16 min.
The Top 3 Reasons Why Would-be Internal Successors Leave a Senior Attorney’s Law Firm to Accept a Job at Another Firm Senior Attorney Match Podcast
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- Karrierer
In Ep. 47, Senior Attorney Match’s Jeremy E. Poock, Esq. shares the following 3 reasons why would-be Internal Successors leave a Senior Attorney’s law firm to accept a job at another firm:
Reason #1: The false expectations by Senior Attorney law firm owners that their Key Employee Lawyers will want to someday become law firm owners. As Poock states, “What we find is that those Internal Successors may hit-up a Senior Attorney with what we call a “Random Tuesday.”
As Poock explains, a “Random Tuesday” occurs when a would-be Internal Successor walks down the hall on a “Random Tuesday” and rather than announce an intention to purchase a Senior Attorney’s practice, the Key Employee Lawyer(s) instead notifies their boss that they decided to take another job, together with offering 2 or perhaps 4 weeks notice after having practiced at a Senior Attorney-led firm for many years.
Reason #2: The need for job security by would-be Internal Successors. As Poock points out, “[W]hat is it that key employees want and need? They want and need job security. They want their job to be reliable, predictable, and safe.” When those Key Employee Lawyers consider their jobs as no longer reliable, predictable, and safe, they will begin looking for and then accept a job at another firm.
Reason #3: When the need for job security by Key Employee Lawyers clashes with false expectations by Senior Attorneys. As Poock states, “[T]his is what we're often seeing in the marketplace, that is, [a] Senior Attorney announces to would-be Internal Successors that ‘I've decided I'm going to retire within, let's say, the next 12 months.’ The would-be Internal Successors, at that point, they, for lack of a better phrase, they start freaking out because they think that this time he really means it.”
As Poock explains, would-be Internal Successors then often start looking for another job for the purpose of restoring the reliable, predictable, and safe job that they seek and need.
During the “Wrap-up” of Ep. 47, Poock points out that when Senior Attorneys realize that their would-be Internal Successors want a reliable, predictable, and safe job, as compared to owning a small business law firm, they can together pursue joining a Growing Law Firm to succeed to the Senior Attorney’s practice.
As Poock states, joining Growing Law Firms results in the following 4 wins:
Win #1: Senior Attorneys join a Growing Law Firm, which fulfills a Senior Attorney’s goal of retiring and monetizing the practice.
Win #2: By joining a Growing Law Firm with their former Senior Attorney boss, Key Employee Lawyers get what they want and need, namely, a new job with salary, with benefits, i.e., reliable, safe, and predictable continuity of employment.
Win #3: Continuity for clients because when Senior Attorneys and their former Key Employee Lawyers join a Growing Law Firm, the firm’s clients benefit from the continuity of competent legal representation that a Growing Law Firm provides.
Win #4: The fourth win goes to the Growing Law Firm. As Poock asks: “What do Growing Law Firms want and need? They want and need clients, and they want and need talented lawyers to do the work.” Senior Attorneys, together with their Key Employee Lawyers, deliver both.
In Ep. 47, Senior Attorney Match’s Jeremy E. Poock, Esq. shares the following 3 reasons why would-be Internal Successors leave a Senior Attorney’s law firm to accept a job at another firm:
Reason #1: The false expectations by Senior Attorney law firm owners that their Key Employee Lawyers will want to someday become law firm owners. As Poock states, “What we find is that those Internal Successors may hit-up a Senior Attorney with what we call a “Random Tuesday.”
As Poock explains, a “Random Tuesday” occurs when a would-be Internal Successor walks down the hall on a “Random Tuesday” and rather than announce an intention to purchase a Senior Attorney’s practice, the Key Employee Lawyer(s) instead notifies their boss that they decided to take another job, together with offering 2 or perhaps 4 weeks notice after having practiced at a Senior Attorney-led firm for many years.
Reason #2: The need for job security by would-be Internal Successors. As Poock points out, “[W]hat is it that key employees want and need? They want and need job security. They want their job to be reliable, predictable, and safe.” When those Key Employee Lawyers consider their jobs as no longer reliable, predictable, and safe, they will begin looking for and then accept a job at another firm.
Reason #3: When the need for job security by Key Employee Lawyers clashes with false expectations by Senior Attorneys. As Poock states, “[T]his is what we're often seeing in the marketplace, that is, [a] Senior Attorney announces to would-be Internal Successors that ‘I've decided I'm going to retire within, let's say, the next 12 months.’ The would-be Internal Successors, at that point, they, for lack of a better phrase, they start freaking out because they think that this time he really means it.”
As Poock explains, would-be Internal Successors then often start looking for another job for the purpose of restoring the reliable, predictable, and safe job that they seek and need.
During the “Wrap-up” of Ep. 47, Poock points out that when Senior Attorneys realize that their would-be Internal Successors want a reliable, predictable, and safe job, as compared to owning a small business law firm, they can together pursue joining a Growing Law Firm to succeed to the Senior Attorney’s practice.
As Poock states, joining Growing Law Firms results in the following 4 wins:
Win #1: Senior Attorneys join a Growing Law Firm, which fulfills a Senior Attorney’s goal of retiring and monetizing the practice.
Win #2: By joining a Growing Law Firm with their former Senior Attorney boss, Key Employee Lawyers get what they want and need, namely, a new job with salary, with benefits, i.e., reliable, safe, and predictable continuity of employment.
Win #3: Continuity for clients because when Senior Attorneys and their former Key Employee Lawyers join a Growing Law Firm, the firm’s clients benefit from the continuity of competent legal representation that a Growing Law Firm provides.
Win #4: The fourth win goes to the Growing Law Firm. As Poock asks: “What do Growing Law Firms want and need? They want and need clients, and they want and need talented lawyers to do the work.” Senior Attorneys, together with their Key Employee Lawyers, deliver both.
16 min.