Robert Braverman (courtesy photo)
The law firm talent pool was once akin to a revolving door, with many attorneys making exits and new lawyers quickly rushing in. What can a law firm do to make sure attorney talent decides to stay put? How can a law firm hang onto its most valuable asset — its lawyers?
I recently had the pleasure of chatting with Robert Braverman, principal and managing partner of Braverman Greenspun, a well-known real estate boutique specializing in real estate law, with a focus on cooperatives and condominiums, to get his thoughts on the matter. Here is a write-up of our lively conversation on some of the best ways to retain attorney talent at a small firm.
Staci Zaretsky (SZ): What are some of the biggest benefits an associate can expect at a smaller firm?
Robert Braverman (RB): Simply stated, you get to be a real lawyer. I’ve interviewed many midlevel litigation associates who have spent the first part of their careers at large firms and have been astounded at their lack of actual litigation experience. Question: “How many depositions have you taken?” Answer: “None.” Question: “How many motions have you argued?” Answer: “None.” At a smaller firm (certainly at ours), associates are far more likely to have a hands-on role in the firm’s matters at an early stage of their career, which, assuming they are receiving a proper level of guidance and oversight from the more senior attorneys at the firm, will be an invaluable experience for them.
Equally important is that associates at smaller firms are more likely to have direct client contact at an earlier stage in their careers than their Biglaw counterparts. All the associates at our firm have regular and direct contact with our clients, and an important component of our recruiting strategy is to bring in people who we believe will interact well with the firm’s clients. We aren’t looking to keep associates in a deep dark corner of the office performing legal research and document review or pulling documents together for a closing. A direct byproduct of this is that the firm’s associates, at a very early stage in their careers, form their own client relationships, leading to their business development. Our junior associates usually begin to get “origination credit” within two years of joining the firm. The firm’s liberal “origination policy” fosters the ability of our associates to develop their own “book.”
Finally, let’s face it: when it comes to compensation, small firms cannot compete with Biglaw, so the trade-off, in addition to the hands-on experience and the ability to pursue one’s entrepreneurial ambitions, is the fact that working at a small firm will likely afford associates to have a better quality of life by having more time outside of the office. That doesn’t mean our associates don’t work hard — they do; however, working weekends and into the wee hours of the morning is the rare exception rather than the expectation.
SZ: What do you think makes your firm different from other smaller firms?
RB: I can’t speak about the culture or business models of other small firms; however, one of the things we tell every associate candidate during the interview process is that if they come to work at Braverman Greenspun, the sky is the limit for them. The best hire we can possibly make is the attorney who will one day have their name on the door. In other words, we’re not looking for candidates who will pass through and move on to another job in a couple of years. We want people looking to spend their entire careers at the firm and become leaders and preeminent experts in our industry. Of course, this doesn’t always happen, and we’ve had associates who have left the firm (and some who have been asked to leave), but the fact that nearly half of our partners started with the firm as associates is telling.
SZ: What has your firm done to ensure that retention remains strong among its associate ranks?
RB: We have not had an associate leave the firm since before the pandemic, which is particularly impressive given the strong job market that has existed during this period of time.
We closely monitor the professional growth of our associates and ensure that as their experience and skill set develops, so too does the complexity of the work they are asked to do and the level of independence they are given. At the same time, the congenial culture of the firm allows associates to feel comfortable seeking guidance they may need from more senior attorneys. There isn’t an associate at the firm who doesn’t regularly pop into my office with a question. In addition, our associates are no more than two or three doors away from a partner who was an associate with the firm, so it’s not hard for them to see that advancement really happens at our firm.
SZ: Is there anything you’d recommend to other firms that may help when it comes to retaining top talent?
RB: Again, small firms are always going to be at a disadvantage when it comes to compensation, so it’s important to level the playing field as best as possible by offering associates the opportunity to have more hands-on experience and develop their own client base, all while having a better quality of life than Biglaw associates. Additionally, do not take a talented associate for granted. You’ve invested time and money in the professional growth and development of your associates. Let them know they are appreciated and have a bright future with the firm (assuming, of course, that they do). Finally, continue to challenge them to be better by taking the time to review and constructively critique their work. An associate who feels appreciated, well-mentored, and fairly compensated at a firm where they can advance personally and professionally is less likely to find a “greener pasture.”
On behalf of everyone here at Above the Law, we’d like to thank Robert Braverman of Braverman Greenspun for taking the time to help answer some pressing questions on talent management and retention at smaller law firms.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.