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The War for Talent and Business Downturns

Law firms that take a short-term view on talent during an economic downturn will find themselves paying the price. Rather than a cutting-back period, the breather afforded by a slowdown in work is a good time to redouble efforts on a review of the firm’s recruiting policies and practices, and its approach to professional development. + read more

The Return of a ''Buyers' Market: Suggestions to Law Firm Recruiting Coordinators for How to Best Navigate the Changing Legal Market in 2011''

Although, for some, it seems a long way off, most of us recall the booming legal market in late 2007/early 2008 as a time when associates and partners could move from firm to firm with relative ease, and were able to negotiate salaries, bonuses and start dates with much more flexibility than in recent years. This was certainly a "buyers' market," which strongly favored attorneys over law firms and which required firms to act and often negotiate quickly in order to secure the best and brightest attorneys. + read more

The Emphasis on New Clients and Partner Compensation

There are as many variations of partner compensation plans as there are law firms. Most are well intended and targeted at rewarding those efforts that the firm values, or thinks it should value, most. + read more

The Changing Interview Landscape

While there is a general degree of consistency in the entry-level hiring process for law firms, which you likely experienced during the annual on-campus interview process at your law school, the interview process for lateral hires has continued to change over the past two decades, and has generally become less standard as time goes by due to firms experimenting with a variety of interview procedures, evaluations, and techniques designed (presumably) to ensure the best hiring and retention processes to build their business. + read more

The Argument for Eliminating Lock-Step Partner Compensation

Eliminate Lock-Step Model and Reward Performance, Not Time Served Beginning at the end of 1999, law firms began accelerating the rate at which they increased associate compensation. This trend literally moved at “Internet speed:” within three months, associates nationwide were deemed to be worth substantially more than they had been when hired, sometimes only a few months earlier. + read more

Law firms and Their Future in the Changing Legal Industry

When considering and, specifically, the nature of marketing legal services in the future, the best guide is empirical data of two kinds: (1) law-specific data combined with (2) information from the mature unregulated service professions. + read more

Is Your Pay Structure Causing a Partner Exodus

Were most of your partners satisfied when the firm allocated remaining profits last year? + read more

How to Recruit Great Lateral Attorneys

Many of the practices that lead to successful lateral hiring are basic common sense. In many instances, however, BCG Attorney Search has found firms mistakenly adhering to a number of practices that seriously undermine the success of their lateral hires. These include: + read more

How to Market Your Law Firm to Potential Lateral Hires

Marketing is now part and parcel of what it means to be successful with lateral recruitment, especially in a marketplace where the most coveted prospects want to know why they should join your law firm and not the one down the street. Consequently, it's up to you to devise ways to communicate your firm's uniqueness. In order to effectively market your firm, you must first develop a plan to: + read more

How to Make Sure that Your Laterals Provide Value to the Firm

Most law firms have taken on a lateral who didn't produce as expected because something fell through the cracks during due diligence: + read more

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