This Is How the Future Looks: Mega Law Firms and Mega Churches

In the late 1960s/early 1970s the counterculture meme had been "Small Is Beautiful." That was an era when youth and other kinds of activists feared the exploding power of large multinational corporations. 

Of course, small never really caught on. The stampede was to land a job in one of those multinationals. Currently, it's taken a lot of push from some employment experts to convince Gen Z that opportunity exists in small business. The jury is still out on that one.

Meanwhile, recent events and trends reinforce that the present and the future belong to big. That extends from the practice of law to the operation of religious organizations.

What has dominated legal and business news this week has been the announcement by mega law firm Gibson Dunn that it hired away from small law firm Wachtell star litigation partners. Because of its size GD can "afford" to pay those powerhouse brandnames what they assess they are worth in the current hot market for talent. Explicitly, The Wall Street Journal puts it this way: 

"A new breed of mega-firms now dominates the industry. These firms, with roots in places like Chicago and Los Angeles, include Gibson Dunn, Kirkland & Ellis and Latham & Watkins. They provide one-stop services to banks, hedge funds and other large financial clients, raking in as much as $10 billion a year."

But let's not get hyperbolic. 

Boutique law firms such as the newly formed ones by Karen Dunn and Roberta Kaplan have their specialized markets. They can continue to thrive. Wachtell might also hold on with its focus on M&A. 

However, overall, law firms which aren't doing what's required to grow rapidly with the goal of being a mega player could be left behind. That means not being able to attract star talent. Clients buy the marque individual brandname, not the brandname of the firm. Chasing after those twinklers is in overdrive.

The same dynamic has overtaken much of traditional religion and even spirituality. A popular book is "Why Religion Went Obsolete" by Christian Smith. The media supports that the institution of organized religion is dead. But, the reality is that what's in decline are congregations with less than 50 members. Growing are organizations with 1,500 members or more. 

The typical example of that is Calvary Church, based in the Toledo, Ohio Metro Area. Its giant auditorium reaches to heaven. However, that isn't large enough to accommodate all members. Three services have to be scheduled for Sunday. There's a capital campaign to construct a larger facility.

In coaching, I guide youth and career changers how to land the first job in smaller organizations. From there, they should then head to larger ones or starting their own businesses. 

Careers. Forget all that. It’s about earning a good living, no matter what.

Complimentary consultation with Jane Genova, StreetSmart Coaching (janegenova374@gmail.com)



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