only its present, but also its future. The key is to institutionalize the processes and put the effort in on the front end to make sure the processes are correct and that each step gathers data that can be used to analyze what the firm does correctly and what the firm does incorrectly.

If the recruiting and retention process concentrates on obtaining objective criteria at every level, the management committee should be able to aggregate and report on all of the information and determine whether there are underlying problems in the firms culture, compensation structure, or workload that indicate a wrong path.

Resources

An Insiders Guide To Interviewing: Insights from the Employers Perspective (National Association for Law Placement, 1666 Connecticut Avenue, NW, Suite 325, Washington, DC 20009; 1996).

Attorney Recruitment and Retention: A Showcase of Best Practices (National Association for Law Placement, 1666 Connecticut Avenue, NW, Suite 325, Washington, DC 20009; 1996).

Ida O. Abbot, Esq., The Lawyers Guide to Mentoring (National Association for Law Placement, 1666 Connecticut Avenue, NW, Suite 325, Washington, DC 20009; 2000).

Arnold B. Kanter, The Essential Book of Interviewing: Everything You Need to Know from Both Sides of the Table (Times Books/Random House, 1995).

H. Anthony Medley, Sweaty Palms: The Neglected Art of Being Interviewed (Ten Speed Press, 1978, revised 1984, 1992).

Notes

1. The scope of this chapter is limited to the recruitment and retention of professional employees, that is, individuals with the education and attendant licenses to deliver the core services of the firm, whether the practice of law, accountancy, investment banking, or others. Excluded from this chapter is the recruitment or retention of support staff and back-office functions. Those processes, equally, and in many cases more, important to the operations of a firm, are reserved for other chapters.

2. The names of these categories were chosen by the author, and certainly each category has numerous synonyms. None of the categories are intended as slights to any particular classification-in fact, each is wholly necessary to the successful functioning of a professional firm. And, contrary to the beliefs of many professionals, it is very difficult, if not impossible, for any one individual to perform adequately in more than two of these categories.

3. Terms used in this article that denote industry-specific terms, such as associate or partner, reflect the authors background as a lawyer but are not meant exclusively to reflect law firms, either big or small. The concepts can be equally

applied to accounting firms, investment banks, and other professional services firms. The reader is encouraged to substitute his or her own industry terms (such as principal, manager, managing director, or others) where appropriate.

4. These bonuses can be substantial. A bounty of $5,000 or $10,000 (and sometimes more) for recruiting a lateral hire is not uncommon.

5. One excellent resource is An Insiders Guide to Interviewing: Insights from the Employers Perspective (National Association for Law Placement, 1666 Connecticut Avenue, NW, Suite 325, Washington, DC 20009; 1996).

6. Attorney Recruitment and Retention: A Showcase of Best Practices (National Association for Law Placement, 1666 Connecticut Avenue, NW, Suite 325, Washington, DC 20009; 1996).

7. Nor is it a secret. In larger cities, the vast majority of new hires at professional services firms can tell you almost to the penny what each of their friends and associates is earning at a firm across town.

8. Not all lateral moves are related solely to an increase in compensation. In fact, numerous firms hire lateral employees from high-paying, but difficult, firms, for a lower salary. The lateral often makes the move for quality-of-life reasons or for the opportunity for advancement.

9. Ida O. Abbott, Esq., The Lawyers Guide to Mentoring (National Association for Law Placement, 1666 Connecticut Avenue, NW, Suite 325, Washington, DC 20009; 2000).

10. See note 9.

Section IV

Services Delivery: Taking Care of Business