Law firms have made great strides in building strong alumni programs that benefit the firm as a whole. A number of firms have maintained robust alumni programs for years, while others are considering initiating one or in various stages of the process. Whatever the stage of development, the fact remains that firms recognize the importance of leveraging their alumni for future business.
According to the 2006 issue of Law Practice Magazine, nearly half of the AmLaw 100 firms launched alumni programs. Since that time our economy was impacted by the financial crisis, resulting in the layoff of 4,633 lawyers at 138 large firms, as reported in the
ABA Journal on January 8, 2010. As a matter of fact, more people were laid off by more firms than had been reported for all previous years combined. Attorney departures, in significant numbers, was new to the law firm world. In the past, most large law firms retained attorneys until a partnership decision was made.
Through the use of effective alumni programs, firms developed initiatives to stay connected with these departing lawyers and formed sustainable relationships that benefited everyone involved.
Presently, most firms are back to normal attrition rates and recognize that alumni relations should be an ongoing part of the law firm culture. Of course, someone needs to manage the initiative, but it needs buy-in and ownership from the entire firm. Additionally, alumni programs are a multi-departmental initiative that may involve firm management, administration, human resources, marketing, and IT. Responsibilities for each department should be clearly outlined, ownership taken, and a budget formulated.
Cooley LLP
- Alumni portal launched in 2004; features include Alumni Directory, Events, News and Referrals, and Career Center.
- Generated 10 business leads and $500,00 in new business in its first year.
- 370+ members on the firm's LinkedIn Alumni Group, Cooley LLP Alumni.
O'Melveny's & Myers
- 400 alumni attorneys registered on website, which includes job listings and interfaces with LinkedIn.
- 579+ members on the firm's LinkedIn Alumni Group, OMM Connect.
Skadden, Arps, Slate, Meagher & Flom
- Alumni program launched in 1997.
- Magazine published twice a year.
- Hosts alumni portal with 5,000 registered alumni.
- Provides CLE to alumni and hosts social events throughout the year.
- 1,452+ members on the firm's LinkedIn Alumni Group, Skadden Alumni.
If your firm is considering an alumni program, check out this quick reference guide for creating an alumni program, successful program activities, and the benefits of having an alumni program.
By Raychiel Webb, Marketing and Business Development Manager at Bryan Cave for the March/April 2012 Issue of the Capital Ideas Newsletter.