As the calendar year comes to a close, there is a lot to do at most law firms. Activities like collecting bills, distributing profits and casting next year’s budget can occupy many a leadership team. The tasks at hand can be time consuming and all engrossing. Given the importance of these short-term issues, thinking about
Law Firms and Retiring Partners-The Issues Extend Beyond the Financial Ones
At a growing number of law firms, the Boomer generation is reaching the age when retirement among the ranks has partners leaving in increasing numbers. Recent writings, including Debra Cassens Weiss‘ As Baby Boomer partners retire, law firms face increasing costs and client issues, have noted the numerous and significant financial issues for
Law Firm Lateral Hiring: Preparing for the Upcoming Free Agent Season
As law firms prepare for the last half of 2016, the ingredients for the lateral hiring stew are being added. Firm and individual lawyer performance on the year, bonus expectations and realization, internal law firm management and politics-all will be factors in determining individual lawyer contentment. The same factors, viewed from management’s perspective, will drive
Law Firm Succession Planning and the Millennial Generation-Covering Achilles’ Heel
Last week saw Vault.com release its 2017 survey of the best law firms to work for and O’Melveny and Myers is the new reigning champion. Among quality of life factors that matter to many of today’s associates, the firm scored first in satisfaction and honors, and placed second in firm culture, leadership transparency and substantive
Moving Laterally? – Being Careful is More Important Than Ever
Movement of attorneys between law firms is as robust as ever with today’s lateral hiring not just focusing on the hiring of individuals. Firms seeking to fill out capabilities often hire away groups of lawyers in an effort to gain some velocity from their expansion strategy. True mergers, especially when a large firm is eyeing