The State of In-House Legal Departments

Transcription

1 The State of In-House Legal Departments What attorneys can do to advance their careers Jas Basra, Esq. Vice President of Projects for Robert Half Legal Lawrence Klein, Esq. Branch Manager for Robert Half Legal

2 Important Trends Facing In-House Attorneys The in-house hiring environment The tightening talent market In-demand skills and expertise Hottest practice areas Average starting salaries 2 2

3 The 2018 Landscape Steady hiring, increased turnover In-demand practice areas: Litigation, general business/ commercial law, real estate, compliance, healthcare Higher attorney salaries, higher expectations Rising demand for tech-savvy staff Expanding legal departments 3 3

4 State of In-House & General Counsel EXPANDING LEGAL DEPARTMENTS Corporate legal departments are adding to their teams to take on more work in-house. They are seeking candidates with experience in a wide range of legal matters related to business growth, executive compensation, and labor employment disputes. In particular, contract administrators and corporate transactional paralegals are highly sought. 4

5 The Great Challenge 67% of lawyers surveyed by Robert Half Legal said it is challenging for their law firm or company to find skilled legal professionals today. 5 5 Source: Robert Half Legal survey of 200 lawyers among the largest law f irms and companies in the United States

6 Where the Legal Jobs Are Practice areas that are expected to generate the greatest number of legal jobs in the next two years: * 6 6 *Only the top responses are shown. Source: Robert Half Legal survey of 200 lawyers with the largest law f irms and companies in the United States

7 Top Practice Areas For In-House Lawyers Litigation Areas expected to generate jobs include medical malpractice, intellectual property, insurance defense and personal injury. Business/commercial law Expertise is needed in M&A, new product development, compliance, transactional law and administration law. Real estate Expanding commercial and residential markets drive demand for legal professionals, from zoning to lease administration. 77

8 Top Practice Areas Compliance Staying on top of ever-changing regulatory requirements is a top priority for companies. Legal professionals who can help companies comply are seeing increased job prospects. Healthcare Providers, government agencies and law firms are seeking expertise in federal healthcare policy, healthcare implementation, research, insurance fraud and more. 8 8

9 The Hiring Environment HOT POSITIONS Commercial litigation paralegal Compliance manager Contract administrator Corporate transactional attorney Insurance defense paralegal Intellectual property attorney Legal assistant Litigation legal secretary Litigation support/ediscovery manager Real estate attorney 9

10 Be a Part of an Engaged, Productive Legal Team Out of 13 fields surveyed in a study on workplace happiness, legal professionals ranked: 5 th in on-the-job happiness 4 th in level of interest in their work 13 th in on-the-job stress levels Source: Robert Half and Happiness Works

11 Career Management: Attorneys in Transition Steering through a career crossroads After years of hard work, you may find yourself at a professional plateau This situation isn t unusual. There are guidelines for steering through a career crossroads 11 11

12 Career Management: Attorneys in Transition Identify your goals Establish goals that are meaningful to you Create a strategy for accomplishing them Implement daily practices that will enhance your value to your current and future employer Periodically review long-term goals and strategy Review your accomplishments Revisit projects and cases that gave you a strong sense of satisfaction Identify which factors contributed to your personal sense of achievement Think about your preferred working style 12 12

13 Career Management: Attorneys in Transition What is your dream job? What skills do you need to be considered for the role? Consider alternative careers Conduct a periodic evaluation of your skills Develop your skills and make changes that will put you back on course 13 13

14 Career Management: Attorneys in Transition What are your strengths and what is missing? Making intelligent decisions requires an understanding of your attitudes, objectives and long-term goals What attracted you to your current work? (growth potential, job security, compensation?) Review areas that require improvement Project management abilities Interpersonal or communication skills Other areas such as technical experience or business acumen 14 14

15 Career Management: Attorneys in Transition Ask: What makes a good attorney great? Legal expertise and knowledge Business-oriented consulting Communication skills Initiative and leadership Adaptability and resiliency Judgment Management skills Problem-solving skills Organization, time management, and presentation skills Technology skills Conflict resolution and negotiation skills 15 15

16 Career Management: Attorneys in Transition Network, network, network! Local Bar Associations and Committees Ripple effect Professional recruiters, references, Internet Be visible in your current role Make sure your VP or GC is aware of your accomplishments Contribute during meetings, arrive to work early, stretch your abilities Take initiative Maintain a positive attitude 16 16

17 Robert Half Legal 2018 Salary Guide Features of the Salary Guide: More in-depth analysis of national starting salaries Trends in the legal field Practice areas and positions in demand Tips for building an engaged, productive legal team Information for calculating salaries for your local market Data on other forms of compensation 17 17

18 Robert Half Legal 2018 Salary Guide Data sources: Our expert recruiting professionals Thousands of placements made by our offices nationwide Exclusive workplace research Analysis of hiring trends 18 18

19 How to Use Our Salary Tables PERCENTILE 25 TH 50 TH (MIDPOINT) 75 TH 95 TH Candidate Experience Level Less experience than typical Average experience More experience than typical Significant, highly relevant experience Candidate Skills/ Expertise Skills require development Necessary skills to meet job requirements Strong skill set; may include specialized certifications High level of expertise, including specialized certifications Job Complexity/ Duties Role may be in an industry with low competition for talent or in a smaller, less complex organization or department Role may be of average complexity or in an industry where competition for talent is moderate Role may be fairly complex or in a fairly competitive industry for talent Role may be highly complex and more strategic in nature than usual; may be in a highly competitive industry for talent 19

20 New in 2018: Percentiles 20

21 Points About the Salary Figures Salaries listed reflect national starting pay only Continuing salaries are not reported Percentiles do not take into account additional circumstances (e.g., seniority, practice area expertise) Bonuses, incentives and other forms of compensation are not reflected Other factors to consider when determining starting salaries: $ Employee benefits Candidate s skill set Current market conditions 21 21

22 Calculating Salaries for U.S. Markets Salary appropriate for candidate s experience Local variance index number (as a percentage) Local salary range $ Example: Starting salary for a first-year associate with experience that warrants being in the 50th percentile, based in Denver (variance for Denver is +9%): $68,000 x.09 = $6,120 $68,000 + $6,120 = $74,

23 Other Forms of Compensation Benefits Non-cash compensation not tied to performance Examples: medical insurance, retirement plans Incentives Cash to reward or incent superior performance; tied to job performance Examples: bonuses, spot awards Perks Privileges granted to all employees, aside from benefits and incentives Examples: free meals, gym membership 23

24 Bonus Guidelines How companies determine bonuses* 27% Individual and company performance 22% Individual, team and company performance 16% Individual performance only 8% 9% Company performance only Other 19% Don t offer bonuses Robert Half survey of more than 740 human resources, compensation and benefits professionals in North America *Responses do not total 100 percent due to rounding. 24

25 Most Common Benefits* 95% 89% 88% 81% 79% 78% 65% 56% Medical insurance Dental insurance Life insurance Vision insurance AD&D (accidental death and dismemberment) Disability insurance Employee assistance program (EAP) Reimbursement for tuition/ professional certifications 25 Robert Half survey of more than 740 human resources, compensation and benefits professionals in North America *Only the top responses are shown.

26 Most Common Incentives 37% spot awards for individual or team achievement 20% profit-sharing The most common incentives offered 18% retention bonuses 18% stock options, restricted stock or performance shares 16% deferred compensation 26 Robert Half survey of more than 740 human resources, compensation and benefits professionals in North America

27 Other Positions Additional positions covered in the Robert Half Legal 2018 Salary Guide include: General counsel Paralegal/legal assistant (hybrid) Lease manager Patent agent Records manager Document coder And more