Zhiheng's Perspective | Law Firms' Core Strengths in Attracting and Retaining Talent- Zhiheng Law Firm

Introduction

ZHIHENG

The legal profession has flourished with the release of market economic dividends, but it has gradually ushered in a critical period of development. In the past, more than 90% of law firms were still small firms, which were referred to in the industry as firms with less than 10 people, or even individual firms. However, due to the adjustment of economic trends, the doubling of the number of lawyers, and the emergence of artificial intelligence, law firms are facing pressure to adjust and integrate.

Law firms have basically formed a large-scale, brand-based law firm, supplemented by other law firms, such a distinct pattern.

Twenty years ago, large law firms led by the Beijing region began to export brands and set up camps in various places. Over the past 10 years, local firms have followed suit, expanding across the country and even besieging Beijing, Shanghai and Guangzhou. The above expansion and integration have formed what the industry calls red circles, brand firms, and large-scale firms. Economically speaking, scale produces scale effects, but at the same time, large scale is prone to conflicts of interest, rising management costs, and internal friction.

Therefore, in the era of great change, we have seen the rise of new forces, the infighting of old brands, the grabbing of power by general offices, and the punishment of red circles. Law firms are entering the worst era and the best era. Outsiders can't see it, young lawyers see it but don't see it, old lawyers see it and understand it but don't want to say it.

Some people ask, how should I choose a law firm?

In this regard, Song Cheng, a senior partner of equity at Zhiheng (Qianhai) Law Firm, will share the choice of different roles for law firms and analyze the core advantages of law firms in attracting and retaining talents.

Lawyer opinion sharing

ZHIHENG

How do newcomers to the workplace choose a law firm?

The first law firm to join has a profound impact on the growth of newcomers in the workplace. It plays an important role in all aspects, from learning from the world, to the accumulation of case handling experience, to the accumulation of customer resources, and even the creation of personal IP. The company's corporate operation, with a stable salary system, standardized training system, and brand blessing, can accelerate the process of professionalization, but it also soon enters a bottleneck period.

Law firms outside the red circle are usually partnerships. In this case, choosing a law firm is actually choosing a master and a partner boss, and the master or boss actually bears all the personal growth of the newcomer.When selecting a law firm, newcomers should focus on those that can provide a good environment and conditions for their professional skills and knowledge to grow.

Be careful to choose a personal firm or a mom-and-pop store because of its limitations in terms of scale, case diversity, and management thinking.

How do independent lawyers choose a law firm?

I wish you all the best, but for a variety of reasons, especially deep-rooted idealism and liberalism, lawyers are eager to let go of themselves and need to consider changing offices. For independent lawyers to join a new firm, there are naturally various preferential conditions for the new firm, including those for the business, those for the title of partner, those for the office discount, and even those for you to be the director. How to choose? Putting aside the appearance and looking at the essence, new independent lawyers should consider whether there is a stable consulting unit, how to carry out incremental business in the new firm, whether the new firm is cost-effective, and whether the new firm provides long-term development opportunities.

I believe that stability first and then development is the key. The above suggestions are sequential. It is not recommended to consider where the platform is large or even cheap first. Without business, platform advantages and cost advantages will not work at all.

How do partners choose a law firm?

Lawyers who can serve as partners are often hung up by life for many years, have seen the world, have some accumulation, and have some means. Therefore, it is often seen that partner lawyers can switch between large firms or even red circle firms. This is also the difficult part of the law firm, everyone is a loach, and the relationship is intertwined. Partner lawyers have their own stable business and their own business team. They choose to join a new firm, usually because there is a blessing here, so they can do more business.

Partner lawyers usually have a lot of accumulation in certain professional fields, so they are eager to form cooperation within the law firm to expand their business advantages. Joining the scale of the general branch model allows them to enlarge their professional service capabilities, cooperate with colleagues in off-site offices, and attract client resources. At the same time, the colleagues of the new firm are strong in certain professional fields, such as foreign affairs, funds, listing, and criminal law. This way, partners can use the professional advantages of the colleagues of the new firm to serve their clients well and prevent the loss of client resources.

Why does a law firm director still want to join a law firm?

Whether it was the director of a law firm or the person in charge of a large team, they were also facing an awkward situation now. Once upon a time, they had gone through all the above and set up their own firm, taking the helm and making decisions by themselves. However, it was not easy to recruit talent, the business type was single, and the client resources were lost, so it was a good way to join a new firm and borrow a boat to go to sea.

Although this is not a way back, they do face a lot of troubles, some are face problems, some law firms are their own properties, some are afraid of tax clearance, and some even think about how to advance and retreat. The world is safe and sound, and it lives up to the Tathagata and the Qing Dynasty. Joining a brand firm can better serve customers, launch new business sectors, provide more growth space for team members, and release management pressure. What may be lost is their sense of control, and other problems can be solved.

When selecting a brand office, attention should be paid to whether to invest directly or join, its brand growth, whether its management model is suitable, and of course, it is also necessary to pay attention to the issue of management costs.

Law firms' core strengths in attracting and retaining talent

How to attract and retain talent is a problem that every enterprise needs to consider. Whether it is a big brand or an emerging force, it should have the mindset of an entrepreneur. I think it should be "tolerant is big", which includes four aspects of meaning.

The first is"Capacity for Talents"Brands should pay attention to the pain points of talents at all levels mentioned above, and should have effective solutions to assist

The second is"Rong Vision"A brand should have a clear vision of its own. Vision is not illusory, "there is a Toyota car in the road" has created Toyota's strategy of multiple brands and pricing, as well as the quality of moderation, easy to drive and durability. Vision can bring lawyers together and attract lawyers with the same taste.

The third is"Rong Culture"From professional salons, to cultural and sports activities, to social welfare, the brand should be a big stage to provide aspiring young people with opportunities to show, find value and find recognition

The fourth is"Rong Times"This may be my unique opinion that brands should achieve informatization and intelligentization. At present, the Public Security Law has already realized informatization office, but law firms have not realized informatization because of their name. But the arrival of the era of artificial intelligence has provided opportunities for brands to promote informatization and intelligence construction, which is also a trend that small and medium-sized firms cannot follow and cannot realize.

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Lawyer · Introduction

Lawyer Song Cheng

Guangdong Zhiheng (Qianhai) Law Firm

Equity Senior Partner

Personal profile:Lawyer Song Cheng has been practicing for more than ten years and has rich experience in the fields of company equity, mergers and acquisitions, financial asset management, dispute resolution, etc. He has served as an arbitrator of Dongguan Arbitration Commission and other social positions. Integrating industry knowledge and commercial thinking into legal services, the clients served in the industry involve Private Offering Fund, Medical Investment Group, Drug R & D institutions, Furniture production enterprises, etc.

In journals, WeChat official account and other platforms published "Private Equity Fund Investment in Private Hospitals Special Focus" "Contract Private Offering Fund Bank Account in principle should not be enforced" "Medical Anti-Corruption Lawyer Observation" "Research on Judicial and legal precedent involving the validity of hospital custody contracts" and other articles.

Professional direction:Private Offering Funds, Healthcare, Family Trusts, Commercial Arbitration

Classic case:

· Private Offering Fund Equity Repurchase Disputes

· Fund investors entrust financial management contract disputes

· Overseas investment projects for pharmaceutical companies

· Subsidiaries of listed companies Drug technology transfer projects Domestic company technology export projects

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The talent introduction plan of Zhiheng Qianhai Law Firm was grandly launched

Zhiheng · Introduction