Confessions of A Legal Recruiter: Don’t Let Fear Get In The Way Of Future Planning

FEAR Factor Attorney Breakdown . . . False Evidence Appearing Real

F … False
E … Evidence
A … Appearing
R … Real

Fear is something we all feel as a natural response to physical danger. For an attorney is not realizing that your future is a risk due to your being numb to the warning signs.

F.E.A.R. is an acronym for False Evidence Appearing Real. It appears real, even though it may have no real substance. Arising when we feel threatened or undermined, which makes us cling to the known and familiar. Such fear creates paranoia, worry, nervous disorders, and apprehension.

Confessions of a Legal Recruiter 250 x 970

 

Case Study 1

Senior Divorce Attorney with 30 years’ experience who has built a successful practice with $1 million in billings loses 80% of his business. The trusted associate jumps ship and takes the firm’s book with him. The Senior Attorney ignored the signs and chose not to do anything.

Now the Senior Attorney needs to find a replacement and will end up retiring several years later.

Case Study 2

Two Senior Partners with 3 associates of a successful T&E Practice losses large percentage of their billings to stay at status quo.

After the first of the year, one associate left and took many of their clients. Within, the next month or so, the next two associates departed with more clients. Between 75-90% of their business walked out their door.

The two Senior Attorneys now need to decide what they are going to do.

  1. Close shop or 2. Start over again.

In Case Study 1 & 2, the senior partners ignore the signs. Instead of creating an internal or external succession plan, they ignored the subject entirely. In both cases, the associates did not know where he/she stood within the firm. Much less understand that they were the Senior Attorneys the retirement plan.

Case Study 3

Two, Senior Attorneys (Personal Injury) both with 55 plus years of combined experience seize the day and opt for an early exit plan and double their net worth overnight.

Two successful attorneys, Senior Associate and staff opt to join forces by merging their practices. As a result, both double their net worth overnight and strengthen their firm that will ensure an early retirement down the road. The Senior Associate decided to relocate. Good thing.

These attorneys did not put all faith in the Senior Associate taking over their practice. One Senior Attorney is now retired, enjoying his passion for fly fishing while his portfolio produces continued profits. The other is still working and can take advantage of retirement when he is ready.

F.E.A.R. is an illusion. Something we fabricate in our own minds and pretend is real. It’s a fairy tale we tell ourselves that keeps us from doing what we really want.

False evidence appearing real.

Hiding your head in the sand, and not making a decision is still a decision. Make the decision to plan for your retirement. Don’t leave money on the table.

 

 

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 516.731.4300 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.

 

 

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

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

This the second installment in an ongoing series from On Balance Search Consultants.

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 head hunter. 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 head hunter/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 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.

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, legal recruiting and any legal restrictions regarding the law.

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