Maximizing Law Firm Profitability: Hiring, Training and Developing Productive Lawyers

Table of Contents

CHAPTER 1

Defining Profitability: Your Blueprint for Success

§ 1.01         Introduction

§ 1.02         Defining Profitability

[1]          Legal Talent

[a]          SummerAssociates

[b]          Defining theOCI Process

[c]          Associatesand Lateral Associates

[d]          Counsel

[e]          Partners

[f]           ManagingPartner

[g]          Rainmakers

[h]          ServicePartners

[i]           LateralPartners

[j]           SpecialCounsel

[2]          Practice Areasand Practice Group Leadership

[a]          PracticeGroup Leadership

[b]          PracticeGroup Leader Responsibilities

[3]          FirmLeadership

[4]          EvaluationProcesses

[5]          CareerDevelopment

[6]          LawyeringSkill Development

[a]          FormalTraining

[b]          InformalTraining

[7]          ProfessionalDevelopment

[8]          Business andClient Development Focus

CHAPTER 2

Summer Associates and Lateral Associates: MaximizingProfitability Through Effective Hiring

§ 2.01         Introduction

§ 2.02         HiringSummer Associates

§ 2.03         FollowingNALP Guidelines

§ 2.04         NALPPrinciples and Standards

§ 2.05         ASystematic Approach to Summer Associate Hiring

§ 2.06         DefiningYour Hiring Criteria

[1]          Skills

[2]          PersonalQualities

[3]          Behaviorsand Values

§ 2.07         ApplyingHiring Criteria in Entry-Level Recruitment Process

[1]          ReviewingResumes

[2]          EffectiveInterviewing Skills

[3]          EvaluatingStudent Candidates and Making Offers

[4]          TrackingRecruiting Statistics

§ 2.08         TheBehavioral Interview—Keys to a More Effective Recruitment Process

§ 2.09         AssociateLateral Hiring

§ 2.10         TheInterview Process

[1]          EnsuringConfidentiality

[2]          ChoosingYour Interview Teams

[a]          InitialInterview Team

[b]          CallbackInterview Team

[c]          Follow UpInterview Team

[3]          Goals forEach Interview Phase

[4]          GatheringEvaluative Information

§ 2.11         WorkingEffectively with Search Firms

§ 2.12         Diversityand Recruiting

§ 2.13         Sample JobDescriptions for Law Firm Recruiting Professionals

[1]          LegalRecruitment Director

[2]          LateralRecruitment Director

[3]          AttorneyRecruiting and Development Coordinator

CHAPTER 3

Lateral Partners: Maximizing Profitability ThroughEffective Training

§ 3.01         StrategicPlanning for Bringing in Lateral Partners

§ 3.02         InternalPlanning for Onboarding Laterals

§ 3.03         Choosing aTeam to Oversee the Process

§ 3.04         Responsibilitiesof the Committee

[1]          Recruitment

[2]          DueDiligence

[3]          Integration

§ 3.05         SelectionCriteria

[1]          The “What”Criteria

[2]          The “WhyCriteria

[3]          The “Who”Criteria

[4]          PersonalQualities and Cultural Fit

[5]          Next Steps

§ 3.06         TheLateral Partner Recruitment Process

[1]          InternalDiscussions

[2]          ProfessionalLegal Search Firms

[a]          ContingentSearches

[b]          RetainedSearches

[3]          Advertising

[4]          SamplePartner Candidate Selection Criteria

[a]          PracticeConsiderations

[b]          CulturalConsiderations

[5]          Determiningthe Materials that Each Candidate Will Be Asked to Submit

[a]          ProfessionalResumes/Curriculum Vitae

[b]          Lists ofRepresentative Engagements

[c]          Client Lists

[d]          Three Yearsof Billing/Collection Figures

[6]          BusinessPlans

[a]          Permissionsto Conduct Background or Credit Checks

[b]          References

§ 3.07         TheInterview Process

[1]          CandidateConsideration

[a]          Expectations

[b]          Respect andHonesty

[c]          Responsiveness

[2]          Screeningthe Applications

[3]          The InitialInterview

[4]          Follow UpInterviews

[5]          DecisionMaking Factors

[6]          CompensationIssues

[7]          ChoosingTitles for Lateral Hires

[8]          FinalMeeting

[9]          CheckingReferences

§ 3.08         EvaluatingPortable Client Relationships and Revenues

[1]          Overview

[2]          VettingLateral Partners’ Portable Relationships

[a]          ProductionValues and Stage Setting

[b]          Steps to VetPotential Lateral Practices

[i]         Endorsement

[ii]        Goal Accomplished Assessment

 [c]         Vanishing Act: Now You See It