The MBTI and its progeny have long been used by government agencies and educational institutions, but it truly has a foothold in corporate America. The MBTI supposedly helps employers to identify potentially successful employees and job candidates to identify their strengths. From the employer’s perspective, these tools offer a chance to identify potential successful hires based on something more objective than hiring managers’ hunches and first impressions.
A recent New York Times Magazine piece detailed an ongoing movement to “revolutionize the human capital resource allocation market” through Moneyball-style, Big Data empiricism. Apparently, employers are becoming more cautious and deliberate in their interviewing processes (the average length of the interviewing period had doubled over the past five years), while at the same time employing work-force-analytics software that can make the process cheaper and more efficient. All in all, around 80% of the Fortune 500 companies practice data-driven assessment in their hiring processes.
Which brings us to the legal industry, an outlier in this “revolutionary,” data-driven recruitment landscape…
One of our favorite legal blogs is Noncuratlex.com, authored by Professor Kyle Graham of Santa Clara Law. The site is extremely funny and insightful, especially if you’re a legal nerd (we plead guilty), and we link to it regularly.
Ed. note: This is the latest installment in a series from Bruce MacEwen and Janet Stanton of Adam Smith Esq. and JDMatch. “Across the Desk” takes a thoughtful look at recruiting, career paths, professional development, human capital, and related issues. Some of these pieces have previously appeared, in slightly different form, on AdamSmithEsq.com.
I don’t know about you, but I find talent markets fascinating. They have several characteristics that make them quite distinctive from regular old goods and services markets:
Talent is extremely heterogeneous; it’s not as if there’s another Honda Accord where that one came from.
Talent is what economists call both “excludable” and “rivalrous,” meaning that if I hire you Suzie can’t hire you at the same time. (Knowledge is the classic non-rivalrous and non-excludable good; everyone can know the same thing at the same time without its impairing anyone else’s knowledge of that same thing, and without shutting off anyone else’s access to it.)
Talent is notoriously difficult to judge in advance, without actually experiencing it, that is to say, without actually hiring the individual and putting them to work in your organization. Some other markets approach this condition of “ignorance until purchased,” such as attending performing arts events or taking a vacation to a previously unknown locale, but the stakes tend to be much higher for all parties concerned in talent markets.
Once talent is hired, it’s stickier than most other purchases. You can walk out of the movie theater or reconfigure your travel plans, but once you hire someone, short of felonious or otherwise appalling behavior, you’re stuck with them for a decent interval.
All this leads to a number of devices and stratagems that attempt to mitigate uncertainty and delay serious resource commitments until some firsthand evaluation can be performed.
I love personality tests. They serve numerous good and constructive purposes. And by “good and constructive,” I mean shamefully entertaining, such has finding out about the best ways to totally annoy your co-workers and how to play crazy mind games with them — core skills that you need to develop to perform effectively on the job.
So when a friend of mine pointed me to an article on personality tests titled The Unique Psychological World of Lawyers, I was intrigued. It’s an older article and a bit on the dry side (at least compared to some of the off-the-wall stuff you can find here on ATL), but the some of the observations and conclusions made in the article about lawyers’ personalities are extremely compelling….
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: