM law firms are considering having their attorneys share office space. The lawyer will alternate each week working in the office while the other works remotely. This will be a permanent arrangement to offset the fixed operating expense of running an office while giving lawyers more flexibility in their work, life balance.

Trends 2020 On Balance, Locations, Relocations

Trends 2020 On Balance, Locations Moved From

PREPARE

The coming months are certainly going to be volatile and uncertain. Be prepared. Talk with a legal advisor to map out your plans for 2021 and beyond. Those who will thrive in a chaotic environment must be able to act quickly. Be careful not to burn bridges. Transparency is necessary.

What has worked in the past may no longer make sense. Be open and consider being proactive, not reactive to the challenges ahead.

Several significant changes are occurring right now. Capitalize on these opportunities. Consider that staying put may be the best course of action. And for some, while making a move now may be your best option.

Make 2021 your best year yet.

 

 

 

About On Balance Search

On Balance offers great insight and industry intelligence. Shari Davidson, president of On Balance Search Consultants, advises experienced attorneys at every stage of their career to take them to the next level. From making the lateral partner move to succession planning.

Shari takes a proactive approach to advising law firms on how to take a firm to the next level and helps rising talent make the transition to the right law firm. On Balance Search identifies opportunities that exist today, not down the road.

Contact us today. Call 516.731.3400 or visit our website at https://www.onbalancesearch.com

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 and any legal restrictions regarding the law.