Big Law Burnout Is Causing Law Firm Leadership Churn: The Morning Minute
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October 18, 2021 at 06:00 AM
5 minute read
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WHAT WE'RE WATCHING
LEADING, CAUSE OF BURNOUT - Big Law burnout—it's not just for associates anymore. As Law.com's Andrew Maloney and Patrick Smith report, law firm leader burnout is also at an all-time high, according to industry analysts, and it's likely to cause not only a wave of turnover at the top in the next year, but shorter reigns in general for the next generation of firm chairs. So what's driving this phenomenon? Brad Karp, who has led Paul Weiss for 14 years, said law firms have generally gotten larger and more complicated to manage. "We're dealing with increased client and partner mobility, which poses significant management challenges," he said in an email. "We're dealing with different partner structures; many firms have created multiple classes of partner (equity, nonequity, salaried) and the steady erosion of the lock step and pressures on the compensation model. Managing these issues takes time and requires walking the halls." It also, as several others noted, requires a support network. "Having peers to talk to, whether it's junior lawyer to junior lawyer, partner to partner—when you have sort of a team approach to management, that helps support management," said Gretchen Harders, a member at Epstein Becker & Green who advises companies on employee health benefits and equitable compensation. "That might be idealistic, but people need their peers to discuss things with and to step in at different times."
KEEP COMING BACK FOR MORE - Good news for folks who love swiping key cards: As Law.com's Justin Henry reports, aggregated Am Law 200 data suggests Big Law firms are increasingly pushing for more days per week in the office than not. In the initial planning phase of Am Law 200 firms' office returns, one to two days of in-office work per week was the most popular model, according to data on 89 firms gathered by legal tech company nQ Zebraworks. But when it comes to forward-looking plans in the same cohort of 89 firms, the preferences have flipped. Only 8% plan to be in the office one to two days per week post-transition, with a plurality, 26%, pushing for a three-day-per-week minimum of onsite work, and another 17% pushing for four to five days per week. While these figures may be disappointing to some attorneys, legal professionals and staff who were hoping the pandemic would result in a remote revolution, it should be noted that this isn't your granddad's office we're talking about here. This is the office of the future, featuring amenities you're not going to find anywhere else, like snacks and exercise equipment. Plus, sometimes you get to wear jeans. So, even-steven.
AWF-ULLY SIMILAR? - Ropes & Gray filed a trademark infringement lawsuit Friday in California Central District Court on behalf of Pogi Beauty in relation to its "Go Off" makeup remover products. The suit claims that UOMA Beauty Inc. has been selling makeup remover products with the confusingly similar mark "Go Awf." Counsel have not yet appeared for the defendant. The case is 2:21-cv-08217, Pogi Beauty LLC v. UOMA Beauty Inc. Stay up on the latest deals and litigation with the new Law.com Radar.
EDITOR'S PICKS
- A Former Judge Explains How to Avoid Getting Bench-Slapped By Zack Needles and Alaina Lancaster
WHILE YOU WERE SLEEPING
PREGNANCY LOSS POLICIES - Pregnancy loss policies are becoming more prevalent among large U.K. law firms and attorneys are welcoming the shift, Law.com International's Hannah Walker reports. Of the top 15 U.K. law firms, six currently have a specific policy in place relating to pregnancy loss and several others said they're considering similar measures. "As an employment lawyer, I've seen firsthand how pregnancy loss can result in the breakdown of relationship between employer and employee," said Kingsley Napley senior associate Moira Campbell, who helped spearhead her firm's move to introduce a specific policy relating to the issue. "These kind of policies can help retain those employees. It is key to have a clear outline of what steps are to be taken, both for the employees and management, set out in a document so there is less worry when you are in that time of crisis."
WHAT YOU SAID
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J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
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Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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