Higher Hiring of Partners?

If you are planning on bringing in new partners as lateral hires we recommend you consider integration support (provided by our team of consultant coaches) to ensure this investment sticks. Too many firms fail to plan and integrate new partners: ‘s/he is highly capable, so it would seem unnecessary to provide them with that sort of support’ said one MP. Integrating a lateral hire partner into a new role is about supporting them to become the most effective, to ensure they learn quick ‘the way we do things here’. Assuming that because they have been in the market for x years doesn’t mean they will fit seamlessly in. HoDs, Senior Partners are all busy people, often don’t have time – and the attrition rate so give pause for thought about how to make laterals long to stay with you.

For the full article please click here.

Cooking up a Storm

Having had a wonderful dinner a month or so ago at The Cinnamon Soho restaurant – we would endorse the comments below from Hardens! We are hugely enjoying working with Vivek Singh and his team of senior managers across all three restaurants: The Cinnamon Club, The Cinnamon Kitchen and Anisi Cocktail bar and now The Cinnamon Soho. Well done everyone!

A handily-located West End offshoot of the Cinnamon Club mini-empire, offering robust Indian-inspired dishes in a somewhat basic contemporary-style bistro setting.

The charming Vivek Singh is one of those 'ethnic' restaurateurs who’ve helped make that term pretty much redundant for savvy Londoners. Say ‘Cinnamon Club’ to anyone in the know, and the image that comes into their mind is as likely to be ‘bastion of the Establishment’ as it is ‘Indian restaurant’.

Having succeeded so well in helping to take Indian cuisine out of any sort of 'ghetto’, it’s perhaps some sort of joke that the menu of his casual but efficient Soho newcomer includes the likes of his very own take on the Scotch Egg, and on shepherd’s pie too. Such dishes – if not displaying the sort of finesse you’d expect, and pay for, at the Cinnamon Club – were all done very well on our visit, and the setting is well-spaced by West End standards, if not to our mind especially stylish.

For a robust and reasonably-priced dinner in a handy location in the heart of the West End, you’re unlikely to do very much better than here. Two chaps on a night out, drinking semi-moderately, spent a reasonable £40 a head, but the pre- and post-theatre menus offer the prospect of something approaching bargain Soho dining. Call Nicolas (the manager) and mention Trafalgar: 5 Kingly St, + 44 (0) 20 7437 1664

Shaping up for the Olympics!

Over the past two years we have been members of the Midtown Business Club – and here is an example of what combined abilities can do to help businesses in the area!

And there is the most fabulous Christmas Gala Dinner on Tuesday 27th November please click here for more information.

Ian Roberts, Chair of the Midtown Business Club’s 2012 Task Group, has been asked by Transport for London to forward full and final tube and rail 'hotspot' data to members of the MBC. Ian has prepared the attached summary information to help members to plan for travel disruption during the Games. Please do circulate this to your HR team/employees to keep them updated. For more information please click here.

Please do continue to check the following websites for information:

www.getaheadofthegames.com for general advice
www.traveladviceworkshops.eventbrite.co.uk for information on localised free TfL Travel Advice workshops that are running until the end of May.

If you have any queries, please contact:
Ian Roberts
Managing Director, Central Legal Personnel
Chair, Midtown Business Club 2012 Task Group
ianroberts@central-legal-personnel.com

or Ann Cadogan at the MBC office below.

Ann Cadogan
Midtown Business Club
Tel: 01993 844776
Mob: 07836 510742
Fax: 01993 846321
E-mail: info@londonmidtown.org
www.londonmidtown.org

Saw this and thought of you ---- and your fellow partners!!

Fox Williams, one of our clients, is on the ball here – so we thought we would share this with you all! Tina Williams and her team say it all – so maybe now is a good time to plan how to support your fellow partners build their careers so they can gracefully retire – and not fall off a cliff?

Lawyer loses retirement age appeal

The Supreme Court today handed down its long-awaited judgment on age discrimination in partnerships and LLPs with retirement ages in the case of Seldon v Clarkson Wright and Jakes. Mr Seldon’s appeal in respect of his compulsory retirement was unanimously dismissed.

For the five key points to note, please click here

If you would like advice or support in connection with this issue, please contact

Tina Williams (cjwilliams@foxwilliams.com)
Doug Preece (dpreece@foxwilliams.com)
Daniel Sutherland (dsutehrland@foxwilliams.com)

As you know we are always here – and currently I am writing up a Report on the Role of a Partner in a law firm – for the future. If you would like to reserve a copy – let Charlotte know.

Cameron in Asia - Singapore Continues to Grab the Headlines

Singapore continues to be a hot topic in the news over the last few weeks, with some well known firms pursuing new options in the East, just as David Cameron has suggested.

After a six-month pause on the opening of their new office in Singapore, Addleshaw Goddard are now poised to launch the new branch, headed up by litigation partner Jamie Harrison. For the full article please click here.

Another firm that have just secured a licence for their launch in Lion City are Squire Sanders. The new office will be managed by Ignatius Hwang, who joined the firm in February 2012. For the full article please click here.

But Allen & Overy have called off merger talks with Allen & Gledhill's Singapore office after terms failed to be agreed. A spokesperson for Allen & Overy has said that that the South East Asia region is still seen as strategically significant and also that it is still a key market for A&O. A&G managing partner Lucien Wong (contributor to patricia's Leadership in Law firms book (Dec'10)) put in his statement at the time: “Our strategy of maintaining our market-leading position in Singapore and being a leading law firm in South East Asia hasn’t changed, and we’re confident of pursuing this strategy without being in an alliance with, or being part of, an international law firm.” For the full article please click here.

Invoices, being paid, not being paid and all that jazz

So often the main priority in a business is to gain clients and gain work. This is all well and good and crucial for the success of the business; however, in their eagerness to get clients and get work, many businesses lose sight of the fact that the one key lifeblood to the success of the business is cash-flow. Without that the business heart will not beat! Therefore businesses always need to have at the forefront of their mind ‘Get work, do work, get paid!'

To focus the mind on the third element, Jemma Holliday, Costs Lawyer and Head of Business Development at Jennings Law LLP Debt Recovery Solicitors, provides some useful guidance for businesses to ensure they do not find that all of their cash flow is tied up in unpaid overdue invoices.

As a firm that deals exclusively with debt recovery work, Jennings see the same issues crop up time and time again. Before discussing the debt recovery side there are a few housekeeping issues businesses should be mindful of to get the most out of their credit control/debt recovery procedure.

1. Know who is going to pay you. It may sound an obvious point but so often firms are so pleased to get the work the issue of being paid is not at the forefront of their mind. Therefore once a new client comes on board take a step back and see who you are dealing with. Is it a limited company or an individual? Who is ultimately agreeing to pay you for the work you have been asked to do?

2. Decide if you want to do the work. Again, sounds a little obvious however, once you have established who you are dealing with you may not want to run up a big bill if you find out this particular customer has a shocking credit history and never pays bills! Various credit agencies can run checks on your potential customers and companies house is also a good indication if you are dealing with a company that may be in difficulty.

3. Payment Terms. Make sure terms are clear and specified. Are you in a business where retention of title would be appropriate? What is your firm’s position in relation to interest on late payments? Many businesses are not aware that there is legislation namely the Late Payment of Commercial Debts (Interest) Act 1998 which allow businesses to add interest at a rate of 8% above the base rate. The act also provides for recovery of a fixed amount to compensate the business for the late payment which can be anything up to £100. Businesses should take advantage of this legislation because as a result of the late payment they have been out of pocket!

So your invoice is correct but it has not been paid, what now?

‘The credit control procedure for the business is vital’ Jemma tells us. ‘It’s a hard fact that the longer an invoice is left unpaid statistically the chance of recovery goes down. Businesses need a firm procedure in place and time is very much of the essence.

The starting point is having a system that lets you know once an invoice is beyond terms. If your terms 30 days, on day 31 an invoice is overdue. Many of our clients act on day 31, some use their own internal resources and some have it set within their procedure that we get instructed on day 31 to act as a gentle reminder to their customer that the invoice is outstanding. Jennings have a ‘softly softly’ letter that is designed not to offend any of our clients’ customers, but to gently remind them that the invoice is late, and that our client’s credit control procedure has resulted in our involvement. It stresses that they value the relationship and assume that the delay was simply an oversight. Clients are valuable and businesses don’t want to lose them. If there is a chance that the relationship is worth salvaging then try and keep it. As this service only costs £1 plus VAT it is a highly cost effective way of injecting cash flow at a low cost.

If you are dealing with your own credit control in house after day 30 have your plan of attack. How many calls/ letters will you send before you take things to the next stage and when this is decided stick to it?

If that next stage is reached and despite your best efforts payment has not been made you MUST follow through with your threats. If you have said that you will involve your Debt Collection Agency or Solicitor then you must do so. If not your debtor will know you will not follow through and they can avoid paying.

Know your options. Many firms of Solicitors offer low cost assistance for help in recovering overdue invoices. Jennings provide a ‘letter before action’ service for only £1 plus VAT so businesses know that for even the lower value debts they have a tool available that is cost effective.

Outsourcing debt recovery work does not need to cost the earth. Jennings Law LLP Debt Recovery Solicitors offer various fixed charging structures for dealing with matters at any stage with costs as low as £1 plus VAT and also offer fixed fees. If you would like a free ‘health check’ on your own debt recovery procedure which includes free guidance on the late payment legislation please feel free to contact Jemma Holliday at Jennings Law LLP on 01228 673332 or by email jemma.holliday@jenningslawllp.com

Enhanced Board Effectiveness through Diversity: an introductory seminar for Partners

Regardless of quotas, or Government guidelines, the Board room would benefit from developing a more inclusive approach to who is on the Board – and why. It is clear that there are many prejudices held against professionals as possible board members, such as lawyers. They are apparently seen as too risk averse, narrow focused and unimaginative, leaving the space clearer for accountants: their saving grace being that they can read the numbers!

It is also evident that fewer women put themselves forward for Board appointments (Executive and Non-Executive) – not because they don’t have the skills, but because they may have too harsh (or realistic) an assessment about their own skills and likely contribution. However, it is this more accurate understanding of self, and so appreciation of other's capabilities that actually makes them effective.

To help start bridging the gap, we are now running a series of seminars to help women partners in law firms tap into their expertise and realize their potential in the Board Room – for mutual benefit.

For details of the seminar including dates, venues and costs please click here

If firms are interested in running in-house programmes we can also introduce some excellent role models to help and contribute to the debate and growing database of opportunities for NED, Judicial appointments and Trustee roles.