legal staffing Archives

Mid-Market Law Attracts Big Talent

In the current lateral attorney recruiting climate, mid-market and smaller law firms just may have an edge. What Mid-Market and Smaller Law Firms Can Offer Specific perks are offered to lawyers at mid-market and smaller law firms. These benefits continue to attract top talent. Rate Flexibility While Developing Client Base While new 2023 data shows that many large law firms are raising rates by about 10%, lawyers at mid-market or smaller firms often have rate flexibility in keeping with their current and prospective client expectations. Streamlined, Fast Conflict Checking Process New client business is vital to perpetuating any law practice. Conflicts must clear completely before a client can be taken on for representation. At large law firms, the conflict-check process can take a very long time due to the number of matters being handled both domestically and internationally. Smaller law firms can accurately breeze through the conflicts-checking process in a timely manner, paving a clear path to representation while growing market share. Career Development Support and Planning At smaller firms, employees often receive personally tailored career development and planning. At some firms, dedicated hours during the work week are provided to attorneys who may seek real training on how to grow their client base. Also, many mid-size firms engage in strategic workforce planning to ensure a seamless transition when an employee moves or retires. Strategic planning at a smaller firm also means that employees enjoy an open career path with many opportunities for growth both horizontally and vertically. Hands-On Client Matters, From the Boardroom to the Courtroom At smaller firms, less experienced attorneys can often step away from the in-box/out-box daily tasks and are invited to participate in active client representation. Opportunities in both the board and courtrooms can come quickly for these aspiring advocates. WANT TO LEARN MORE ABOUT LAW FIRM PLATFORM DIFFERENCES AND APPROACHES TO THE LAW PRACTICE BUSINESS? Contact our veteran legal recruiting team to learn more. Kay Kurtin Egger, Attorney & Co-Founder of COLLIER LEGAL SEARCH, LLC

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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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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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Filling The Gap Between Experience & Availability

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The rise of corporate litigation, stemming from the COVID-19 pandemic, created a corporate law attorney shortage in the U.S. This shortage is more significant in Texas because several big corporations now call the state home. With many law offices and in-house corporate attorney positions available, businesses are looking for qualified candidates. Explore the corporate law attorney shortage issue and find out how Collier Legal Search can help fill the gap between experience and availability. The Rise in Corporate Litigation Post-Covid In the wake of COVID-19, a rise in corporate litigation has swept the legal industry. Issues put on hold during lockdowns are moving ahead quickly. Also, new concerns that arose directly from the COVID crisis are being brought into litigation. Issues include: Data privacy issues Commercial disputes Bribery and corruption Business interruptions brought on by COVID Fraud Bankruptcy Contract disputes The rise in corporate legal issues has caused a spike in in-house litigation hiring and spending to keep up with demand. In addition, there is a demand for outside legal representation in corporate matters by businesses involved in litigation. Big Business in Texas The corporate attorney shortage is hitting Texas business hard. Several big-name corporations have recently moved their headquarters to the Lone Star State to take advantage of our excellent quality of life. The steady climate, favorable income tax laws, low cost of living, and access to global markets with well-developed infrastructure are attractive. The list of companies that have made Texas their home include: Oracle Hewlett Packard Tesla Dropbox 8VC Firetrail Amazon Named the Best State for Business by the country’s top CEOs for the 17th year in a row, the emerging corporate landscape has shaken up the Fortune 500 lists in major Texas cities. Now, the big players include information technology companies along with oil and gas corporations. Rising Demand for Corporate Law Attorneys While corporate growth is positive for the Texas economy, it has created challenges in the legal sector. With the national increase in corporate litigation cases, Texas has a shortage of corporate law attorneys. The shortage, which began before COVID-19 in Texas, has grown with the pandemic. The corporate growth of the Houston and Dallas metro areas has led to many businesses searching for legal candidates to handle the increase in legal litigation. Lack of Experienced Corporate Law Attorneys It isn’t just the number of corporate law attorneys that is lacking; it is the experience required to handle the complex corporate litigation required by big-name players. Mergers and acquisitions within the oil and industry sector are creating the need for highly skilled corporate law attorneys in large numbers. Many corporations look to grow their in-house corporate law staff, while others look to outside law firms. Although the number of local attorney firms is growing, it has not yet caught up to the rate of its corporate counterpart. Reports estimate that the available number of lawyers has stayed relatively stable since the Great Recession in 2008. Many in the legal field feel that since 2018, the legal need in Texas has grown rapidly, almost overnight, leaving a gap between the availability of lawyers and their expertise, especially in high-stakes corporate law. Filling the Gap Between Experience and Availability To fill the gap between the shortage of corporate law attorneys for businesses in Texas and available, experienced candidates, companies can utilize the services of Collier Legal Search, a full-service legal recruiting agency that pairs you with experienced candidates. Our team of former legal assistants, paralegals, trial attorneys, and entrepreneurs understands the importance of meeting your company’s specific legal needs, as well as how to assess candidates for corporate law positions. If you cannot find a corporate law attorney to represent you, work with Collier Legal to find a placement to handle your cases with legal expertise. Find out how Collier Legal Search can help you find a candidate to meet your needs. Collier Legal Search Connects Attorneys and Businesses Collier Legal Search connects your business with qualified corporate law attorney candidates, so you are covered for all your legal needs. We have built a network of experienced legal candidates to find you the right person. Contact Collier Legal Search today to get started.

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Pursuing the Strategic Advantage Post Covid

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Despite the continuing pandemic, there are many economic opportunities available. Merger and acquisitions (M&As) are exploding at rates unseen in decades, and strong GDP and CPI data show an economy holding steady. The booming economy means an increased need for legal consulting, especially for companies dealing with M&As. Collier Legal Search can help you find qualified legal professionals if you want to further your firm’s growth. Future Opportunities for Value Creation While many companies are presently pausing to determine where the opportunities for value in their business lie, consider these three areas : Growth Companies must seek inorganic growth to stay competitive, particularly by developing their tech and innovation advantages. Companies recognize that this requires expanding revenue potential rather than cutting costs. For example, Panasonic identified its competitive advantage in the shared supply chain sector. They acquired Blue Yonder, Inc, a software developer specializing in supply chain management, in a $7.1 billion deal to develop this area. Scalability Companies seek to scale up in size and reach, influencing the types of deals they pursue, particularly for large corporations, which seem to be more efficient and have access to more capital. These deals involve strategic tie-ups, such as the $30 billion mega-deal between the Canadian National Railway and Kansas City Southern to create a shipping rail system directly connecting Canada, the US, and Mexico. Disruption Disruption refers to an increased commitment to technology as businesses strive to remain relevant in the involved industry. One-third of global deals were grounded in technology, media, and telecommunication industries in the first half of 2021 as companies sought to expand their competitive advantages in those areas. Private equity funds (PE), on the other hand, invested heavily in resilient markets such as healthcare and technology, which experienced the most market disruption during the pandemic. PE investors also pursued investments in new markets such as work-from-home (WFH) and distance learning that reflect long-term behavior changes created by the pandemic. PE investments also targeted Environmental, Social, and Governance (ESG) as the market becomes increasingly focused on net-zero, sustainability, wage inequality, diversity, public safety, and privacy issues. Increase in Available Funds and Affordable Financing Means More (and Bigger) Deals There have been more M&A deals in the last six months than in any other year. Globally, there were 28,175 deals between January 1st and June 30th, with US deals up 264% from last year. There are a few reasons for this growth, all involving an abundance of easy-to-access capital for investments. Interest rates remain low and steady, meaning investors have access to cheap capital they can use to pursue inorganic growth opportunities. Special Purpose Acquisition Companies (SPACs) exploded in early 2021, with over 274 formed. While the SEC announced new financial reporting guidelines in April, slowing down the rate of SPAC creation, about half a trillion dollars needs investment before 2023. A strong stock market means target acquisitions can get a high price, allowing them the luxury of shopping deals. PE companies with large portfolios have rebounded from the pandemic faster than smaller ones. They have benefitted from the strong stock market, allowing them to divest through IPOs earlier than expected and generate more funding. Possible increases to the capital gains tax in the future mean people with capital are seeking to invest it now. Many industries hard hit by the pandemic, such as airlines and cruise lines, face cash liquidity problems and may need to restructure through M&A to survive. Financial Deals Are Adapting The pandemic changed human behavior, which meant financial deals needed to change as well. Uniquely structured investments are becoming more common. Real Estate With the shift to WFH and flexible co-working spaces, tenants have gained power from the property owner. Tenants can now enact more protection into their lease through limited rent escalation and possible rent rate reduction if an economic shutdown impacts the tenant’s income. Shifting real estate deals are not unique to the commercial sector. The National Association of Realtors released a report asking for a “once in a generation” response to the underinvestment and underbuilding of the housing market, resulting in a more than five million unit shortfall since 2020. Rise of the Mega Deal While all M&A deals are up in the first half of 2021, billion-dollar deals have seen the most significant increase, with more than 500 individual billion-dollar deals so far. Many mega-deals, especially those involving large amounts of capital, involve multiple PE investment companies, such as the deal between Blackstone, The Carlyle Group, and Hellman & Friedman acquiring Medline Industries in a $30 billion deal. Collier Legal Search Can Help You Adapt Collier Legal Search is uniquely qualified to use its expansive network to help you find associates, partners, or legal professionals as you build your firm’s corporate law capacity through long-term solutions or contract help. Contact us to help you find the perfect qualified applicant today.

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Changes Gen Z Brings to the Legal Workforce

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Generation Z, otherwise known as “Zoomers,” live up to their name. Zoomers grew up in a fast-paced, technological world, and, as a generation, they value diversity, financial security, and an open-minded, progressive outlook toward controversial subjects. As this generation begins to hit their early 20’s, law firms are looking to understand what changes Gen Z will bring to the legal landscape. Gen Z employees can benefit the workplace with these unique attitudes and expectations. They value personal connections and aren’t afraid to put in long hours when they feel appreciated. The changes Gen Z brings to the legal workforce are progressive and help older generations to remain forward-thinking. It is beneficial for potential employers to understand what motivates Gen Z employees so they can do what it takes to attract them into the legal workforce. Collier Legal Search focuses on providing you with quality Generation Z candidates to diversify your workforce and help you implement progressive ideas that are characteristic of this group of workers. What is Gen Z? Generation Z is a group of people born between about 1997 through 2012. They are characteristically associated with being tuned into technology, particularly cell phones and social media. Gen Z has come to age in the aftermath of 9/11 and the Great Recession of 2008, making them more conservative in financial matters than other generations. They are known for being outspoken about political beliefs and value social justice and environmental conscientiousness. Despite being hyper-connected to smartphones and social media, Gen Z highly appreciates connectivity in both professional and personal relationships. They also respect and support those struggling with issues related to mental health. Gen Z Workplace Expectations Generation Z is the first generation to grow up in a wholly digital world. They are often referred to as “digital natives” and are comfortable with fast-paced, changing technologies in the workplace. This ease with technology influences many of their career-related expectations. Gen Z workers typically expect the following of their employers: Proactive communication Transparency of company operations and management decisions Clear expectations of job parameters Meaningful evaluations and communications Direct, consistent feedback on job performance Diverse workforce Inclusive, collaborative work environment Updated technology and implementation of digital tools Opportunities for career development Flexible hours Authenticity Employers that positively impact the community Why is it Important to Attract Gen Z Employees? Currently, there are approximately 75 million “Boomers” nearing retirement. Although Generation X and Millennials have stepped into these vacancies, there will be considerable gaps in employment in the coming years. It will fall on Generation Z to fill the roles left behind by the Baby Boomers. Therefore, it is vital to attract and maintain Generation Z employees by adapting workplace operations and policies to match these new workers’ expectations. Not only is it essential to attract Gen Z for logistical reasons, but it is also important because Gen Zers represent a shift in thinking on a global societal scale. It is beneficial for the company to embrace the positive changes they bring to the legal workforce regarding diversity, inclusivity, education, and progressive mindsets. How Can You Appeal to Gen Z Workers? Appealing to Gen Z workers is necessary to embrace future generations and forward-thinking legal practices. To attract Gen Z employees who will stay long-term and work hard for your firm, start implementing several changes to your workplace. Show that your firm cares about the environment and social change with demonstrable acts. Gen Z candidates will respect your firm for speaking out on social justice matters or taking on cases that protect marginalized groups in society. Offer flexible schedules and positions. Implement digital tools and offer remote working options to accommodate new modes of work. Be authentic and honest with Gen Z employees, and give them consistent, helpful feedback on how they perform at work. Encourage meaningful collaboration between teams at your firm and foster an environment of professional yet personal connectedness. Collier Legal Connects You to the Gen Z Workforce If you are looking to bolster your firm’s legal team with qualified Gen Z employees, Collier Legal Search can help. We will search for qualified candidates who fit your job descriptions and work with you to establish employment expectations for our Gen Z candidates. We want to match you with potential employees who meet your needs and will be a positive addition to your firm. Collier Legal Search: Your Key to Working With Gen Z If your firm wants to bring in employees from the “Zoomer” generation, partner with Collier Legal Search to find quality candidates for your legal team. We work to present you with candidates that fit your firm’s needs and specifications. We are committed to the success of our clients and employment candidates. Contact the Collier Legal team at (713) 863-8180 to discover how we can aid you in diversifying your team with excellent candidates from Gen Z.

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Shortage of Workers for the Legal Industry

Blogs / collierlegal

With changes brought on by the 2020 pandemic, the legal industry, like many others, went into crisis management mode. Law firms and legal departments furloughed key workers while often also downsizing other personnel. Now, as industry slowly emerges from the pandemic, the practice of law (especially in Texas), has emerged arguably busier than ever. With everything from litigation to large transactions (including mergers and Texas-based deals), many legal employers are searching for employees to rebuild and grow their business. If you are looking for qualified candidates to join your team, but you don’t have the time to wade through applications and candidates, partner with Collier Legal Search. We will help you find skilled, long-term candidates to become an integral part of your legal team. What Caused the Workers Shortage? The 2020 pandemic saw a significant shift in every area of the workforce, from hiring to retaining employees to how companies perform work and collaborate. In April of 2020, an estimated 18 million workers were laid off from their jobs. The worker shortage in the legal arena developed from the following reasons: Choosing to stay home to be safe Layoffs due to budget constraints Layoffs due to a lack of work Litigation was put on hold, affecting all workers in the system Workers who stayed felt overworked or untrained for new duties and quit How the Worker Shortage is Affecting Your Legal Team As things slowly get back to normal, legal firms find that the worker shortage adversely affects their teams. Workers who stayed on during the pandemic had to take on new responsibilities and work longer hours. This has led to burnout and higher rates of turnover in some cases. Without the appropriate staff, day-to-day business operations are complicated, and you cannot focus on the essential tasks. In addition, you may be unable to take on the cases you need to because of a lack of skilled workers in your office. This affects your firm’s reputation and bottom line. Unprecedented Need for Skilled Workers in the Legal Sector Overall, the legal industry is seeing an increase in hiring. Legal mergers are on the rise. Transactional work is booming. Litigation is at some of the highest levels in recent history. In all situations, legal teams are planning for the long term and helping to create new jobs for legal workers. This is especially true in Texas, where there is a growing need for legal services. In early 2021 severe weather, including major arctic freezes, shut off power in some homes and businesses for days. The result has driven court filings far up and on the transactional side of law, many companies are relocating to Texas or moving their headquarters to the state to operate. It all means there is an even more significant need for lawyers and legal workers in all types of sectors. Collier Legal specializes in helping Texas-based legal entities find legal workers for placement in the following in-demand sectors: Commercial Litigation Insurance Litigation Employment-driven Litigation and Transactions Transactional Law including Contracts, Finance, M&A etc. Privacy, Data Security, Intellectual Property Law Bankruptcy When looking at potential candidates, there are several steps you must take. Not only do you need to advertise for the position, but you also have to interview and vet your applicants. This process is a big investment on your end, and it takes time away from other tasks your firm requires you to complete. Because there are more open positions than candidates, employers need to offer more than just a job to bring in qualified, skilled candidates in their doors. Good, skilled legal workers are looking for numerous benefits when joining your team, such as flexibility, the ability to work remotely, career advancement opportunities, skills training, increased pay and benefits, and a welcoming, valuing company culture. In addition to making your workplace desirable to new candidates, remember to show your existing, loyal employees that you value them. Make small changes in the work environment or offer them an advancement to keep committed and knowledgeable workers on your staff. How Collier Legal Can Help Building a team of skilled workers on your own is time-consuming, expensive, and takes you away from more pressing aspects of your firm. A recruiting firm like Collier Legal Search is the perfect solution for quickly finding and hiring new, knowledgeable employees. We can find skilled placements for law firm partners, attorneys, legal administrators, legal support professionals, IT, finance, and office personnel candidates. When you work with Collier, you save time and money and are tapped into legal industry trends. Collier has over 18 years of industry experience with tenured employees and a strong network of vetted applicants for their skills and expertise. We can guarantee placements that stay for up to two times longer than the competition. And to top it all off, the founders of Collier Legal Search are native Houstonians. Contact Collier Legal Search Today As your firm recovers from the trials of 2020, you need to find qualified, skilled individuals to build your team. At Collier Legal Search, we strive to partner you with employment candidates who fit your firm’s specific needs. Our clients and candidates are important to us, and we are committed to their success. Call us at 713-863-8180 to learn how we can support you as your firm recovers in 2021.

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Potential Law Firm Mergers

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For years, law firm merger activity steadily increased, reaching an all-time high in 2019 of 115 mergers. However, with the pandemic and its accompanying economic fall-out, there were only 65 mergers in 2020. As firms capitalize on post-pandemic growth, experts expect significantly higher numbers in 2021 and beyond. In the first quarter of 2021, there were already 26 mergers recorded. Experts predict 2021 law firm mergers numbers could overtake those in 2019. Many law firms offset revenue losses in 2020 with cost controls. After a year of crisis management, law firms have again focused on long-term growth. In a year of uneven economic recovery, law firms might search for growth opportunities through mergers. Benefits of Law Firm Mergers A merger strategy allows law firms to achieve the desired business goal, like growth, geographic expansion, or diversification. Merging with another firm should always increase your firm’s value. There are many specific goals a law firm could achieve through a merger. Add New Services – If your law firm specializes in litigation exclusively, merging with a full-service firm expands the services you can sell to your clients. This promises significant practice growth. Add Clients – Merging with another law firm gives you access to all their clients and vice versa. Explore the type and level of collaboration amongst attorneys at new firms. Increase Billable Rates – Billing rates are not uniform across the legal landscape. Attorneys benefit from upwardly adjusting hourly bill rates when merging with a firm whose clients find the higher bill rates in line with the value they provide. Decrease Billable Rates – If your clients do not want the upper market rate, reduce rate pressure and move to a firm that is mid-market. Manage Your Practice, Not Your Business – Many smaller firms enjoy the freedom from having to manage a business as they merge with another firm that takes over operations. Expand to New Markets – Opening a second office in a new city is expensive and involves hiring new lawyers and administrative personnel. Many firms find it’s more cost-effective to merge with a firm in a different town rather than starting from scratch. You can also benefit from the firm’s existing reputation, reducing the legwork needed to become known in your new city. Fill Knowledge or Experience Gaps – Sometimes, merging with another law firm is the best way to fill gaps in your team. If you wish to expand in a specific area of law, but your team lacks experience or qualifications, merging with another company is a valuable opportunity for both your firm and your attorneys. Although mergers of law firms with a similar ethos and work culture provide many benefits, the strength of each merger centers around human capital. While financial and cultural benefits are meaningful, law firms require excellent legal staff that brings lucrative clients. Should Your Law Firm Merge in 2021? In April 2021, approximately 229 million Americans had received at least their first dose of a COVID-19 vaccine. With these numbers rising, many law firms are optimistic about their economic future. As restrictions ease, court systems can reopen, legal business will increase, and firms can expect a more predictable cash flow. Despite the struggles faced by the legal industry during the pandemic, it responded with innovation and experimentation. To continue growing in 2021, firms keep innovating. Moving forward, firms are re-evaluating office space needs, optimizing talent management, and monitoring their employees’ morale and wellbeing. Although employees may return to the office, firms may choose to maintain their paperless environment while protecting and enhancing client relationships through virtual and in-person contact. Merging with larger firms can help small firms continue innovating. With more financial stability, firms can afford to trial new technologies or policies. The firm may also require more staff, which Collier Legal Search can provide. Additionally, as the economy grows, so will client businesses. Smaller firms may find clients leaving for larger law firms who can provide the legal services they require and be in the places they need to be. Larger firms also tend to have a more influential brand name, appealing to both high net worth clients and legal hires. By merging, smaller firms can hold on to their growing clients and serve them better. Rebuild Before you can negotiate and accomplish a successful merger, carefully analyze your firm’s current market position. Review your firm’s objectives, and alter them if necessary to align with the current market and your clients’ needs. To put your law firm in a better position as you rebuild, either by merging or growing on your own, ask yourself these questions: Are any of our pandemic innovations of value to our clients? How can we maintain and gain new clients with these innovations? Do we need to review our talent to make sure it is in alignment with new demand? How have our competitor firms changed? Are any firms in distress and therefore receptive to negotiate a merger? Collier Legal Search is Here to Help Merging is one way for a law firm to expand and recover after the difficulties of 2020. Choosing the right time and firm to merge with could be the difference between surviving the pandemic and your firm failing. However, after a merger, you may need to increase your staffing levels with competent workers who bring valuable experience. At Collier Legal Search, we understand that each law firm has specific needs, and we tailor our approach to ensure you hire the best employees for your firm. Collier Legal Search is a full-service legal staffing company. We place well-credentialed partners, associates, and legal professionals at every level in law firms and corporations. Our experience, connections, and unique approach to building our candidate database deliver consistent results on which our clients can depend. We are committed to the success of our clients and our candidates. Call us today to learn how we can support you as the legal industry and the country navigate a post-pandemic era. Contact us at 832-239-5253.

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Legal Hiring Practices in 2021

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Hiring looks different in 2021. A global pandemic, a fragile economy, and combative politics have set the stage for a bumpy road to recovery in 2021. For law firms, COVID-19 forced a dramatic change in operations. Many firm leaders took the opportunity to reassess entrenched systems and eliminate inefficiencies that have festered for years. To survive, firms had to run leaner and smarter than ever before. As the economy recovers and businesses ramp back up, law firms expect an increase in corporate litigation, seen in the form of broken contracts, fractured supply chains, bankrupt companies, and challenged agreements. Law firms and legal departments must adapt their hiring processes to meet the unique demands of 2021. Here’s what you need to know about legal hiring practices in 2021. A Shift in the Hiring Landscape Candidate-Driven Market – In early 2020, the hiring landscape tilted in favor of candidates. Hiring managers couldn’t find quality employees, and positions went unfilled for months. Employer-Driven Market – The pandemic caused layoffs and furloughs in nearly every sector of the economy. There are now more qualified candidates chasing fewer job openings. Employers have several advantages when there is a surplus of candidates. Companies have more leverage to negotiate salaries, and they can be more selective. However, hiring managers can quickly get overwhelmed by the high volume of applicants in an employer-driven job market. Changes in Hiring Practices In 2020, businesses changed their legal hiring practices and onboarding processes. Most hiring managers plan to continue some of the remote methods in 2021: Pre-screening assessments – With an abundance of candidates, speed is critical in sifting through the applicants. Automated questionnaires at the very start can identify workers with the right experience. Aptitude and skills tests can find which candidates have the required technical skills. Video interviews – Almost overnight, Zooming became part of our daily lexicon. Most white-collar professionals are now comfortable with video meetings. Recorded video interviews also allow different members of a hiring team to evaluate a candidate. PPE and social distancing – In-person meetings will require social distancing and masks until the pandemic passes. Virtual onboarding – Presentations, webinars, and training videos may take the place of in-person training, at least for some of the basics. Recruiting outside the area – Companies have found that specific jobs can be fully remote. For tasks that don’t require the employee to be in the office, the best candidate may be in another state or country. New Concerns from Candidates Although we have entered an employer-driven job market, employers must still consider candidate concerns. Between the pandemic and recent social turmoil, particular employee concerns have moved to the forefront. Remote work – Working from home became a reality for a vast majority of office workers. Many workers will expect a work from home option, even after the pandemic passes. Health and safety – For the workers that return to the office, health and safety are top of mind. At the very least, employers should be compliant with CDC guidelines. Social initiatives – Many companies pledged to support diversity and social justice. Candidates, employees, and customers want to see tangible action, not just words. Job Security – After the tumult and job insecurity of the past ten months, current and new employees are very concerned about their employment stability. Collier Legal Search is a full-service legal staffing company. We place well-credentialed partners, associates, and legal professionals at every level in law firms and corporations. Our experience, connections, and unique approach to building our candidate database deliver consistent results on which our clients can depend. We are committed to the success of our clients and our candidates. Find out what we can do for you. Contact us at 832-239-5253.

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Leading Productivity Strategies For Law Firms

Blogs / collierlegal

The final months of 2020 will likely look very different at law firms and legal departments across the nation. Having many productivity strategies can help you end the year strong as your firm wraps up 2020 and prepares for the coming year. In a typical year, the final months are consumed with a whirlwind of projects, associate evaluations, promotions, client activities, personal and professional holiday obligations, and planning for the following year. But 2020 has been nothing like any other year in memory. Nearly nine months have passed since the coronavirus pandemic set in, and workers everywhere have gotten used to social distancing, meeting virtually, and working remotely. Year-end activities will now require law firm managers to plan with pandemic modifications in mind and be creative with new productivity strategies. Combat COVID Fatigue Whether it’s COVID-related, holiday vacation, or some other reason, the reality is that many law firms and legal departments are operating with scaled-down staff. A significant percentage of workers are juggling their workload with home-schooling, health concerns, and other uncertainties. As we approach the end of the year, people are also dealing with holiday-related stress, as well as COVID fatigue. Bringing in contract or temporary workers during these final months can help prevent burnout, take over work from absent employees, finish up projects, or lend expertise on complex issues. Expand Your Services Every firm has been in the undesirable position of turning away business because of a lack of expertise. Instead of referring these clients to competitors, consider assembling a remote team of temporary and contract attorneys to augment your existing team or practice group. As one of your productivity strategies, use outside resources to handle these matters can create a much-needed revenue stream in these uncertain times. Rethink Remote Working Traditionally, the legal sector has been resistant in its attitude towards remote working. Partners like to see heads bent over desks, billing hours. There are also issues of data sensitivity, cybersecurity, and client-lawyer confidentiality. Despite these concerns, the pandemic forced law firms to accept remote working. To their surprise, most firms are reporting good results with no loss of productivity or quality. By adopting long-term remote working practices and by creating new productivity strategies, law firms can increase their profits. A permanent remote-work policy can give a firm a competitive edge in hiring. Most candidates prefer to work for law firms with some remote work flexibility. Full-Service Legal Staffing You Can Depend On Collier Legal Search is a full-service legal staffing company. We specialize in placing well-credentialed partners, associates, and legal professionals at every level in law firms and corporations. Our experience, connections, and unique approach to building our candidate database deliver consistent results that clients can depend on. We are committed to the success of our clients and our candidates. Find out what we can do for you. Contact us at 832-239-5218.

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