Great Reputation -- No Business: how to jumpstart laterals lacking BD experience
Posted on July 6, 2021 by J. David Harvey
The lateral market continues to be red hot. Widespread acceptance of remote working has opened up new possibilities for those candidates who are not physically in the major markets. “We have not seen this level of lateral move activity in many years,” said David Ris, a recruiter at the McCormick Group. “Further, the pace of government lawyers moving to private practice is well above what we typically see following a change in administration.” Yet the hiring process is still fraught with danger, with red flags lurking behind the scenes; often not caught before the new partner joins the firm. As I wrote this time last year, the chance that your new partner will be with the firm in two years from the starting time is a coin flip — 50/50.
The Science Emerging Behind Effective Team Collaboration
Posted on April 27, 2021 by J. David Harvey
In the Am Law 200 law firm world, client teams are one of the drivers for retaining and expanding existing client work. This article by LawVision's Dave Harvey discusses some of the research-based findings that are now putting some science and further definition around the art of collaboration.
The Evolution of the Law Firm Client Team
Posted on February 23, 2021 by J. David Harvey
Remember when "client team" referred to just the attorney's billing to a particular client? With flat demand for legal services now and for the foreseeable future, law firms are in a race to increase market share with their existing clients. The most innovative firms have stepped up their game. They have sophisticated teams that utilize professional staff to goose client service, identify cross-serving opportunities, and transform the relationship into a true business partnership — all while making the relationship partner look good in the process.
Collaboration Reimagined: New Assessment Tool Aids in Understanding Team Dynamics
Posted on October 20, 2020 by J. David Harvey
The virtual world leaves some gaping holes in the way law firms need to operate. Especially when it comes to team collaboration, we must all deal with an environment that is not natural for fomenting human interaction. We have all been on Zoom calls with ten or more people with frequent talk-overs or long periods of what seems like awkward silences. A room full of people who know each other — together in the flesh — sparks natural energy that we can no longer tap for at least the immediate future. That makes understanding the dynamics of team collaboration that much more critical.
Successfully integrating lateral partner hires: more important — and difficult — than ever
Posted on June 29, 2020 by J. David Harvey
Integrating laterals into a new firm has always been a risky proposition — more than half do not remain with the firm for more than two years, costing firms from 200 to 400 percent of the attorney’s actual compensation. The challenge of lateral hiring has never been greater than in the current environment with firms continuing to operate remotely, greatly diminishing the opportunity for onboarding new talent face to face. This article provides a list of best practices to consider in order to give your lateral hires the best chance at success in a virtual way.
The Time is Now to Revamp & Ramp Up Client Team Efforts
Posted on May 13, 2020 by J. David Harvey
How do you maintain relationships and provide value in a contactless environment? In a recent survey of Washington, D.C. area law firm marketing leaders, two areas stood out: client teams and industry-focused efforts. While these leaders expected a huge decrease in certain activities (like events and the number of pitches), they anticipate an increase in client teams and industry-focused activity. In fact, with the unprecedented and volatile market changes, now is a prime time to reinvigorate client teams and industry-focused efforts.