Over the last few weeks, I have been researching law firms and businesses with in-house legal departments. I checked each firm to see if they hired anyone from my alma mater or a comparably ranked school. I also checked the firms’ rankings both in certain specialties and their overall profitability.
Then I tried something more difficult – finding employee turnover rates and overall employee satisfaction. This information is important to me but is pretty much impossible to get without deeper digging and contacting people. The career counselor I talked to gave me some names of people who may be able to get more detailed information. If there was one thing I learned in law school, it was to find the negative information yourself because you should never trust the numbers on a company’s sales presentations and recruiting materials.
After the jump is a small sample of the prospective firms I researched, listed in no particular order.
One of the great, unspoken realities of being a new lawyer that is never mentioned in law school is that you are going to screw up – badly. And then you’re going to have to explain it to your client or supervising attorney.
You’re going to miss a deadline, not file an objection, miss some case law, or not contact an attorney involved in the case on a hearing. A mistake is going to be made and it will be your fault.
You may be tempted to try and shift the blame. Come up with excuses as to why something outside of your control caused the problem. That you were swamped with work and had too much on your plate. He said, she said. But if it was a task assigned to you, it is your personal responsibility to make sure it was completed on time and specification.
As the task, and subsequent mistake, are your responsibility – you must own it….
I give credit for the inspiration of this article to a writer named Seth Godin who wrote a book called The Purple Cow (affiliate link). My law firm benefited hugely from this book.
The theory of the Purple Cow in a nutshell is that you should try to STAND OUT like a purple cow would stand out from the other mere brown cows. If you don’t STAND OUT, then you just blend in, and you are nothing at all.
Okay, so that is a good point – as if you didn’t know that already. But it is not that simple. And here is why. Our instincts and everything we learn every day – our emotions, our colleagues, and our loved ones – all lead us in the safe (and wrong) direction.
The New York Times lost 80 million home page visitors—half the traffic to the nytimes.com page—in the last two years.
Likewise, traffic to law firm website home pages is down almost 20 percent in the last year. Only 39 percent of law firm traffic now enters through the home page per a study conducted by law firm website developers Great Jakes.
Law firms list their websites in online and offline directories. The home page URL is included on emails, business cards and social media profiles. Search engine optimization tactics are used to draw traffic to the firm’s home page. Website navigation schemas are developed to get users to browse from the home page to industries, areas of the law, about the firm, the people, office locations and articles.
The problem is that people no longer browse pages on a website by going through home pages. They’re coming from Twitter, Facebook, LinkedIn, blogs, Google+ and Google searches to visit specific content within the site….
In my article of two weeks ago, I threw out the proposition that if you are running a law firm — or a department or practice group in a law firm — the critical mission is to “attract, train, retain and inspire talent.” If you can do this, you are probably going to accomplish great things — and the converse. So the question now is, how do you do it?
Below is the best I have been able to come up with. It is (mostly) from a speech I gave at an IMN conference in 2011. (You can read the original speech here.)
First — and foremost — Talent wants to be with other talented people. They crave it in their souls. They will put up with major “not nice people” and even poor working conditions, if they are convinced that other very talented people are doing it with them in the trenches. Consider Apple and Steve Jobs. He wasn’t thought of as a nice guy; indeed, quite the opposite. But when people looked around the room, they were awed at the skill sets of those in the room with them, and boy did they want to stay in that room, in the worst way. So they put up with Jobs’s not–niceness. (Of course, I do not advocate being this way as a boss — far from it.)
What is a law firm? Unlike a lot of businesses, there are really no assets except the lawyers and (in some instances) the brand name. For most law firms — especially newer firms and start-ups — there is no brand name; that leaves the lawyers as the only assets. And for brand-name law firms, if the talent starts to leave, eventually the brand dies.
As one of my partners once said to me: “Bruce, all of the assets of this business go down the elevator every night. Your job is to get them to come back up in the morning.” He just said it casually, but it hit me strongly later on as I realized he was completely right. The entire point of running a law firm was to keep the lawyers in the firm. You can always get more clients if you lose them, but without the lawyers, you have nothing to sell and it is game over.
Accordingly, to answer the question posed at the outset as to what a law firm is…. it is a collection of lawyers who are together because they wish to be together. If they don’t wish to be together any more, then they leave, and that is the end.
By way of introduction, I am the founder and managing partner of Duval & Stachenfeld LLP. We are a 70-ish lawyer law firm in midtown NYC that focuses strongly on real estate; indeed, we refer to ourselves as “The Pure Play in Real Estate Law.”
As managing partner I have spearheaded numerous unique initiatives that have distinguished us from other law firms. Many of these ideas were very scary when we tried them out — there was always a fear that we would not only fail but, worse yet, be laughed at. Some of these ideas did not work out so well, I admit; however, the ones that succeeded have been the fulcrum to attract both lawyers and clients to our firm and indeed been the bedrock of our success.
As a relatively small firm playing with the big boys and girls, one would think that our size could be a disadvantage. But that would be incorrect. Smaller players can be flexible and move in different directions. We can take risks and seize opportunities that large law firms cannot logically capitalize on….
* The $160K-Plus Club welcomes its newest member: Duval & Stachenfeld, a real estate firm in NY, is more than doubling its starting salary for associates to $175K. Look for them recruiting at your “tier one” school soon. [New York Law Journal]
* In this economy, bankruptcy firms are being hit hard: Stutman Treister & Glatt, a top L.A. firm that once assisted in cases against Lehman Brothers and Enron Corp. in their Chapter 11 proceedings, is closing up shop. [WSJ Law Blog (sub. req.)]
* “Do I think he thought he was gonna beat it? Yeah.” The district attorney who brought charges against Stephen McDaniel thinks the law school killer was too big for his chainmail britches. [Macon Telegraph]
* From catcalling to “jiggle tests,” NFL cheerleaders have to put up with a lot of really ridiculous stuff. Not being paid the minimum wage is one thing, but having to put up with being groped is quite another. [TIME]
For months, if not years now, the Biglaw buzzword of choice has been “rightsizing.” The practice has infiltrated all sectors of the legal profession, even law schools. Pushing aside all the flowery BS explanations, we know what that phrase really means. There’s not enough money to go around, and whatever is left isn’t worth spending on you.
This week, yet another law firm decided that some of its employees were more expendable than others, conducting a double-digit layoff.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.