Look after your existing clients as they provide most of your revenue - current and future. This mantra seems to be the hot topic in Law firms at the moment, with a focus on sourcing professionals who can bring an expertise to the management of these clients.
Client Relationship Managers, Client Development Managers, Account Managers, Key account Managers etc etc whatever you want to call them, individuals who understand how to apply a process to building closer links to existing business, understand their clients' businesses and can anticipate potential issues which you as a provider can help with - before they become an issue - are suddenly worth their weight in gold.
The problem is that, outside of London, there are not many who specialise in this area (with Law firm experience) but everyone wants an expert. Supply is low, demand is high - it's a classic issue. Therefore, if you are looking to recruit then here are a few things to think on before you start interviewing:
- Is it essential that they have done this job before?
- Is it a skill set which exists in another role (BD Manager for example) which can be focused into this area?
- Would it be simpler to bring in a more senior interim to set up the processes and then hire a more junior individual for the long term?
- Could a more experienced person take this role on 3 days/4 days a week? Same cost, more experience but less days - it tends to balance out.
- Could a fee earner, who has shown a capability for client management, be interested in focusing full time on client care?
There are a lot of things to consider when recruiting someone into as important a role as this - one where you are placing your best relationships in the hands of someone new - it is therefore worth the extra time.
If you are thinking of recruiting into this vital area of your business and want to get a good understanding of the market, find out how others tackle the issue, what the candidate market is like, who else is recruiting similar positions, what the salary should look like and all else related to recruitment and the market then give Hatch a call to discuss.