Think Smart! Lateral Moves Can Be Attainable If You have The Right Resources

While lateral associate hiring has generally slowed in this rough economy and in-house opportunities have become scarce, lateral partners are finding themselves in a favorable job to make a move.  Many firms have increased their efforts to hire partners in the practice areas that are proving to be profitable: intellectual property, bankruptcy, employee benefits, tax and litigation.  But just how do you initiate the change and make it a success?  It’s not as hard as one may think if you use the right tools and resources.

Often our first inclination is to network with friends or colleagues.  Be careful when calling on friends!  It may be true that a friend is always there when you need ‘em, but in the case of calling on a friend at another firm, be mindful of the circumstances involved.  Know their status and position at the firm so his/her influence or recommendation doesn’t backfire on you.  When talking money, it’s never wise to discuss compensation with friends and co-workers.  If your friend offers to counsel you on compensation meetings, politely refuse the offer and handle it yourself.  No need for hard feelings or misguided counsel once they realize you are parleying for higher comp than theirs. 

Remember that you will got to decide if issues with the firm or negotiating with the firm are worth risking the friendship.  Sometimes it’s best to keep your allies at a distance and make your own opportunities.

So instead of relying on friends, why not trust the professionals?  This is your career we’re talking about!  You are a precious asset and should be presented in that light.  An experienced, talented recruiter who knows the market, firm reputations and the right contacts can open doors for you that would never be accessible on your own.  You will know you are in good hands when your recruiter guides you through the entire process – from presenting firms to you that are a nice fit both financially and culturally, to working on a business plan, completing questionnaires, and most of all assisting in the negotiation of your compensation and bonuses.  A recruiter that personally knows the hiring senior partners and recruitment coordinators can provide invaluable insight to a multitude of factors that can affect you including financial performance and stability, management style, and reputation.

Recruiters and headhunters can provide a smooth path to finding your new firm; however, it’s important that you make the initial move.  Don’t just wait for ‘em to discover you!  You’ve to be assertive enough to initiate the first contact if you’re ready for the change.  You need to do your own due diligence on firms that will best costume your practice and clients.  Being educated on the market, firm styles, and what each has to offer the other is working smart.  Often a headhunter is searching for someone to fill a specific slot within one particular firm.  That may not be the optimum position for you.

The key to a winning relationship with an experienced legal recruiter is to work as a team.  Be open to options you may not have considered.  Be sure your agent has quality information about as many firms and opportunities as possible.  Likewise, present firms that you’ve researched to the recruiter.  A seasoned recruiter can give you insight to a firm’s historical financial information; compensation arrangement; sources of capital; client base, as well as other issues. Additionally, you must consider the firm’s culture – will you be happy in that environment?  The way you are treated at your firm affects how successfully you practice law.  With the right support you can become an essential and vital team member.  If the firm is open to your associates joining you in your move and there are opportunities for them to make partner, it shows that they are interested in their strength and longevity.  Your recruiter may have already placed attorneys at a specific firm and can share previous experiences that demonstrate the firm’s culture.

And then of course there are issues of how to handle the process itself.  It may be years since you have had to prepare a resume or answer queries in an interview.  Your legal recruiter can advise you how to judiciously provide information to a firm you’re in negotiations with, what a partner can tell his or her clients about a possible move, and what to expect once you give your notice.  Counteroffers often lure a partner back because it’s easier than the change but do counteroffers ever really prove to be beneficial to the partner? Your recruiter can provide guidance on these questions – rely on them to pilot you through the process step by step.

Be supple and open to new ideas.  Listen and be patient.  Honest, open communication between you and your recruiter will result in more than just one opportunity knocking at your door!  Work smart with your recruiter to discover your new firm and as a result, you, your clients and your new employer all reap the benefits.

Nancy Grimes has over Twenty years’ experience serving the legal industry.  Clients include international, national, regional, local and independent law firms and attorneys.  “Counsel to Counsel” is updated every single week.  Have a question you’d like answered?  Email it to ncgrimes@grimeslegal.com.

Article courtesy of  Nancy Grimes - Founder GLI / Grimes Legal, Inc. - Legal Search Firm
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