Law Firm Hiring
Go Where the Money (Value) Is
Law Firm Hiring, Go Where the Money (Value) Is
By Laura Leopard
published on LegalTechnologyHub on February 21, 2023
It is not very sexy to save money. It IS sexy to MAKE money. What many forget is that the money you save has as much financial power as the money you make. Those savings can feed into profit, and that profit can go into the pockets of partners at law firms. That is why it is confounding that not enough attention is paid to their hiring and retention numbers.
At many legal conferences, you can usually bet that you will see a session on ‘Moneyball for Law Firms’. Yet, no one is really playing the game. To assess how well your recruitment is doing, you need reliable data and an understanding of the costs of recruitment. Onboarding entry-level hires are expensive and time-consuming, as are lateral hires. If they don’t stay, it costs your firm wasted time and future earnings you believed that associate would bring to your organization.
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