We’ve Always Done It That Way – The Most Expensive Words in Business
Former IBM executive Catherine DeVrye observed that “we’ve always done it that way” are the six most expensive words in business. Drawing on her experience in the computer industry in the fast-paced 1980s, she noted that companies and organizations that fail to innovate are all but doomed to stagnate.
The world is constantly changing and top firms need to change with it. Only 52 companies have been on the Forbes 500 list since 1955. Even more surprising, nearly half of the companies that were on the initial list are now out of business entirely. Innovation is not only important for the world’s largest business—stagnation can be an existential crisis for top tier law firms .
Successful Executives Look for New Solutions
There is nothing wrong with consistent and effective business practices. If something is working very well, there is certainly no need to make a change. At the same time, the top executives are always looking for new solutions that will improve efficiency and better solve problems. In many cases, companies stagnate because they fail to recognize that their systems and processes actually are not working all that well. Or worse—they know there is a problem, but they fail to take action to fix it.
Traditional Attorney Recruiting Methods Can Lead to Stagnation
There is perhaps no better example of stagnation than lateral attorney recruiting. Unlike most other industries, attorney recruiting has seen relatively little innovation in the past two decades. Many talent acquisition teams and human resources departments are not satisfied with the results that they are getting. They are stuck dealing with the same problems over and over again, finding highly qualified candidates from diverse backgrounds when the firm needs them.
Top-tier law firm selection processes are not broken. In fact, they are some of the most robust and successful of any industry. Yet the problem comes at the sourcing stage, the element on which they rely on third parties. Relying on these third parties to populate the top of their hiring funnel has led to complacency, lack of choice, and constantly missed diversity targets. To be sure, mediocre input leads to a substandard end result. It is a textbook example of a case where “we’ve always done it that way” fails to deliver the best results for many leading law firms.
But, consider the opposite; high-quality legal hiring can lead to excellence. Indeed, there is a better solution available.
Up Or Out Brings True Innovation to Legal Hiring
Up Or Out is a direct introduction platform that is bringing innovation to attorney hiring. For too long, third parties have controlled the process. We introduce top tier law firms and leading corporations to elite attorneys. Your firm can get confidential access to the best candidates while retaining control over the hiring process. To find out more about our platform, please do not hesitate to contact us today.
