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Legal Hiring Trends / 4th Quarter Outlook

Blogs, Candidates, Employers /

As job growth outpaces the rest of the nation, here is the local legal outlook and legal hiring trends in Texas. According to the fall figures released by the Dallas Fed, 2018 Texas job growth outpaced the rest of the nation, rising to 1st place, up from 9th in 2017. The hot local economy has also impacted the legal arena with law firms setting up shop and expanding operations in Texas at a frenzied pace. Dozens of firms opened offices in Houston between 2001 and 2018, lured by the strong economy, the high-profile energy sector and the growing list of corporate headquarters. Some of the fastest-growing practice areas in Texas include energy, corporate, real estate, international, employment, environmental, and immigration law. This explosion in law firms has created a frenetic lateral market and a near-constant churn in support staff. The growth has brought several recruiting and legal hiring trends into the forefront: Higher compensation To recruit candidates and improve retention rates, employers are increasing the starting salaries for attorneys. Some law firms seek tenured associates with proven track records; others are taking the opposite approach and recruiting attorneys with two to three years of experience and offering training. Amped up Benefits While salary will always be one of the top considerations, more firms are finding that attractive benefits and perks package can tip the balances in their favor. Some of the less traditional benefits and perks include holistic health and wellness programs, gender-neutral family leave, work-from-home options and paid volunteer hours. Focus on Firm Culture Large law firms are seeing Millennials leave to work at smaller law firms with a better work-life balance. Diversity, community service and how associates are treated are all essential aspects of firm culture. Personality Profiles Degrees and experience are essential, however, hiring managers must also determine whether someone will thrive in the organization’s culture. Hiring the right fit can dramatically reduce turnover and increase productivity, translating into higher profits for the firm. Personality assessments are becoming more common to gauge interpersonal skills and emotional intelligence. Tech-Savvy Support Paralegals who can perform multiple duties are in high demand since they can deliver some of the work traditionally handled by associates. Hybrid paralegal/legal secretary roles are more common as clerical responsibilities have become streamlined by technology. Non Lawyer Professionals To remain competitive and innovative, many law firms have realized that they must operate more like a business. Non-lawyer professionals are increasingly hired to handle key marketing and development operations. Some new positions in law firms include chief talent officer, chief pricing strategist, director of practice management and director of business development. Staffing Flexibility Even in a booming market, successful law firms must be flexible and agile. Many are turning to legal staffing firms to quickly scale up talent when projects demand and then reduce when the project is completed. Temporary hires can also be thoroughly evaluated for personality and skill before making a permanent, and expensive, final offer. This option allows firms to increase manpower without increasing payroll expenses. Full-Service Legal Staffing You Can Depend On Collier Legal Search is a full-service legal staffing company that specializes in placing well-credentialed partners, associates and legal professionals at every level in law firms and corporations. Our experience in the industry and a unique approach to building our candidate database consistently delivers results that clients can depend on. We are committed to maximizing success for our clients and our candidates.  Contact us at 832-239-5253 to give us the opportunity to work with you.

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Preparing for Your Year-End Performance Review

Blogs, Candidates /

Are you ready for your performance review? A proactive approach before, during and after your performance review can keep your career moving in the right direction. It’s that time of year when associates meet with senior attorneys, partners or management committees to discuss their performance over the past twelve months. The results of this review can impact salary raises, bonuses, mobility in the firm and prospects. Depending on the size and practice of the firm, annual reviews may be conducted by attorneys in your department, by managing partner(s) or by committee. Attorneys you’ve worked with throughout the year will fill out detailed evaluations of your performance, and the reviewing attorneys or partners will go through them with you. Some firms ask attorneys to submit a self-evaluation before their performance review. A proactive approach before, during and after your performance review can keep your career moving in the right direction. Before the performance review It’s important to know how you will be evaluated. Non-billing criteria can include relationships with attorneys and staff, ability to meet deadlines, willingness to take on work, written and oral skills, pro bono work, and administrative functions just to name a few.  Find out which of these matters the most to your firm prior to your performance review. Look back at your calendar, time entries, client lists, expense reports or any other records to refresh your memory about work completed. If you have a report from your last evaluation, be sure to review the information. In addition to your billable hours, you should keep accurate records of the following: New clients, you brought to the firm as well as new matters for existing clients. Other matters you handled such as recruiting, administrative work, articles or speeches, pro bono, etc. The positive feedback you received. Write down comments made about your work, whether it’s from partners, colleagues, clients, or support staff. Record exact quotes and the date, and save hard copies of complimentary emails and letters. Know your worth. Keep an eye on the market for your position, practice area or industry. A well connected legal recruiter can tell you what the going rate is for your position and the state of the legal market in your area. Keep all of this support material in a binder and take it to your evaluation meeting. During the performance review The immediate goal is to survive the review with poise and dignity! When you hear criticism, don’t whine, complain, challenge, or get defensive. Part of the process is to see how you handle negative comments and it may be one of the toughest challenges you face. Stay calm, respectful and responsive no matter what is said. Refer to your support materials when necessary and make it clear that you want to improve as an attorney. Positive comments will tell you what has made an impression with attorneys in your firm. Be humble about praise and build on it. After the performance review If you receive a written report, review it carefully to make sure the information matches your recollection of the meeting. If there are discrepancies, send a respectful email requesting clarification. If the performance review was oral, immediately write a memo summarizing what was said, and your understanding of how you need to improve. As difficult as it may be, seek out people who criticized you in their evaluations, and thank them. If you believe you were given an unfairly negative evaluation of your work or your prospects, it may be time to consider looking outside your current firm. Conversely, if you received glowing reviews but no raise in pay or position, you may want to find out if you are fairly compensated. Talking to an experienced legal recruiter may help you find out if there are better options available to you. Collier Legal Search is a full-service legal staffing company that specializes in placing well-credentialed partners, associates and legal professionals at every level in law firms and corporations. Contact us at 832-239-5253 to give us the opportunity to work with you.

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Preparing Your Firm for the Holiday Season

Blogs, Employers /

Are you preparing your firm for the holiday season? Here are some ways to maintain productivity through the holiday season and beyond. The holiday season will be here in a matter of weeks. For law firm management, it can be a challenging and stressful time. Some law firms experience a slowdown in December, whereas others are busier than usual in the final weeks as they strive to make year-end deadlines. In addition to the myriad duties that must be handled to close out the year, predictable concerns usually arise that can impact the profitability of the firm. For a law practice, productivity almost always comes down to the billable hour. Here are some ways to maintain productivity through the holiday season and beyond: Maintain an Accurate Vacation Calendar Vacations are an important and critical way for your legal team to recharge their batteries. Allowing and encouraging attorneys and support staff to take their earned time off will reduce burnout and result in a healthier, productive workplace. It is critical to keep track of who will be out, what they are working on and how the work will be covered. The earlier a vacation schedule is finalized, the easier it will be to identify problem areas and plan for them. Remind staff which days the office will be closed and communicate the firm’s policy regarding vacation requests. Use Collaborative Tools Multiple attorneys and support staff may work on a document which needs to be revised several times. During these collaborative efforts, communication can break down; attachments are emailed back and forth, someone works on the wrong version or the email thread is difficult to follow. This can be even more problematic during the holidays when key people are out of the office or on different schedules. Consider using collaborative tools that allow parties to simultaneously work on documents online via the cloud.  Whether it’s a platform designed for business use or one specifically for the legal field, working in the cloud allows multiple people to work on the same document from anywhere in the world, without wasting precious time with the arduous back-and-forth of email. Take Advantage of Holiday Networking Opportunities The season of celebration and festivities means that partners and associates are attending various holiday parties and events with clients, prospects and other industry professionals. Remind staff that their attendance at these events is still an extension of their professional representation of the firm. While holiday parties can be a recipe for disaster and embarrassment, they can also be excellent opportunities to build client relationships, meet potential new prospects, and network in a relaxed and festive environment. Bring in Extra Help An attorney on vacation translates into fewer billable hours for the firm. During the holidays, this impact on the bottom line can be significant. Part-time or temporary associates and support staff can cover the workload and maintain profitability. The temporary attorney’s work can be billed out at the normal firm rate, without the costly salary, benefits and tax implications of a full-time hire. The strategic use of temporary legal staffing can help your firm remain productive throughout the holiday season and beyond. Let us know how Collier Legal Search can help keep your team productive during the holidays. We have contract attorneys ready and available.

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The Dilemma of Mid-Sized Law Firms

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Mid-sized law firms are getting squeezed by these external and internal factors. Sustaining a successful mid-size law firm in today’s legal market is challenging. In 2016, many mid-sized firms decreased in size, became unstable or simply dissolved. Surviving firms in this category realized only a minuscule increase in gross revenue. The most recent Am Law 200 figures show that the Second Hundred, as the Am Law 101 to 200 are known, struggled in 2016. This group includes mid-sized national players, regional firms, prestigious specialist firms, as well as local law firms whose operations are focused on their home state. For nearly half of these Am Law mid-sized firms, growth has evaporated, and profits are declining. Here are some of the external and internal factors that are squeezing the mid-sized law firm: EXTERNAL FACTORS Client pressure Clients are demanding greater value and transparency for their legal service expenditures. This has led to shifts in the traditional billable hour pricing model as clients insist on fixed or flat fee work, or enlist third-party billing review companies to reduce their legal fees. Additionally, corporate clients often require their law firms to add administrative staff to comply with more complex billing, reporting, and compliance requirements. Fundamental market shift Certain consumer market segments are substantially reduced or simply gone. Estate plans and incorporation documents are frequently provided by legal internet services rather than an attorney. Corporate clients are increasingly likely to divide responsibilities for different aspects of a single matter to various law firms, in-house lawyers, or non-traditional vendors. In-House continues to grow More and more corporations are expanding their in-house legal departments, a trend that has been accelerating for years. The growth of in-house capabilities and the work these groups are prepared to handle has significantly reduced the role of outside legal representation. There are fewer publicly traded companies With fewer publicly traded companies, there are fewer potential clients. Landing an account with a large corporation today is more lucrative and will involve more work, but there are fewer such accounts to go around, and they are overwhelmingly represented by the large firms. INTERNAL FACTORS Partner Problems Many firms have too many partners and not enough work. Some partners do not contribute equally to revenue generation and some should have already retired, but can’t or won’t due to financial constraints. For a mid-sized law firm, this kind of top-heavy structure severely hinders profits. Losses are managed by cutting support staff and associates, making it even more difficult for the firm to compete. Escalating Costs Rent, health care, insurance, utilities, taxes, and compensation are just a few examples of costs that creep up each year. In the past, law firms would raise their rates to cover annual increases in expenses. In today’s market, these rising costs can’t always be recouped by higher legal fees because clients will demand savings or services in other areas. Not running the firm like a business. While some firms have management committees with strong business backgrounds, many do not. Most mid-sized law firms are started and led by attorneys who are dedicated to the practice of law but may be lacking in business experience. While this traditional law firm structure may have worked in the past, it is no longer compatible with today’s fiercely competitive market-driven environment. Avoiding change and continuing to think that the market will one day recover to pre-recession levels is a recipe for failure. Local Firms Are the Exception One bright spot within the Am Law Second Hundred shows 90% or more of their lawyers located within their home state, and was also among the strongest performers within the Second Hundred, even outperforming national firms.

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