Why Some Law Firms Are Conducting 'Stay Interviews' With Associates: The Morning Minute
The news and analysis you need to start your day.
August 14, 2023 at 06:00 AM
4 minute read
Law Firm Associates
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WHAT WE'RE WATCHING
SO WHAT'CHA WANT - Particularly during times of decreased client demand, Big Law isn't exactly known for caring all that much about associates' wants and needs. After all, many law firm leaders have spent the bulk of this year looking for ways to reassert their leverage over young talent. But, as Law.com's Dan Roe reports, for those firms that actually want to keep their high-performing associates once the lateral market picks up again, "stay interviews" are helping talent managers understand the evolving needs of their post-pandemic workforce—including second- and third-year associates who began their legal careers during remote work. In the process, those firms, which include Cozen O'Connor and Lathrop GPM, have learned that young lawyers appreciate transparency and individualized training and feedback.
DUAL-COAST DEFERRALS - Speaking of young lawyers, firms on both ends of the country appear to be increasingly putting the brakes on adding new ones for the time being. A couple of months ago, only West Coast law firms had deferred their summer classes. Now, as Law.com's Patrick Smith reports, large law firms rooted in the East Coast and Midwest, such as Cadwalader, Wickersham & Taft, Katten Muchin Rosenman and Dechert have reportedly joined the fray. And the movement may continue spreading east, some legal industry observers say, as overcapacity, particularly in the associate ranks, continues to roil the Am Law 100. "That will bleed into the East Coast," Greg Hamman, director of business insights at legal data and consulting firm Decipher Global, said. "If firms can operate at 80% of capacity and still do the work, they will. It is only a matter of time before East Coast firms follow suit. And their profitability numbers will be through the roof."
ON THE RADAR - Honeywell Inc. and other defendants were hit with a lawsuit Aug. 1 in California Superior Court for Sonoma County alleging negligent recall in connection with fire sprinkler flow switches. The case, brought by Knez Law Group, asserts that the devices activate prematurely, causing major economic losses for plaintiff Thorpe Design, which contends that it was obliged to field complaints and demands from contractors and customers in connection with installation contracts for over 18,000 homes. Counsel have not yet appeared for the defendants. The case is SCV-273845, Thorpe Design, Inc. v. Honeywell Inc. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.
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Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
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Who Got The Work
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Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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