GCs Say the Talent War Is Still Winnable: The Morning Minute

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WHAT WE'RE WATCHING

TALENT SHOWS - With Big Law throwing Mr. Krabs-level piles of money at top talent, in-house recruiting right now is challenging to say the least. Challenging—but not impossible. As Law.com's Trudy Knockless reports, there are plenty of optimistic GCs out there who believe high-caliber, eligible candidates exist. You just need to know where to look for them and what to offer when you find them. But it's not just blind faith—several legal department leaders have seen real results recently. Bath & Body Works GC Michael Wu, who has added 15 people to his legal department since joining the company last year, told Knockless he was able to overcome the perceived shortage for privacy lawyers, for instance, by reconnecting with a lawyer he'd previously met through the Asian-American Bar Association. "I think a lot of times, through word of mouth in your network, you're able to find some amazing candidates," he said. Aliya Haider, GC of software-development platform Beacon, agreed there's an abundance of appealing candidates. Finding them, she said, requires a willingness to think less conventionally about who might be a good fit while also ensuring the workplace is inclusive and accepting. "I think being broad-minded about who can do the job, leveraging colleagues' networks in addition to your own and offering a space to be one's authentic self are all key differentiators," she said.

ACQUISITIONS - Speaking of hiring: if you happen to be an accomplished dealmaker, Big Law is ready to negotiate. As Law.com's Andrew Maloney reports, large law firms are investing heavily this year in corporate and merger practices by swiping lateral talent from rivals. Several big firms announced key corporate hires just this week, including Hogan Lovells, Latham & Watkins, Proskauer Rose and Paul, Weiss, Rifkind, Wharton & Garrison. Despite a slow down in some deal work earlier this year, M&A lawyers are expecting demand to keep up, bolstering the need for partner expertise in transactional work. Bill Curtin, global head of M&A for Hogan Lovells, told Maloney the firm has been hiring dealmakers because clients are saying, "We can't just grow organically. We have to move through M&A to keep pace with our neighbors and our competitors." And the "incredible locomotive" that is M&A has continued on a torrid pace through much of the COVID-19 pandemic, Curtin added. "A year or two ago, I wouldn't talk about regulatory intervention or geopolitical uncertainty. I'd talk about COVID. But even COVID couldn't thwart it," Curtin said. "I think if we talk at Christmastime, M&A will prevail. The propulsion of M&A is such that even with geopolitical uncertainty and regulatory intervention, M&A will steam ahead."