Within this article we will look at how the market is changing, the expectations of law firms when making lateral hires and how you can retain focus throughout your search.
The economic climate in recent years has changed the legal landscape, prompting law firms to drill down into their profitability and long-term strategic plans. This, in turn, has meant that firms are attracted to lateral hires but only when there is strong evidence of how this will add to the bottom line and will benefit the firms strategic growth plan.
So how do you demonstrate your value? The presentation of a succinct, focused and commercially astute business plan is an essential part of the process and this is something that eNL Consultants will happily guide Partners to tailor to each individual opportunity. You will be expected to demonstrate your contact book and how this will financially benefit a new firm. It will also be an expectation that you have leadership capabilities and a proven track-record of gaining results from your people. Your commercial acumen, business development skills and strategic approach will need to be clearly demonstrated at every step of the process.
As you can see, the demands and expectations on how you can deliver to your new firm are high so it is vital that this move also meets your own career goals. As your search evolves you may become blinded by what these new opportunities can (and cannot) offer and when the stakes are so high it is important to ensure that you keep a clear focus on your personal goal. Our team will help you to understand current market conditions, we will work with you to assess the risk and ultimately will advise you on whether the opportunities available will provide you with the ‘significant advantage’ not available in your current firm.
To discuss a Partner move in more detail, please contact one of eNL’s specialist Consultants on 0121 454 1004 or 0207 183 8586.