We explore how lawyers can switch their practice areas, with reference to general upskilling, the possibilities of lateral hiring, opportunities with mergers and acquisitions, and much more.
There are plenty of reasons to branch into a new practice area. Some lawyers follow market demand, or market trends, perhaps witnessing the decline of particular practice areas, or even the over-saturation of lucrative or growing practice areas. Other lawyers simply move due to personal interest, perhaps one that has evolved in their initial practice area. Others do so for career growth, perhaps feeling constrained in their previous practice area or hoping for greater upward mobility. And some, of course, switch in the pursuit of more money.
But branching into a new practice area can be quite difficult. Lawyers need to ensure they are fully informed about the decision and take the right steps to make it happen. In this article, we explore the various routes available for lawyers to branch into a new practice area, looking at upskilling, lateral hiring, opportunities presented by mergers and acquisitions, and so on.
Switching practice area is a huge commitment. It will require a lot of work and a lot of patience. The first step for lawyers is to consider the decision. Start by assessing your strengths and weaknesses. You might, for example, dislike confrontation and actively avoid public speaking, in which case switching to Dispute Resolution is likely a bad idea. You might enjoy numbers and working with clients, in which case Corporate Law might seem attractive.
Try to understand the various requirements of the new practice area. Look at emerging trends, revenue growth, and aim to talk to someone who works in that area.
And then perform some last elements of self-critical analysis. Ask yourself whether you’re prepared to feel like a novice again, whether you’re willing to invest time into learning a new skill, whether your reason for switching justifies the effort, whether ends justify the means.
Once you’ve decided to switch practice areas, the first step is to study. It’s best practice to form a habit, spending a minimum amount of time each day studying caselaw, regulations, practical guidance, precedents, and any other relevant information. It might be helpful to use a practical guidance tool, such as Lexis+, which will help you master the necessary skills to thrive in your chosen practice area, with easily digestible resources and materials.
You should also read blogs, join groups and initiatives dedicated to your practice area, attend relevant events, and sign up for webinars and workshops.
On top of all that, you’ll need a deep understanding of your practice area, which will depend on more in-depth study. So you should buy the right books. Do some exploration and find the best legal texts for your specific practice area. Here are some well-known examples:
Another opportunity for learning is through networking with people in the practice area. Introduce yourself if attending events, or reach out to people over social media. You may also want to find an experienced mentor, perhaps someone in your firm or outside that is able to give you advice to help you master the new practice area. That might prove particularly helpful at the beginning of your study, as they can give you useful tips and advice.
Lateral hiring is a powerful talent management strategy. 40% of law firms, according to a ÀÏ˾»úÎçÒ¹¸£Àû report on organic law firm growth, said lateral hiring has become a top priority. For lawyers, lateral hiring allows them to take advantage of high demand, to move firms that better suit their needs and better meet their ambitions, and to switch practice areas.
Lawyers can start by looking for the right opportunities. That means researching firms that have a strong reputation in your desired practice area, particularly focussing on firms that can meet any other needs: flexibility, pay concerns, etc. You may want to reach out to legal recruitment agencies, as they often have prior knowledge of potential opportunities, and you’ll want to reach out to your network, too, perhaps with direct asks or posts on socials.
Mergers and acquisitions (M&A) can provide myriad benefits to law firms. It allows firms to increase their geographical reach, boosts brand recognition, exploit economies of scale, diversify resources, build up a stronger client base, and so much more.
Another core benefit is expanding into new practice areas. And that can also benefit lawyers, too. M&As offer lawyers unique opportunities to stay with a firm and still pivot their area of specialisation. The M&A may expose lawyers to new working environments, giving them first-hand experience of new practice areas and perhaps providing opportunity for collaboration.
Lawyers may find themselves attracted to a new practice area. The switch is comparatively simple, as the firm can provide training and resources, utilising the lawyers who already practice in that area of law. Mentorship becomes seamless, as lawyers can shadow seasoned lawyers and experience the real-life application of law – something books cannot provide.
In addition, M&As often lead to organisational restructures, which may open up opportunities for lawyers to switch practice areas. Or perhaps a request may lead to a position opening to the lawyer. In short, M&As provide lots of opportunity to learn from others, learn about a new practice area, and find a new place in your organisation that better meets current needs.
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