P2P

41 I L T A N E T . O R G T he past couple years have brought a unique mix of dynamics, with life slowing down in many ways alongside continued and often uneasy change. Many work environments remain in flux, welcoming employees back to the office while offering accommodation for those looking for a hybrid or permanent remote option. Working from home gave people time to rethink the balance – or sometimes lack thereof – between their professional and personal lives and consider their passions and career aspirations. As we move forward, new employment trends are emerging in the legal market. Some lawyers are making lateral moves to other firms, while others are leaving big firms in favor of corporate or boutique jobs and even nonprofit and government roles among those who have decided to pursue new career paths. Others have opted for early retirements. In addition, merger and acquisition activity overall was down in 2020 and early 2021, but the return to in-person meetings and a more generally optimistic business climate prompted more activity over the past year. That trend is expected to continue for the foreseeable future, including among law firms. The uptick in moves among associates and partners alike, for all the reasons noted, has resulted in salary hikes in some markets and a renewed focus on hiring practices and benefits offered as firms work to attract and retain the best and brightest. In addition to being able to compete from a recruiting and hiring standpoint, their infrastructures must be able to effectively support lateral moves. Onboarding and off boarding lawyers typically involve much more than what is required when other employees leave one firm for another. Not only do many take (or bring) their own support staff, attorneys also bring their clients, which means their clients' records must be transferred with them. File transfers must be conducted in a way that ensures compliance with both internal information governance policies and the clients' outside counsel guidelines – all while prioritizing client service. Smooth transitions, free of any unnecessary delays or errors, help to maintain or exceed expectations during the crucial first impression stages of working with new attorneys and the clients they bring. Beyond making a good initial impression, the practical effect of quick file transfers is that new attorneys can start doing billable work sooner, increasing overall firm revenue. Of course, those transfers go both ways. When new attorneys join the firm and bring clients with them, firms must be able to accept their client files quickly and efficiently, while obtaining required approvals. And when partners leave the firm, they must be able to quickly assemble and review the transfer of client matter information. "Onboarding and off boarding lawyers typically involve much more than what is required when other employees leave one firm for another."

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