Law 360 asks Huse about the 5 Predictions For BigLaw In 2016

Jill Huse talks with Law 360 about the "5 Predictions For BigLaw In 2016." Excerpts from the article are below. To read the entire article, click here.

5 Predictions for BigLaw in 2016 By Carmen Germaine Law360, New York  -- January 15, 2016 -- The rarefied air occupied by BigLaw firms will see continued turbulence in 2016, as firms facing a competitive market seek out ways to keep their turf at the top of the heap.

Leading law firms will need to be aggressive in seeking out profit, whether by focusing on poaching talent from other firms or hunting for big bet-the-company cases, experts say. And every firm will grapple with an increasingly interconnected world that can mean fewer, but bigger, opportunities.

Here, Law360 takes a look at what 2016 has in store for BigLaw.

More Lateral Moves While large firms turn away from big mergers, expect the market for lateral hires to heat up instead, experts say. BigLaw firms looking to gain new clients will have little difficulty poaching partners who are increasingly willing to make a move to greener pastures.

Jill Huse, co-founder of consulting firm Society54, said that she expects lateral recruiting to continue to accelerate but that firms will need to focus on integrating those new hires.

“I think lateral recruiting is becoming the No. 1 strategy for all law firms,” Huse said. “What’s going to be important this year and next year is lateral integration. They’re still not doing a great job.”

Helping the trend, experts say, is a new willingness from partners to jump ship for better opportunities instead of spending their career at one firm.

“For the regional and smaller firms, they recognize that law firm recruiting for first-year associates is not an ideal strategy,” Huse said. “An attorney right out of law school isn’t profitable for the first three or four years. You can bring in a lateral that has a book of business.”

Bigger Cases for Fewer Players Huse said she has seen a rise in both major litigation and smaller cases, at the expense of firms looking to profit off a middle ground.

"I find it interesting that more and more litigation is being taken out of the middle,” Huse said. “More litigation is going to either boutiques or BigLaw.”

Contributing to the growing spread, Huse said, is that some companies are eager to use BigLaw firms for big cases to capitalize on name recognition, while some in-house counsel are increasingly turning to boutique firms for smaller matters.

Larger Roles for Younger Lawyers Time marches inexorably forward, and firms are starting to feel the crunch as baby-boomer senior partners near retirement age and millennial associates move in.

It’s a really interesting dynamic that’s happening right now,” Huse said. “You’ve got this younger generation that’s coming up and they’re getting to be equity status, and you’ve got this older guard that doesn’t want to let go.”

One of the most important challenges for firms in the next few years, Huse and Shunk both said, will be addressing succession planning to ensure clients and other firm business can be smoothly transferred from the old guard to the new.

“The younger generation is recognizing the need for succession planning," Huse said. "They’re making their voices heard."