Legalis Legal Recruitment

💡 The article by Ben Thomson discusses the challenges and strategies Big Law firms face due to the increased lateral movement of partners, commonly known as "partner poaching." High-profile partner departures can signal instability within a firm, potentially leading to further exits and disruption in key practice areas. Firms must act swiftly to prevent a domino effect by retaining remaining talent through reassurance, pay adjustments, and bonuses. When firms successfully recruit lateral partners, particularly rainmakers with substantial client bases, it can enhance their market share and revenue. Conversely, losing key partners can have a significant negative impact. Rebuilding after such losses is a gradual process, requiring careful planning, compensation adjustments, and efforts to integrate new hires into the firm’s culture. The article highlights a broader industry shift where traditional partnerships are losing appeal, with associates seeking better work-life balance and alternative career paths. Law firms are increasingly adjusting partnership structures and compensation to adapt to these changes while remaining competitive in an evolving legal landscape. Despite efforts to stabilize and rebuild, the trend of partner poaching is expected to continue as firms compete for top legal talent. 📖 Read more: https://ow.ly/XQal50T6fke

https://ow.ly/TEs650T0rll For more information please contact our consultant Ellen Hayes at ellen.hayes@legalisglobal.com. Thank you.

https://ow.ly/reYK50T0rjs For more information please contact our consultant Anita Monus at anita.monus@legalisglobal.com. Thank you.

https://ow.ly/Hulk50T0riG For more information please contact our consultant Tunde Bitter at tunde.bitter@legalisglobal.com. Thank you.

https://ow.ly/nKQy50T0reQ For more information please contact our consultant Alisha Buksh at alisha.buksh@legalisglobal.com. Thank you.

💡 Non-equity partnerships are becoming more common, with 85 of the top 100 law firms adopting this model. This trend reflects a shift in the legal profession, with critics viewing it as a move toward a business model, while supporters see it as a necessary modernization. The non-equity tier provides benefits such as higher billing rates for firms and a transitional stage for associates aspiring to become equity partners. It also helps retain lawyers who excel in their fields but are not necessarily strong business developers. For individual lawyers, the title of “partner” offers prestige. However, law firms must manage these roles carefully to ensure clear communication about career paths and avoid misrepresenting diversity or pay equity. Overall, the non-equity model provides flexibility, allowing firms to retain valuable talent without the pressure of making all associates equity partners, and aligning expectations between the firm and its lawyers about the meaning of “partnership.” 📖 Read more: https://ow.ly/qN6w50T0jfM

https://ow.ly/RIGE50SZ2iW For more information please contact our consultant Alisha Buksh at alisha.buksh@legalisglobal.com. Thank you.

https://ow.ly/GRw450SXpZj For more information please contact our consultant Alisha Buksh at alisha.buksh@legalisglobal.com. Thank you.

https://ow.ly/70fl50SXo21 For more information please contact our consultant Tunde Bitter at tunde.bitter@legalisglobal.com. Thank you.

https://ow.ly/RjoL50SWvzo For more information please contact our consultant Ellen Hayes at ellen.hayes@legalisglobal.com. Thank you.