Among the gains could be boosting market share, gaining access to new markets, acquiring brandname human talent - and having a legal justification to purge the workforce.
It's the latter which should concern lawyers and staff in the legal sector.
As Law.com reports, there has been a record number of mergers in the legal sector during the first nine months of 2018. The usual number over the past 10 years is 42. Fairfax Associates counts 56. Many of them are taking place in MidSizeLaw and SmallLaw. They involve both domestic and cross-border business.
Just as in BigLaw, there is tremendous competition for new business in MidSizeLaw and SmallLaw. No longer do organizations and individuals "marry" one law firm. Churn has replaced that pattern of loyalty.
The human tragedy with getting pushed out in a merger is that it will be difficult to land a comparable job. That is especially the situation for lawyers and staff over-50.
In Connecticut, a law firm announced one morning that it had merged. It informed a lawyer in her late 50s that she was not being invited into the new organization. The only other work opportunity she had been able to find related to law has been managing the office operations of a law firm, part-time. She also wound up taking early Social Security. Had she considered a career change she might have fared better. Here, free to download, is my book on how to exit a comfort zone.
Attention is the currency of the 21st century. Jane Genova helps you get it for products, services, points of view, causes, branding, careers after-50, and college admission.
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