The current legal industry has seen marked changes in the way law firms and their attorneys operate. Indeed, these changes have been robust and never seen before.
Those law firms that have recognized these changes (i.e. the changing economy nationally and world-wide, among others) and have adapted accordingly have become stronger and much more profitable. Others, sadly, have had their collective “heads-in-the sand” and have neither seen these changes or adapted to them. Accordingly we have observed numerous prestigious firms implode and/or reach the status of mere “shells” as they loose clients, associates and partners.
Firms that have adapted have seen their weaknesses and shortcomings and have successfully overcome them with mergers, more diverse practice group acquisitions, more lucrative economies of scale just to mention only a few.
Hand-in-hand with these changes have been the “report cards” associate AND partners are now getting. As a school report card covers many subjects of study (i.e. math, English, history, etc.), the law firm report cards don’t and center only on: BUSINESS GENERATION, PRODUCTIVITY AND THE PROFITS THAT ENSUE.
SO, TO GET TO THE POINT: Because of the foregoing, Senior Associates and Partners who have developed strong and loyal followings and strong “books” of business no longer have “tunnel vision” and the hope that things will get better but, to the contrary, are opening their eyes and seeing that there are, indeed, other things out there.
If you are one of those attorneys, our advice is to look around and, in so doing, consider the following:
Larger firms having much more and diversified practice groups resulting in better “cross sell” abilities within and not outside the firm.
Firms with international presences in key locations. The world is becoming “smaller” and many clients now avail themselves of the new world economy.
- Firms that recognize client development and are willing to devote the necessary resources to it.
- Firms that recognize client development and give lucrative credit to attorneys who are successful at it.
- Firms that are managed by lawyers with open minds, creativity and who welcome input from their lawyers.
- Firms who have the ability and talent to successfully represent more sophisticated clients having very complex matters.
Firms with strong collegiality and awareness that their attorneys’ personal lives are vitally important and a key component to their productivity.
- Firms that embrace the leadership qualities of their attorneys and provide opportunities for such.
These factors are only the “tip of the iceberg” but ones we have observed through experience as being most critical.
SouthSearch has the experience, personnel and knowledge of the legal markets to counsel-at no charge-senior associates and partners, to address each of their concerns (whether any of those listed above or others) and make appropriate recommendations.
OUR ONLY GOAL IS TO ENHANCE THE CAREERS OF OUR CANDIDATES AND TAKE EACH TO HIGHER LEVELS OF SATISFACTION AND PROSPERITY. WE PROMISE TO DELIVER!!
Categories: | Tags: | View Count: (162) | Return