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1.
The War for Talent (Click here) The fight for talent is more intense and more ferocious than I've seen in the last 20 years. While I often hear how tough and competitive New York City is, attorney recruitment in Los Angeles, especially at the partner level, has reached a feverish pitch. I only expect it to intensify in 2008 and 2009. In fact, our search portfolio has grown to the point that I'd hire three recruiters in a heartbeat, if I could.
2.
Tripwire Clifford Chance is the world’s largest law firm. It has 29 offices in 19 countries. It has 3,700 attorneys. It has million-dollar partner profits. It has some of the bluest of the world’s blue chip clients. It has a major U.S. strategy. And it has major California ambitions. It is a major California Failure. Working with key West Coast Clifford partners in the early ramp up period and actively recruiting "tent-pole" partners, we eventually came to two inescapable conclusions: Clifford Chance’s recruitment initiatives were dead on arrival and the operation was doomed to failure in California. 3.
On a Tightrope The Daily Journal selected Mr. Lechtick as the legal recruiter to write a year-end wrap-up for 2003 and look at important issues and market trends for 2004. In this article, Mr. Lechtick notes the demise or merger of formerly major firms such as McCutchen, Doyle; Riordan & McKenzie; Lyon & Lyon; Arter & Hadden and Pennie & Edmonds. He writes about a much healthier law firm and business environment in 2004 than the previous three years - especially in the corporate, securities, deal-making and litigation areas. Mr. Lechtick emphasizes the importance of law firm leadership, vision, and the firm’s ability to retain talent as well as capture outstanding laterals. He further writes about the critical importance of the firm’s "platform" in both expanding its client base and attracting top partners. In short, the best-managed firms will continue to do well. 4.
Trading Spaces Law firms that respond quickly and decisively to the changing legal landscape will avoid many of the mistakes their competitors made in 2002. In this "Law Firm Management" article, Mr. Lechtick focuses on five key challenges law firms face. While Lechtick evaluated 2002 trends and what he saw for 2003, the issues have not changed for 2004-2005. In fact, while the names and dates are different, the themes articulated by Lechtick are equally relevant today. In this article, Sandy addresses partner defections; rate pressure; effective management; mergeritis and diversification. He looks at firms and leaders doing the right things and others that have stumbled. 5.
The Real Reason Partners Change Firms In this provocative article, Mr. Lechtick dispels some of the myths concerning partner movement. Where compensation is generally assumed to be the engine for job changes, several other issues are explored which include: Practice squeeze-out; Billing rate pressure; Conflicts; Ratcheting of the practice; Law firm "trade up;" Business development; Slab of beef syndrome; Bigger fish in smaller pond; Synergy and Compensation.
6.
Adapt or Die Law firms are finding that they must conform to new economic realities. This article geared toward law firm leaders, addresses the changing business climate; specific firms that merged, de-merged, splintered or acquired groups; dynamics impacting the changing legal landscape; and key business issues facing partners at all levels. 7.
Pay Raze The wild disparity in partner compensation at the various California firms having unintended consequences. This article explores what partners should look for in moving their practices to another firm or negotiating compensation and other issues at present firm. Book of business, knowing what you’re worth commensurate compensation at other firms and other issues are examined. 8.
Manifest Destiny Southern California Has Become The Place For Branch Offices. Selected by the Los Angeles Business Journal editors, this article examines which large mega firms are coming to California, what this all means and who will be the winners and losers. Lechtick explores ramifications of the changes and how it will further impact the economy and law firms in the State. 9.
The Art of the Hustle In the next millennium, law firms will have to reach beyond merely doing good work. Lawyers with initiative will prevail. This article discusses why law firms, even the mightiest have had to get back to basics. Lechtick highlights eight key components that managing partners and members of their firm should look at increasing profits, expanding the client base, deepening client relationships. 10.
So What's in a Title? Titles are not what they used to be, nor are the responsibilities associated with titles, the same at various firms. In fact, there are significant differences at various firms. In this article geared toward partners, (also relevant to partner-bound associates), Mr. Lechtick addresses the "Of Counsel" question, income vs. equity partner status, plusses and minuses for ownership as well as key questions to address before moving from one firm to another. 11.
It’s Just the Money Myth Lawyers don’t leave law firms to chase higher salaries, contrary to popular opinion. They’re chasing quality of life. In this Closing Argument article, Lechtick looks closely at the quality of life vs. money arguments - the three phases of a lawyer’s life, changes in motivations, those in the "in-crowd" vs. "out-crowd", impact of leadership, culture, touchy-feely and emotional issues. 12.
A ’99 Forecast Law firms looking for success next year had better learn the lessons of 1998. While the article was written in 1998, and predictions made for 1999, the premises are universal and especially relevant for 2001-2002. The seven themes include: Talent acquisition, leadership, passing the torch; women leaders, mergers & acquisitions, sex appeal, courtship and seduction. 13.
How to Interview Just because an attorney went to a prestigious law school doesn’t mean that he or she will be hired. Written with the partner in mind - especially the attorney who has been at the same firm for a number of years or has never had to master "Interviewing Basics 101." In this article, Lechtick exposes the two myths - book of business and pedigree, and examines the importance of understanding the various firm cultures, determining "style" of the firm as well as how to tackle the three job hunting stages - pre-interview, interview and post-interview. 14.
Surf’s Up: Riding Compensation Title Wave With the increase in associate compensation, Lechtick elaborates on the precept that salary increases come with a price and smart associates should understand how to position themselves effectively. With economic changes impacting firms, associates must incorporate a new mindset - not just for partnership, but survival. Specific strategies are mentioned. 15.
Not the Next Latham & Watkins "Bad Moon Rising" was not only well written, well researched and quite accurate, but right on the money. Laura Pearlman wrote a terrific piece. I am continually amazed that so many firms still operate as a collection of fiefdoms run by tribal land barons. Today’s barons may not have the biggest castle but the biggest book and generally the healthiest egos. When Lou Meisinger, a powerful lawyer, leader, rainmaker and the glue that kept the Troop factions together left, the end was inevitable.
16.
Bryan Cave Ensnares Nine Katten Muchin Attorneys In a move to beef up its expertise in international trade, intellectual property and banking regulation, Bryan Cave lured nine attorneys from Katten Muchin Zavis Rosenman this month. |
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