Archive for December, 2008

The Power of the Handshake

I was recently at a networking event and met someone with a handshake that was memorable- but not in a good way. Upon introducing himself, this person proceeded to crush my hand with a death grip and a brash smile. Immediately, this colored the way I perceived him and my impression of him. My thoughts went to “hmmm… this person seems to be overly aggressive and maybe a bit insecure.”

Now, don’t get me wrong- I am all for a firm handshake that exudes confidence and professionalism. The handshake I encountered however, led me to think that this person was a bit obnoxious and full of himself. After talking with him for a while, I struggled to keep an open mind about this person and his representation of himself. I consider myself to be a pretty non-judgmental person in general, but I must admit that this first impression did stay with me for the rest of the time I was in this person’s presence.

On the opposite end of the spectrum are those folks who have the limp handshake upon meeting someone new. I wince at these types of handshakes as well. When meeting someone new, you want to avoid the feeling that you are shaking hands with a lifeless being. I can’t be alone in this feeling.

Therefore, it is important to remember that eye contact and a firm (yet friendly) handshake can give many positive cues to the person on the opposite side of your handshake. Like most things in life, a good handshake is something that is best executed in the happy medium spectrum of things. An approachable smile and non-clammy hands don’t hurt either.

Bye Bye Bell Boyd, Hello K&L Gates!

I just learned that K&L Gates distributed an internal memo announcing that the firm has entered into discussions with the Bell, Boyd & Lloyd LLP in Chicago “with a view to combining the two firms in the first quarter of 2009.” (Bell Boyd distributed a similar memo today). I must admit that my first reaction was one of sadness. After all, as a native of Chicago who practiced at two mid-sized law firms in the city, I have many friends and former colleagues who work or have worked there (okay, I also have a close family member who spent 40 years there as well). Bell Boyd has been a significant part of the Chicago legal market for countless years, and to see it dissolve into K&L Gates made my stomach queasy. Just a few short years ago, it was known as “the” place to work. Associates who secured jobs at the firm were considered some of the luckiest people around.
Thankfully, my first reaction only lasted a moment. My second reaction to this announcement was one of excitement. After all, there is always more than one way to view a major change, and I am making a conscious effort to see this as a good thing for the attorneys at Bell Boyd and the Chicago legal market. Sure, it’s sad to see a highly regarded player in the Chicago market disappear, but it is also exciting to see the entrance of another one. K&L Gates is a global firm with over 1600 attorneys and 25+ offices. In fact, it is one of the largest firms in the world. The addition of such a major player to the city of Chicago is exciting and will surely provide legal opportunities for many Chicago attorneys in the future. So, while I am sad to see one of my favorite Chicago firms say goodbye, I am watching with great excitement and anticipation to see how K&L Gates fits into the Chicago market.

Broaden Your Scope to Improve Your Job Search

One mistake that many candidates make is to focus their job search too narrowly on a tiny geographic region or a small group of law firms. For many reasons, this narrow focus can result in fewer opportunities and — equally as important — lower quality positions, than the candidate might otherwise find by “thinking broader.”

There have been numerous recent articles discussing how mid-size firms and firms in smaller markets are better positioned to ride out our current economic storm. These firms tend not to over hire, typically keep their overhead low, and generally are more in tune with the ups and downs of the economy. Further, as clients look to cut costs, many are shifting work (and funneling new matters) to smaller firms in regional markets that have lower billing rates than BigLaw.

For these reasons, to increase your chances of a successful job search, you need to think outside the box — and the major cities. For example, if you are conducting a job search in Los Angeles, expand your search to Orange County, Riverside and Santa Barbara. If you are looking at San Francisco, broaden your scope to Oakland, Palo Alto, and even Sacramento and other smaller regional markets.

In most cases, not only will your expanded search yield more interviews and offers, but you will be pleasantly surprised by the sophistication of the practices at these smaller firms, not to mention the relaxed atmosphere and improved lifestyle.

Remember, you never have to accept a job offer, and it doesn’t hurt to explore! Give it a try and I guarantee you will be pleased with the results.

Partner Growth Down By 50% At AmLaw 100

I read the most unbelievable article today on LawCrossing.com This article to me was one of the more significant articles I have read in a long, long time about the legal industry. In my opinion, what this article talked about has pretty significant implications for us all. Specifically referring to a West peer study and AmLaw 100 law firms the article notes:

The month of August saw the highest contractions in billable hours, about 5%. However, a slight surge in September brought the overall quarterly billable hours down only 2.5%. Also, the recent layoffs at large law firms resulted in a slowdown in attorney hiring practices, which came down 6% from last year. New partner growth at law firms was reported as half of that of the previous year.

Hiring down by 6% is a huge number in my opinion; however, even more striking is the fact that the partner growth was reported to be half the previous year. This is a huge number and a massive decline. If these numbers are down by an incredible 50% this means there is a lot less opportunity for people to be moving up.

One thing I think we will be seeing a lot more of in the near future is the growth of smaller firms which have less overhead and are more than happy to take on smaller clients. Many of the larger law firms simply cannot support partner growth.

The idea that the number of partners being made could decline so rapidly is a very serious warning. Firms simply no longer have the space for them in their ranks. The idea that upward mobility for attorneys is stalled will have serious long-term implications on attorneys choices in the future I believe.

Be flexible, be smart, stay connected, don’t make assumptions!

Need a crystal ball?

It is probably safe to say that there is more than the usual amount of head scratching by those of us who try to predict the future and create strategic business plans.

It is a time of opportunity as well as challenge. In the legal field, a few key skills will keep you on track, in my opinion.

First, don’t resist change. The legal and business landscape is changing in a fundamental way and we all need to change with it if we want to stay professionally “healthy.” For those aiming at a law firm, consider reformulating your goals. Be open to change in practice area, size of firm, or geography. If you are an established senior attorney, you may need to consider a new platform to keep your careeron a firm foundation.

Second, read as much as you can about current events and use your innate intelligence to formulate a plan that will meet your goals.The more you know about the principles of business, economics, the global economy, law firm management, and the myriad forces driving law firm clients to make business decisions, the more you can strategically position yourself for success (however you define it). No one has all the answers right now. Seasoned partners as well as first year associates are facing similar challenges. The people who can assess a dynamic situation with sophistication and knowledge of complex systems will do well. Don’t stick your head in the sand.
Third, stay connected. In locating opportunities you want to maximize your exposure to word of mouth and people who will vouch for you. Many stellar junior associates ask me what to do to fill their time while waiting for “big firm” hiring to pick up. Some are returning to performing legal research for professors. If this will lead to expanding your contacts, publishing, speaking, or committee work, great. But, I would be leery of retreating into the ivory tower if you will only be interacting with one or two other professors. Unless the ivory tower is your goal. If your daily work routine is somewhat isolating professionally, use your online resources to stay connected virtually.
Fourth, don’t make assumptions. Position yourself well, and be ready for surprises. A stellar federal law clerk, junior associate candidate just called me and asked if she should assume that a career in abig firm will not be for her. As of today, the first day of December in 2008, I would have a hard time placing her. But most predict that litigation is going to pick up. Last week I testedthe market by sending out scores of inquiries to law firms for a similar candidate. Five firms requested the candidate’s resume. Not a great percentage. But the five firms were seriously interested. The candidate may get a job at a good firm. Don’t write anything off. Explore multiple options.
The same goes for senior associates and partners trying to hold together a book of business. Time to study the market, and make adjustments. Old patterns and relationships may not suffice. Expand your network, meet new people. Use your analytical skills to reformulate your personal business plan basedon current conditions. Help your firm evolve.
All of this takes work and effort. The uncertainty can be draining. But, you made it through law school, didn’t you? You made junior partner, didn’t you? We are using the same skill set. Hard work. Study. Intelligence. Focus. Courage.
These are exciting times. Use them to your advantage.