Tag Archives: Zain Atassi

2024 Legal Industry Outlook: Strategic Transformations and Emerging Opportunities

The year 2024 marks a pivotal era for the legal industry, characterized by rapid technological advancements and significant shifts in legal practices. These developments are reshaping the landscape, and introducing new challenges and opportunities for legal professionals and firms.

“As we step into 2024, we’re witnessing a seismic shift in the legal sector, propelled by cutting-edge technologies and a redefinition of legal practice. This evolution is not just a trend but a fundamental transformation, dictating new paradigms in how legal services are delivered and managed,” remarks Lateral Link Director, Ashleigh Goldberg

  • The Influence of AI and GenAI in Legal Operations

Michael Heise, haistack.ai CTO: “In 2024, the greatest AI influence in the legal industry will continue to be Large Language Models (LLMs). In 2023, tools like ChatGPT showed their power in answering prompts quickly and in different voices and styles. Law firms will look to harness this power with LLMs secured for and designed specifically for their firm. Challenges still lie ahead, like ensuring documents that make up the LLM do not violate ethical wall barriers, but the technology is too transformative to be ignored.”

Analysis: Everlaw predicts significant applications of GenAI in legal practice, with AI technologies automating up to 50% of legal tasks in corporate transactions.

  • ESG and Climate Litigation

Zain Atassi, Principal, Lateral Link Chicago: “2024 will see a rise in ESG litigation, reflecting the growing importance of environmental and social governance in corporate strategies.”

Trend Overview: The PHA Group reports an anticipated surge in ESG-related litigation, driven by increased corporate responsibility and public awareness.

  • Evolving Billing Models and Litigation Funding

Lauren Smith, Principal, Lateral Link Partner Practice Group: “The trend towards alternative fee arrangements is likely to redefine how legal services are delivered as client demands focus more and more on value.” 

Market Insight: The Law Society Gazette highlights a shift towards alternative fee arrangements,  such as flat or fixed fees, with flat fees becoming increasingly popular. Nearly half of all external legal spend in 2023 utilized such models.  While alternative fee arrangements tend to emphasize value over volume, they are most applicable in situations when the work product is predictable.  Alternative billing arrangements do not suit all work, e.g., a litigation that could go in a variety of unpredictable directions.  

  • Cybersecurity Law

Romina Filippou, Senior Director, Lateral Link Northeast: “The rapid evolution of digital threats is making cybersecurity law a critical and growing practice area.”

Industry Perspective: The rise in digital threats and the evolving landscape of internet privacy and data protection laws underscore the growing importance of cybersecurity law.

  • Energy & Natural Resources Law

Susan Agopian, Principal, Lateral Link California: “As the world shifts towards renewable energy, the legal aspects of these resources are becoming more pertinent.”

Sector Analysis: The legal complexities surrounding renewable energy sources, including regulation and innovation, are driving demand for specialized legal expertise.

The legal industry in 2024 is poised for exciting developments, driven by technological innovations and changing market dynamics. Lateral Link, with its team of seasoned recruiters and industry experts, is committed to guiding law firms and legal professionals through these changes, ensuring they remain at the forefront of the industry.

Connect with Lateral Link today to leverage our deep industry knowledge and expertise. Let us help you harness these trends for success in the dynamic legal landscape of 2024.

The Great (Law Firm) Resignation: Why You Shouldn’t Take a Counter-Offer (Part II)

This year, as the Great Resignation takes its toll on law firms, the volume of departures has been especially high. But for lawyers who haven’t been through it before, the process of resigning can be daunting. At Lateral Link, we routinely advise candidates on their resignation timing and process, so we think now is an opportune time to share that knowledge more broadly.

On Tuesday, in Part I of this two-part series, we discussed how to resign properly, while managing the emotions that the resignation decision may trigger. Today, our topic is counter-offers and the promises that accompany them. What should you do if your employer responds to your resignation announcement with a seemingly attractive offer to stay at your current firm?

The logic of counter-offers

Employee turnover is expensive. Searching for a replacement and training the new hire to succeed in the role are both costly. In the interim, the firm may have to turn away work due to being short-staffed (or in most cases, push it on their current associates, causing severe burn out). Change is also risky: whereas a new employee has no easily observable track record, the employer knows the capabilities of its current staff.

These factors are doubly significant in a robust lateral market like the one we’re in now. Replacing you will not be easy, and it will probably take a long time. With that context, it’s no surprise that your employer would seek to talk you out of resigning. Pushback often comes in the form of questions like, “Can’t we persuade you to stay?” or “Can you think this over for a few days?”

The emotional appeal of a request to stay

Assuming you don’t hate your current job, an appeal to change your mind might cause you to think twice. We tend to view loyalty as an honorable quality, and it’s always nice to know that you’re wanted. Even on this dimension, however, it’s important to recognize that the consequences of declaring your intention to leave will linger. Once you announce your resignation, trust between you and your employer is broken. If you stay, your employer and co-workers may focus less on the sacrifice you’ve made in declining the new opportunity and more on the “lack of loyalty” you showed in submitting your resignation.

It’s also important to balance feeling flattered by the gesture of a counter-offer against the reality that it was only prompted by your threat to leave. If you were seen as such a valuable member of the team, why didn’t your employer proactively offer you better terms to remove the incentive to look elsewhere? If your employer is willing to offer a compensation increase or a promotion only after you announce your resignation, then the firm has been knowingly underpaying and undervaluing you, which demonstrates a clear lack of appreciation for your contributions.

Trust yourself

If you’ve thought the process through, chances are you would’ve already addressed your grievances with your current employer and for whatever reason, your employer failed to deliver. The fact that you decided to resign is a clear indication that you aren’t fully happy in your current role. True, a counter-offer could bring an attractive pay increase. But the work conditions that prompted your job search in the first place — poor partnership prospects, long hours, toxic culture, insufficient access to interesting work, and so forth — are unlikely to permanently change if you stay. You are an intelligent adult. You made your decision for a reason. The wisest course is to trust yourself.

Consider your future prospects

When you accept a counter-offer, it buys time for your employer to find your replacement. Sure, it’s possible the firm will let bygones be bygones and allow you to resume your prior career trajectory. But, with your loyalty now in question, it’s probable that your employer will look out for candidates to replace you and may terminate you once a suitable replacement is found. Even if your employer is not in a rush to get rid of you, the aborted resignation and residual doubt it creates are likely to factor in future promotion or lay-off decisions.

Don’t set yourself up for regret

Most employees who display momentary weakness and withdraw their resignation in the face of a counter-offer realize quickly that they have made a mistake. Promises made to keep them often turn out to be empty ones — a firm’s culture doesn’t change overnight. Worse, when a candidate realizes she should have followed through on her decision to leave, she may find that the firm she intended to join has filled its vacancies and moved on. Don’t let that happen to you.

A new year oftentimes means a new job for many people. If you need help navigating this “unprecedented” (yes, I said it) lateral hiring market, please feel free to contact me or any of my Lateral Link colleagues. In the meantime, here’s wishing that 2022 brings you new happiness, new goals, and new achievements. Cheers to the New Year!

The Great (Law Firm) Resignation – How to Resign (Part I)

We’ve all heard a lot this year about “The Great Resignation.” As is the case in many industries, law firms are contending with an unusual volume of resignations. In our role as recruiters, we at Lateral Link have a front row seat into both the mechanics of the resignation process and also the emotional angst that it sometimes entails. From uncertainty over the decision to resign to a lack of knowledge of how to give notice in a professional manner to anxiety over how to respond to a counter-offer, lawyers who are considering leaving their jobs have a lot on their mind.

This week we’re taking a look at some of these issues, in two parts. Today we address how to prepare for and execute a smooth resignation, while managing the emotions accompanying this process. On Thursday, we will discuss counter-offers.

Managing doubts about the decision to leave

For some people, the decision to resign is an easy one, but others really struggle with it. Perhaps it’s fear of the unknown, fear of burning bridges or disappointing people, or self-doubt about one’s ability to succeed elsewhere. If you experience this anxiety, keep in mind that it’s normal, and it doesn’t mean you’re making a bad decision. At the end of the day, you have to trust your gut. You’ve weighed the pros and cons and made a thoughtful determination about what’s best for you and your career. Be confident and comfortable in this choice and know that you are doing the right thing, even if the process isn’t a fun one.

Resigning is like ripping off a band aid — the fear is generally worse than the act itself. Nine times out of ten, your manager is an experienced professional and will have been in this situation before, so it will only be awkward if you make it that way. If you commit to leaving in the most professional and ethical way possible, the knowledge that you’re going about the process in the right way should help to calm your nerves.

Timing your resignation

Start by getting your ducks in a row prior to resigning. Do your best to tie up loose ends and stay on top of your workload to avoid a scramble when your last day comes.

Try to arrange it so that immediately before resigning, you have time to do whatever it is that helps you de-stress: meditation, deep breaths, exercise, or yoga can set you in the right frame of mind. Give notice first thing in the morning when your mind is clear, stress level is lower, and your boss is more likely to be around. If you wait until the end of the day, you may find your boss is distracted or busy with other matters.

Give at least two-weeks’ notice. Not offering any notice at all is completely unprofessional. Even if you think your employer will want you to leave immediately, it is customary to at least offer to stay on for two weeks to help transition your matters. Once you resign, leave promptly after your notice period ends. Each of us is fungible, so there is no good reason to stick around for an extra week or two.

Who to tell?

You should resign to just one person, preferably your direct supervisor or department head — even if you don’t like that person. There’s no need to reach out to several members of management, and you shouldn’t tip off your resignation to other colleagues beforehand.

Resign in person (or if necessary, via video). Don’t resign by e-mail, voice mail, or letter (unless a written resignation is also required). You must put your big kid pants on and summon up the courage to resign face-to-face.

What to say?

Keep it simple: “Karen, I want to let you know that I will be leaving Adam & Brown to join Cox & Smith. This was a very difficult decision to make. I’ve had a good experience here but I believe this is the right decision for me at this point in my career. I hope we can stay in touch.” Leave it at that.

You should be prepared for any reaction. Your boss may be supportive and collegial, cool and dismissive, skeptical, angry, or disinterested. Questions may range from “where are you going?” to “why are you leaving?” to “why didn’t you tell me you were unhappy?” Whatever the reaction, don’t take it personally. Be mindful that your boss has other matters to tend to besides your career plans.

Whatever you do, resist the urge to “send a message” with a proverbial mic drop. You can’t control your employer’s reaction, but you can control how you comport yourself. Don’t be petty or childish — keep things mature, professional, and courteous. Realize that you are likely to cross paths with these people again in the future. Passive-aggressive (or in some cases, just plain aggressive) actions may give you short-term satisfaction, but there’s a good chance you will regret them later. There is no upside to criticizing colleagues or the experience you’ve had. Take the high road and be complimentary — even if you don’t mean it.

What to do after you have given notice

Just as you should approach the resignation conversation professionally, you should behave in a professional manner during your notice period. Don’t gossip with colleagues who stop by for the blow by blow. Tell them you’d be pleased to stay in touch after you leave. Wind down, transition your matters, and move on.

Be sure to follow your firm’s guidelines on resignation and departure. Don’t be cute about files, forms, hard drive contents or anything else — it’s not worth the risk.

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What if your firm tries to convince you to reconsider and makes you a counter-offer? How should you think through a potential decision to reverse course? We’ll talk about that in Part II of this series.

If you need help navigating this “unprecedented” (yes, I said it) lateral hiring market, please feel free to contact me or any of my Lateral Link colleagues.