Amid a debate about the true commitment of top law firms to correcting performance issues among younger members of their teams, CEO Bryan Parker of Legal Innovators suggests timing couldn’t be better for an enlightened approach. The Legal Innovators, a diversity-oriented talent startup launched four years ago, is focusing on bolstering the performance of Big Law associates through expanded coaching services.
The service is already widely popular among numerous Am Law 200 firms, with the coaching services being pegged as a game-changer for early career attorneys striving for better performance levels. The potency of this coaching service, however, is dampened in the face of recent layoffs and staff reductions in various leading firms such as Katten and Armstrong Teasdale.
Nevertheless, Parker holds that bringing existing personnel up to speed is more economically viable in the long run. He suggests that extending the tenure of multiple associates in any given firm can rake in millions of dollars in revenue, given that there’s work available. Parker also underscores the societal fallout of not supporting employees, a sentiment captured in the term “to be Lathamed“.
Another critical focus for law firms is combating the glaring lack of diversity in leadership and partner roles. Approximately 70% of diverse attorneys who leave Big Law do so because of lack of professional skills, contends Parker. Furthermore, recent decisions by the U.S. Supreme Court concerning affirmative action have only underscored the need for firms to be more proactive in recruiting and retaining diverse talent.
To add to the waves being made by Parker’s innovative approach to talent development, Philadelphia’s esteemed law firm Schnader Harrison Segal & Lewis is shutting down after 90 years of operation, reflecting the intense pressures being faced by midsize firms in the local market. Meanwhile, more hindrances arise for those advocating for regulatory changes that could enable non-lawyer ownership of law firms.
Despite these challenges, the legal industry continues to evolve. The need for dynamic talent development strategies like those offered by Legal Innovators only grows more pertinent.