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Lateral Partner Move

Lateral Partner Move

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Lateral partner moves occur when law firm partners seek a new position, typically with another organization. While a lateral move may benefit the person moving jobs, it can sometimes leave your law firm with a gap both in revenue stream and in headcount. Learn why partners make lateral moves and how you can work with Collier Legal Search to find a qualified replacement candidate. Why Make a Lateral Partner Move? There are many reasons a partner in a law firm might make a lateral move. Common reasons for partners to leave their current position include: Long-term client portfolio growth and rate and retention of client base. Moving to a new firm might create better rates, leading to better client portfolios and networking opportunities.  Improved infrastructure. A new firm may offer a proven, stable structure with strong support systems and people in place. Current work culture. If the work culture at a partner’s current position isn’t the right fit, they may leave to find a more suitable culture fit for improved mental well-being and increased productivity. Growth opportunities. A new firm may provide better growth opportunities than the current firm regarding advancement or personal fulfillment. A better work-life balance. While work-life balance can be difficult for lawyers, the firm culture, location of the firm, and any family commitments can impact that balance. While work-life balance looks different for each person, a firm that offers better opportunities to achieve that balance will help with long-term mental health and work satisfaction. Growth in Texas Over the past several years, Texas has gained national attention for its quickly rising population. Making a lateral move to a firm in Texas could create new opportunities for lawyers for the following reasons: Job opportunities due to business growth. The Texas hiring market shows no signs of slowing down. Firms are hiring partners in many areas including litigation, banking and financial services, capital markets, intellectual property, health care, and bankruptcy. Lack of state income tax. Texas has no state income tax, so partners who move can expect to keep a higher portion of their pay. High-paying jobs. Texas also offers plenty of jobs with higher salaries. Relatively lower cost of living. Depending on the partner’s current location, Texas offers a lower living cost than many other metro areas. Retention Retention is a significant factor in lateral partner moves. Between April 2021 and 2022, top law firms hired nearly 404 lateral partners. When a partner leaves your firm and you begin searching for a new candidate, consider the following factors to attract and retain top talent: Offer performance-based raises. Present a work culture that makes lawyers feel included and visible and ensures they will be treated in a friendly and respectful manner. Make clear opportunities for career progression, advancement, and professional growth. Focus on the social governance factors by hiring and cultivating a diverse gender, race, and ethnicity workforce. Interviewing with Due Diligence When interviewing for a lateral partner move, it’s wise to adopt an organized due diligence approach for the process. Beyond gathering information about work product, clients, and rates, due diligence may also include focusing on specific aspects of the move, exploring competing interests of the candidate’s former law firm, and recognizing appropriate transition steps. What to Focus On When interviewing, due diligence includes focusing on key issues for your law firm and the partner candidate. Obtain information from the candidate regarding reasons for their move and job history. This data can help you determine if they are a good fit for your firm. During the interview, ascertain the candidate’s skill set, personality, and client experience. Discuss their future goals to assess their development potential. Consider economic and profitability questions such as what salary and benefits they expect and how their addition to your firm may boost or hinder profitability. Competing Interests Due diligence during the interview process also includes addressing competing interests and the ethics of bringing on the lateral partner. Consider issues such as: Both law firm’s operating agreements Pre-departure/incoming notice to clients Pre-departure solicitation of clients, colleagues, or staff Joint notices and ballots have been sent to clients Appropriate Transition Steps Due diligence can mean taking the appropriate steps to transition a new partner into your law firm and supporting them in taking proper transitional actions at their former firm. For example, plan for a length of transition and start date that honors their prior commitments with the other firm and inform their colleagues. Announce their hiring early at your firm so staff can prepare for a new addition. Collier Legal Search Can Help Navigate a Partner Lateral Move If a partner at your firm makes a lateral move, work with Collier Legal Search to navigate the change. We offer legal recruiting services that can match you with skilled candidates that can step in and help your firm as you make the transition to a new partner or fill the role permanently. Contact Collier Legal Search to learn more about our recruiting process and how we can help you along the way.

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Collier Blog - Staffing Challenges 2022 Part 2

Staffing Challenges 2022 Part II

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In an effort to retain employees and create a positive culture, employers find themselves with some staffing challenges. Because business must continue, employers are finding new solutions to keep the workflow going. Developing a strong relationship with a qualified staffing firm will aid in employee retention and create the culture you and your employees seek. Explore these ways to keep your organization staffed with competent, qualified workers no matter the circumstances. Problems Employers Face While building a positive work culture and accommodating employees and their families are excellent approaches, there are economic realities of running a business that companies face. You may encounter issues as you balance meeting your employees’ needs and completing your firm’s work accurately and on time. Business Needs to Keep Running If your organization works year-round, there will be times when it is challenging to keep the doors open and accommodate your employees. Major holidays, summer and winter school vacation seasons, and spring break will be times every employee wants to spend with their family. Hiring seasonal staff when your core employees want to be with their families offers an excellent solution to keeping your firm running efficiently. Employees Need Time Off Your employees will need time off unexpectedly. Family emergencies crop up, particularly when employees have children. While employers want to be flexible and accommodating, these unexpected days off can drain productivity and efficiency. Drafting an accommodative policy that still allows work to finish on time will be a sensitive process. Filling in the Gaps with a Staffing Agency One way to ensure that your company accommodates all employees, particularly those with families, is to fill in gaps with a staffing agency. The agency will dispatch competent, qualified workers to fill in for your regular employees when they take vacations or have family emergencies. While you could try to do this independently, using a staffing agency offers a streamlined experience for solving your staffing challenges. Find Permanent or Temporary Staff Not only can Collier Legal Search help with your ongoing staffing needs, but we can also provide temporary staff giving you the flexibility to have a compassionate leave policy while protecting your business and keeping workflows running smoothly. Keep Business Running With temporary workers, your business will function efficiently without disruptions while also keeping your workers happy. Temporary workers can cover unexpected gaps and times when many workers with children will be out, like major holidays or school vacations. Save Time and Money Searching for and vetting workers can be time-consuming. Without replacement staff, you may experience a costly drop in productivity. A staffing agency can source top-performing talent quickly, allowing your business to function seamlessly and without disruption. Develop a Relationship with a Staffing Firm The more you work with a staffing firm, the better they can fulfill your staffing needs. Building a relationship with a staffing firm allows them to understand your business, anticipate your staffing needs, and prepare workers who will match your needs. Knowledgeable About Your Business If you build a relationship with a staffing firm, they can learn the nature of your business and anticipate cycles when you might need extra help. This familiarity can help them have appropriate candidates ready to step in when needed. A staffing firm can work with you when you need temporary staff to cover employee vacations or personal days. Can Best Fulfill Your Staffing Needs If you have a relationship with a staffing agency, they can find the perfect workers for your organization. They will know what type of worker you prefer, what sort of experience and knowledge you demand, and send repeat candidates to your organization as substitutes. The more you work with one staffing firm, the better they can meet the needs of your staffing challenges. Saves You Time Sifting Through Applications Time spent sifting through applications is time you could spend doing more profitable activities. A staffing agency relieves that pressure and provides capable workers who can seamlessly replace your existing staff. With a staffing firm, you don’t need to conduct time-consuming interviews or go through pages of applications; instead, you receive qualified staff on demand. Always Prepared with Possible Candidates if Needed Unexpected absences happen, particularly if you have staff with children. Sudden absences can take a toll on your company and put you in a bind, unable to find a qualified temporary replacement. A staffing firm can have someone on standby, and your employee can be replaced on short notice, allowing them to deal with their emergency and for your company to still meet deadlines. How Collier Legal Search Can Help Collier Legal Search is a recruiting firm that offers solutions for your staffing needs. We can provide qualified legal administrators, IT professionals, attorneys at law, law firm partners, legal support professionals, and office personnel for your company when you need them. Our pool of qualified temporary workers can save you time and money while offering uninterrupted service to your clients with skilled, experienced workers. Contact Collier Legal Search today to find qualified professionals to build your team and improve efficiency at your law firm.

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Staffing Challenges

Staffing Challenges 2022 Part I

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As children return to school in the fall, parents adjust to new routines and a different work-life balance. Once the school year continues, many employees have demands on their time outside of work. Companies must anticipate these staffing challenges and prepare to remain efficient for scheduled and unexpected absences. Ensuring your organization is prepared for employee absences is crucial. You can protect your company from staff shortages by attracting and retaining top talent and building relationships with a firm like Collier Legal Search. Retention of Top Talent 2022 has seen an overall shortage of workers in several fields, but the need for qualified workers is essential in the legal profession. Hiring and maintaining top talent is crucial to your organization’s success. Beyond finding and hiring these top achievers, you need to understand what will help them stay at your organization long-term and what factors might make them leave your organization. Top Concerns for Employers Studies have shown that an employee’s relationship with their bosses or supervisors is key to employee retention. Employees who feel respected and valued tend to stay in their positions longer. Treating your employees respectfully and having staff coverage for necessary family-related absences should be a priority. Flexibility For Family Needs A study by McKinsey found that a shared sense of community and empathetic feelings of togetherness were common at workplaces with high retention rates. Part of this feeling of community is an intuitive understanding of family needs. Companies that are flexible and accommodating of employees with families are more likely to keep them. Flexible Schedules The post-Covid work-from-home era has prompted a rise in flexible schedules. Many parents need flexibility regarding working hours to keep up with short-notice school closings or daycare staffing issues. Remain approachable for your employees to communicate personal scheduling demands. If temporary labor is an option to maintain production, consider calling a company like Collier Legal Search. Creating a Positive Culture Workplace culture has an enormous impact on your organization. According to a 2017 Gallup report, only 33% of American workers feel engaged at work. This low engagement results from poor workplace cultures where employees don’t feel valued or recognized. To combat these issues and retain talent, you must build a positive company culture by understanding your employees and implementing practices that meet their needs and combat this staffing challenge. Having a Supportive Culture Leads To Retention A supportive culture makes employees feel comfortable and at home in your organization. This culture includes: ● Treating employees as friends ● Offering kindness and understanding when someone is struggling ● Focusing on the meaning of the work ● Forgiving mistakes ● Sharing constructive criticism ● Embracing values like integrity, trust, gratitude, and respect Properly Recognize Employee Performance Beyond ensuring employees are supported and understood when they fail, companies must adequately recognize success. Proper recognition must be meaningful and tailored to the employee. Some employees like a quiet chat full of praise; others prefer public recognition. Offering distinction tailored to your employee’s preferences reinforces your company’s understanding and supportive nature. Know Employees Needs Anticipating the needs of your employees is a necessary part of fostering a community and a positive culture. Needs like respect, recognition, and understanding are universal, but a truly collaborative company will also cater to the individual needs of employees. Knowing all the people in your organization will help you know what they need as individuals and help you understand how to meet their needs. Accommodate for Employee Needs Employees want to be understood and appreciated. Each individual will have their own needs, and how willing an employer will go to accommodate that will affect employee retention. If an employee has children, this will be particularly true. Your organization should take steps to accommodate the specific needs of employees and their families, such as offering time off for family sick leave or flexible schedules. How Collier Legal Search Can Help Collier Legal Search, LLC is a legal recruiting firm with nearly 20 years of consistent, top service. For law firm clients, our veteran lawyer placement team specializes in recruitment and placement of all levels of attorneys, from equity partners to associates. Our legal staffing team works on hiring needs for paralegals, legal administrators, legal accounting professionals and more.  For company clients, we work on all legal departmental hires. Should you  need temporary coverage, our pool of qualified legal professionals can offer uninterrupted work production. Contact Collier Legal Search today to find qualified professionals to build your team and improve efficiency at your law firm.

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Interest rates and legal recruiting

Interest Rates Effect on Businesses and Legal Recruiting

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With interest rates and inflation rising, you may wonder how this financial uncertainty will affect your business. As interest rates rise, so does the need for qualified legal professionals. Rising interest rates affect businesses and legal recruiting by increasing the demand for legal professionals, highlighting the importance of developing relationships with a legal staffing firm. Learn more about our country’s current financial state and how interest rate increases may affect your business, so you can determine how to protect your company and hire employees who will provide the most benefit to your business during these uncertain times. What is the Current Financial Situation? The Federal Reserve recently raised its target federal funds rate by .75% to compensate for the runaway inflation that currently plagues the country. The current inflation rate exceeds financial analyst predictions, rising 8.6% this May, the fastest pace since 1981. Surging gas, food, and energy prices are the main culprits contributing to this rise. The outlook for the supply chain looks grim as well. Much of this trouble relates to the Covid-19 pandemic, which has slowed down or completely interrupted product movement at nearly every stage of the supply chain. Factories thought to be too big to fail had to close their doors permanently, and shipping delays abound due to port and railway closures. During the pandemic layoffs, many qualified employees lost their jobs as companies downsized to stay afloat. As the country slowly returns to normalcy, many businesses face worker shortages. Amid the shifting recruiting and hiring landscape, the legal industry has emerged busier than ever, with more employers seeking qualified workers to rebuild and grow their firms. Effect on Small and Midsize Businesses Interest rate hikes impact businesses of all sizes, particularly small and midsize companies that generally operate with a narrower profit margin. Since higher interest rates generally lead to higher business costs, companies with already thin profit margins may find it challenging to grow their business. When operating on narrow margins, outsourcing for staffing needs may seem like an unnecessary expense. However, working with a qualified staffing firm allows you to spend time focused on your business. At the same time, a legal recruiting firm sifts through resumes and vets potential candidates, saving time better spent on your business’ productivity. In such a tight hiring market, developing a relationship with a legal recruiting firm saves money and increases profits in the long run. What Industries Are Most Affected? High-interest rates affect businesses in every sector, but industrial and manufacturing companies and commercial real estate companies seem to be particularly hard hit by these higher rates. The commercial real estate industry has suffered due to Covid-lockdowns and the move to remote work. In contrast, the manufacturing and industrial industries have seen significant supply chain and transportation issues. Conversely, some businesses are discovering that the shortage of workers in the wake of the Covid-19 pandemic is opening up new and exciting possibilities. The legal industry, for example, saw a general downsizing during the pandemic but has proved that it can survive even the worst financial conditions. Now, law offices across the country are returning to work with a vengeance and actively hiring swarms of new employees. Many law offices use experienced law recruiting firms like Collier Legal to find the best employees on the market. Why Choose Collier Legal? As the need for experienced legal staff increases, developing a relationship with a credible staffing agency will streamline your hiring process and ensure you recruit the best talent for your law firm. At Collier Legal, we help you find the best legal talent for your business. With over one hundred years of combined experience, our staff has a reputation for excellence in finding and matching candidates to legal firms of every size. Sifting through resumes to find the right person for your company can be challenging and time-consuming. Let us help you with the recruiting process. Call us today or fill out a contact form online to get started.

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Gender Diversity in Law Firms Impacts Success

Gender Diversity in Law Firms Impacts Success

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Achieving gender diversity at all levels of the legal field is essential for creating an equitable and prosperous law firm. The advantages of gender-diverse associates, management, and board members cannot be ignored in the hyper-competitive law industry. Research shows that gender-diverse law firms achieve 10% higher client spending and are 15% more likely to earn above-average financial returns. Given the numbers, firms must take action to increase their gender diversity. However, firms seeking a gender-diverse workforce face several challenges on their path to diversity. To counteract the unconscious bias and domestic responsibilities that most frequently block women’s advancement to positions of power, firms need to create a culture of inclusion, hire ESG (environmental, social, and governance) consultants, and codify hiring and advancement quotas. How to Build Gender Diverse Legal Teams and Leadership The key to building gender-diverse legal teams and firm leadership is attracting women with a gender-inclusive culture, offering flexible work options, and countering unconscious bias. Women make up over half of current law school graduates, so there is no reason for lack of representation at every level of a firm. Build a culture of diversity and inclusion Company culture is hugely important in attracting and retaining women in the workforce. Start creating an inclusive culture by giving your workers anonymous and non-anonymous ways of providing feedback. Consider hiring an ESG expert to assess your firm. They can determine which departments lack gender diversity and provide guidance on implementing gender-inclusive practices to promote company growth. Start a woman-to-woman mentorship program where women in higher positions meet with newly hired women to discuss and advise on careers. The most critical action in creating a culture of diversity is hiring and promoting more women. Hiring, retention, and advancement quotas Hiring quotas are legal if they are meant to fix a gross imbalance, do not unduly harm others, are temporary, and are regularly reviewed. Many firms have a gross inequality of gender diversity in their management, equity partners, and board of directors. Setting goals or quotas to match the gender makeup of the labor pool in these areas is an excellent practice to implement. Counteract unconscious bias and cultural obstacles Gender biases are usually unconscious, but they are undeniably detrimental to gender diversity. Simple fixes like removing gender indications from application materials and gender-based hiring and advancement goals can counteract unconscious bias’ adverse consequences. Women’s disproportionately large domestic and caregiving responsibilities are often cited as the most significant obstacles to career advancement. Providing women with flexible work alternatives, like remote work, helps overcome this cultural obstacle. Many companies already recognize the importance of alternative work options, so offering flexible work may already be part of your business structure. Expand it further with childcare benefits and flexible work hours. Culture of Diversity Creating a culture of diversity is essential to attracting and retaining high-quality talent. It acts as a magnet for talent because satisfied workers are a company’s strongest recruiting tool. Improving worker morale through an inclusive work culture also increases employee retention, which allows your firm to advance women to management positions. A diverse work environment shows continual benefits as women move into leadership positions. It creates an even more inclusive space that attracts high-achieving women to the firm. To create a culture of diversity, begin by hosting allyship seminars, setting hiring goals, and asking for continuous feedback from your current employees. As you implement these strategies, you can watch as your firm grows more diverse. Women in the Legal Field Most firms have been focusing their diversity efforts on entry to mid-level positions, with women well represented in junior to senior level partners. Firms’ biggest challenge is retaining women to advance them to management and board of directors positions. It is beneficial for firms to overcome this obstacle because clients primarily want women in positions of power. Always ask your clients about their opinions on your firm’s gender diversity because client feedback is a strong influencer in favor of more gender inclusivity. Top Firms are Leading the Way Some of the world’s largest law firms, including Freshfields Bruckhaus Deringer and Linklaters, are leading the legal industry in gender diversity in positions of power after appointing women to be executive leaders. The legal field is creating a pipeline for the best women to overcome the obstacles and get a fair chance for the top positions. Many firms are also working with ESG experts to lead gender diversity. ESG factors provide legal firms with helpful guidelines regarding building a gender-diverse workplace. By partnering with an ESG expert candidate, your firm can adhere to socially progressive hiring criteria. Given the advantages of diverse workforces in legal firms, it is to every firm’s advantage to make this advancement pipeline a reality. A change toward gender diversity in law firms is occurring across the industry, and being a leader in this change is financially advantageous and morally correct. Hire Qualified Women Through Collier Legal Search While there are some obstacles to overcome to increase gender diversity in law firms, finding qualified women to hire does not have to be one. At Collier Legal Search, we take a consultative approach to connecting the best candidates for every open position. While your firm focuses on creating an inclusive culture, we send highly qualified candidates to uphold that culture and advance to positions of power. Contact us for more information on how we can help you increase gender diversity by providing ESG experts and offering smart candidate placement. Collier Legal Search founded by Kellie Collier and Kay Egger is a Woman-Owned Business.

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2022 Hiring Trends

2022 Hiring Trends

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As the new year begins, law firms are still reeling from a skilled worker shortage brought on by a strong economy, the lasting effects of pandemic layoffs, and the great resignation. In May 2021, there were 8,268 open positions for lawyers across the United States, a 150% increase from early 2020. This is not surprising when reports of mass resignations are paired with increased corporate demand for legal services. The result of the trends catalyzed by the global pandemic is that 2022 will continue to be an applicant’s job market. Firms need to use their hiring budget to develop employee-friendly characteristics, like flexible work schedules, to attract qualified employees. Law firms also need to invest in technology that supports hybrid working models. If companies can implement successful hiring changes, there is significant potential for business growth. Demand for legal services is high, and the job market requires firms to invest in new hire recruitment. Learn the 2022 hiring trends and how to get the best talent for your firm. Candidate Driven Market Applicants have the advantage in a job market when there are a lot of available openings. Since workers are not threatened by the prospect of a long job search, they are willing to leave their job for another one. 2021 saw significant increases in employee turnover in professional services, with quitting rates per month increasing from 2.9% in 2020 to 3.7% in 2021. At the same time workers were leaving their jobs, the demand for legal services was at a record high, resulting in the few applicants applying for positions vying for higher salaries. There were more mergers and acquisitions in the first half of 2021 than in the past 20 years. In addition, the pandemic created a backlog of cases that firms have started to work through as courts open in-person hearings and make virtual hearings more efficient. Emphasis on Valuing Employees and Accommodating Their Needs If law firms want to maintain or expand their client pool in 2022, they need to stand out to potential employees by putting them first. The candidate-driven job market affords candidates too many opportunities for firms to offer average job packages and expect them to come on board. Firms need to accommodate the new job ideal that most young professionals seek. It is characterized by improved employee experience via company culture and work flexibility. Job seekers will assess their employment options based on the company culture and whether the working environment benefits them emotionally, mentally, and physically. Create and Support a Strong Employer Value Proposition (EVP) Employer Value Proposition (EVP) is the promise you make to legal talent about what your firm and the job offers. A strong EVP includes more than pay, benefits, and training. An EVP that works as a recruitment tool also lists company culture distinctions, the job’s role in the company’s goals, and the differences between your firm and the competition. Writing a compelling EVP is one thing, but your firm has to support your EVP for top talent to sign on and stick with you. Consequently, firms invest more in recruitment packages and employee retention services like flexible working arrangements. Work Flexibility The recent shift to at-home work uncovered the potential for workplace flexibility, and workers want this to continue. 84% of workers want the option to work from home, so a firm without a remote work option is at a hiring disadvantage. The most attractive firms for current candidates invest in quality training that allows employees to work successfully in the office, remotely, or in a hybrid model where they work from home a few days a week. Firms with freelance opportunities also expand their candidate pool by attracting applicants who don’t want to be tied down to a single company or position. Technology’s Role in Hiring and Retention AI or automated computer systems are gaining prevalence in the legal industry because they make firms more efficient, are compatible with remote work, and improve the client transfer process. As lawyers find new jobs and bring clients with them, it is more important than ever to have efficient client transfers. AI client transfer systems remove manual steps, like document accumulation, so that a firm’s attorneys can focus on billable work rather than clerical work. The AI systems also afford new hires the flexibility to work at home because their client transfers no longer require effective communication and collaboration with the client and new firm. Connect with Candidates at Collier Legal Search 2022 has the potential to bring significant growth to law firms and provide workers with jobs offering lucrative benefits. The hiring trends are based on candidates having the upper hand in the labor market, so if firms want to capitalize on the growing demand for legal services, they need to offer significant perks to candidates. Firms can use the legal staffing recruitment services that Collier Legal Search provides to connect with the best legal talent for their open positions. Collier Legal Search has 17 years of legal placement experience and can quickly fill your firm’s temporary or permanent openings. Contact us today with any questions about our placement services.

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