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Surviving the Crisis: Tips for Firms, Lawyers and Students
Those on the inside and external observers universally agree law firms are in crisis. The employment picture is bleak, and the toll will be heavy for many individuals and law firms, industry experts say. When it comes to attorney layoffs, numbers are staggering. Law firms have laid off more than 11,500 people since January 2008, according to the Layoff Tracker, an unofficial tally created by online legal tabloid LawShucks.com. A third of those layoffs have affected lawyers; the rest are said to be staff members, the blog said. Industry experts say the next to be hit are firm partners, especially non-equity partners. Keys to survival Experts agree there are opportunities out there. By thinking like entrepreneurs, lawyers can make themselves relevant by applying their skills to other practice areas, expanding their resume by trying contract work or finding innovative ways to market themselves to potential employers. “You must make it known that you’re available to work and you’re available to work longer hours. Being a prima donna in this marketplace is not the right attitude,” Poll said. Another key to survival is to stay busy, Poll and Forrest said. Because some firms may not have enough hours to go around, it is essential to open yourself up to working in other business areas or seek out work from firm partners. So transactional work is dead; bankruptcy is booming. Nothing should be below you, even if the task is typically assigned to a first-year associate. “In every company there are two kinds of people: Those who step up to the plate and those who stand by and say, ‘That’s not my job,’” said Martin Yate, the New York Times best-selling author of the “Knock ‘Em Dead” career management books. “If you look at it objectively, you know where you stand.” Expanding your reach as a contract attorney is also a way to keep your resume moving forward. The work varies widely as do the kind of clients you will serve. Both veteran barristers as well as beginning associates are needed for doing research, document and discovery review and more intensive litigation. Protect yourself by standing out Another way to protect yourself is to show your worth to the firm or employer. Marketing yourself as indispensible and enthusiastic could stave off that dreaded tap on the shoulder. There are the large gestures – like working longer hours – but there are lots of little ways to stand out. Poll says young attorneys are dressing up more – they are wearing a suit and tie instead of casual dress to show their willingness to fit into the firm’s culture. Associates also would be well advised to develop deeper client relationships now more than ever. “You need to understand your client, their business and their industry. You’ve got to become their trusted advisor – it’s about having a candid and trusting relationship,” Poll said. Advice for students Law school students have suffered as well, losing second-year summer internships, receiving long hiring deferments or no jobs at all. Your best bet if you are still in school is to focus on grades and boosting your resume through activities like working for the law journal. Another way to ride the storm is to to consider alternatives such as clerkships to stay in the game and gain experience. Timing is everything, Forrest said, so waiting a year or two to get into the job market could be all the difference.
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