Law firm diversity matters. It matters to corporate clients, many of them public companies that want to demonstrate their commitment to diversity through their selection of vendors and service providers — which is what law firms are, at the end of the day. It matters to the law students and lawyers that firms are trying to recruit — which is the premise behind the data collection conducted by Building A Better Legal Profession.
So there should be keen interest in the latest edition of the American Lawyer’s Diversity Scorecard 2011, which the magazine just released. As Am Law explains, the Scorecard constitutes its annual ranking of large law firms by their percentage of minority attorneys and minority partners.
Let’s take a look at the top firms for diversity. Did your firm make the list?
Law firm layoffs might be down, but they’re not out. Today we bring news of staff layoffs in the Los Angeles office of Hughes Hubbard & Reed.
We heard reports that approximately 12 out of 18 support staff members have been or will be laid off. According to these reports, eleven were laid off earlier this month, and one will be leaving in a few weeks.
In response to an inquiry from Above the Law, a spokesperson for the firm confirmed the essential accuracy of these reports. No associates were affected by the reduction, she noted.
“This was a difficult move; we had to let go of some very good people,” said Gerard F. Cruse, the firm’s Chief Operating Officer, in a statement issued to ATL. “But, despite the fact we had another record year last year, the recession has impacted our L.A. office and we couldn’t continue to be overstaffed there. We are confident about its future and are planning the L.A. office’s expansion.”
I find it funny that firms that want to skimp on bonuses also expect associates to make sure they are helping the overall health and performance of the firm. At some level, why should associates care if the firm is up to date on its collections? It’s not like that money is going to trickle down to the time keepers once their hours are realized. Hell, we’ve got people in the comments claiming they are going to purposely underbill in order to hurt firms in 2011 for stinginess in 2010.
The firms aren’t wrong to be doing everything they can to get associates to enter in their hours in a timely fashion. Time keeping is more accurate when you do it every day (as opposed to trying to recreate your days at the end of the week or month). Firms are struggling to collect from their clients. And, for what it’s worth, billing hours is part of the job for attorneys. I just find it ironic that firms are trying to pressure their associates to produce more money for them even as they are sharing a smaller percentage of those profits with associates.
It’s pretty clear that being a part of a Biglaw firm isn’t a “team” proposition. Everybody for themselves; that’s how the partners act, and that’s how partners expect associates to act.
And so Hughes Hubbard is bringing a little personal punishment to associates who are late with their time…
Professor Joel P. Trachtman (JD Harvard Law School) has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!
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: firstname.lastname@example.org.
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!