20 factors every lawyer should consider before taking the in-house plunge
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Transcript of 20 factors every lawyer should consider before taking the in-house plunge
20 factors every lawyer should consider before taking the in-house plunge
Despite the popularity and appeal of moving in-house, it is vital to properly consider how such a move
can impact on both your short and long-term career.
Without wanting to be too simplistic about this, here are 20 factors you should consider before taking the leap!
Apart from the company, what’s the background and experience of the board and
senior executive team?
1 Background
2 ReportingWho is the GC or Head of Legal?
What does their background and experience say about them?
What kind of training might you expect? What law firm did they train in and what can they offer you in terms of your learning and development?
3 Training
What is the structure of the legal team?
What could this mean for you in terms of the work you will do?
4 Structure
How is the legal team regarded both within the company and externally?
5 Reputation
What law firms do they brief? 6 External Firms
What percentage of the legal work is briefed out?
‘What’ work is kept in-house?
7 Work Mix
What kind of work mix will this role have? How closely is it aligned to your experience?
8 Suitability
What does the employer and corporate brand tell you about the company?
9 Company
What does the job title and position description tell you about how the legal function is regarded internally?
10 Positioning
Look at annual report and company prospectus
Image source: http://www.freepik.com/
Assuming that you did take the role what would your CV look like after 2 years?
5 years etc?
11 Help or hinder?
What future path does this set you up for?
What doors would open for you?
12 Your career opportunities
In answering those questions how closely then does this opportunity align with where you see your career heading?
13 Thoughts
Not that this would be a deal breaker (surely!) but does the legal team record time?
Does it work on a cost centre or profit centre model?
14 Time recording
Consider the industry it operates in. What trends, economic climate and challenges has it faced over the last 5 years?
What does the future look like?
e
conomic indicator 15 Economic Indicator
What impact +/- is working in this industry likely to have on your experience?
16 Impact
What does LinkedIn tell you about the company that is NOT on the company page?
Find ex-employees of the company, consider their tenure and progression (or lack thereof).
Any pattern???
17 Research
What insights were you able to gain from the recruitment experience?
What might this mean for you as a future employee?
18 Insights
Will you be the only lawyer in the company or are you reporting to someone in another geographical area?
If you are still in your early years of practice (say 1-6 years PAE), tread with caution! It may seem like an immediate promotion but don’t be fooled, this can come at a very high price.
19 Team
Finally and most importantly. Does this role allow you to feel secure and supported?
Both personally, financially and professionally?
20 Security
As you might expect the answers to these questions will likely come from many sources including formal interviews, coffee meetings with current or previous
employees, peers, the internet and your own networks.
Making an informed choice
And it’s important to remember that a great due diligence
process will always pay off!