Some law firms try to keep their lawyers under the radar in misguided effort to keep them
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Some law firms trying to hold on to their lawyers are offering special bonuses and perks, making counteroffers, offering more interesting work, and promoting on a shortened timeline.
Then there are the law firms hoping that they can keep their talent hidden from competitors, Law.com reports.
Law firms are fearful because of the hot lateral-hiring market. Law firms “just don’t have enough folks to go around and pick up all of that M&A work that’s floating around out there,” said Laura Leopard, the founder of law firm data company Leopard Solutions, in an interview with Law.com “Everyone is looking to hire the same people.”
Some firms seeking to pick up talent are offering six-figure signing bonuses that could wipe out a lawyer’s entire law school debt, she said.
In response, some firms that want to keep their talent are considering a stealth approach.
One law firm wanted to remove its associates’ biographies from its website, so other firms couldn’t find them, legal marketing consultant Stefanie Marrone told Law.com. Some firms monitor web traffic to lawyers listed on their sites, which could mean that the person is interviewing, she said.
Some firms are also wary of lawyers who engage on LinkedIn because it could mean that they want to network in hopes of finding a new position, Marrone said. She even heard of one firm offering a bonus to those without a LinkedIn presence or those who agree to let the firm manage their LinkedIn account.
Some firms also discourage bar involvement and networking, in fear that the participating lawyers will become known to firms that want to recruit them.
Experts said the better option is to create a work environment in which lawyers want to stay. Law firms should be “recruiting your existing attorneys every day,” Leopard told Law.com.
