Compensation & Benefits for Law Offices
Compensation & Benefits for Law Offices is an indispensable reference for law firm recruitment, training, compensation, benefits, and HR managers who want and need to keep pace with what it takes to successfully recruit, retain, train, reward, recognize, and compensate top legal talent. Each issue provides you with a sneak peak at law firm best practices; critical news; important new trends, tactics, resources, new products; and more. It’s a virtual blueprint for success in today’s highly competitive market for legal talent and a resource containing information that law firm professionals can and will use daily.
June 2008 - Table of Contents
Many argue that law firm diversity committees are paper tigers with little support from partner/leaders and, consequently, little impact. True or not, it’s interesting to note that more large firms are now setting up programs aimed at showing their commitment to diversity.
What a difference nine months can make! Today, talk of a slowdown in law firm recruitment and notable cutbacks in summer associate programs at large law firms are common. The picture, however, was far less grim during last fall’s recruiting season.
Has the law firm hiring boom gone bust? Although it would behoove law firm leaders to overlook the much-touted staffing shortage fueled by the impending retirement of baby boomers, exclusive data from our Law Firm Practice Management Performance Benchmarks Survey, 2008 Edition, show a "cooling" of interest in talent acquisition.
Midyear evaluations, even for law firms that don’t traditionally conduct them, are now more important than ever. The waning economy, coupled with the decision by some large firms to cull their ranks, means it’s time to turn reviews into a formal performance management program aimed at creating a solid basis for professional development, assessment, and rewards.
Law firms are accustomed to the survey process, largely because of the recent proliferation of studies about and for the legal profession. Consequently, it’s surprising how few actually conduct their own internal surveys to take the pulse of their lawyers and staff.
For years, cost-conscious law firm benefits managers have focused their cost management efforts on their largest expenditures, medical coverage, and the expenditure that has been growing the fastest, prescription coverage. However, you should also focus on dental coverage, which is typically the third most utilized health care benefit.
You have a good idea of what it takes to advance within your law firm, but for most young lawyers, the path to partnership is one often taken without a roadmap.
• Exclusive Data Show Best Practices in Lateral Hiring
ASTD International Conference & Exposition, San Diego, June 1-4. Contact: ASTD, 703-683-8100; www.astd2008.org
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