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:
- 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).
- FAQ sheet that answers the top questions of prospective partners.
- Summary-Sheet for each practice group critical to the firm’s strategic goals (hyperlink to key partners biography pages and recent hires).
- 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
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.