Word: systemics
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...firms today publicly defend the extended recruiting system as an important component of acclimating new hires to life at a firm...
...interview process is an opportunity to learn about the firms,” Murray said. “It would be hard to get a firm idea of what the firm is like under a different system...
...That system simply is not tenable in a tighter legal market, Nanda said...
...past, associates have climbed the pay-scale in lock-step with their recruiting class at set intervals. Associates are guaranteed job advancement and firms faced steadily escalating costs in the absence of a system that incentivizes high performance. According to Wilkins, a competency-based system would force associates to meet bench-marks before gaining a promotion...
Reforming this system poses a typical adversarial cooperation problem for firms who fear that other firms might cheat the system by keeping the old methods in place and attracting the best recruits with a cushy compensation system. But Wilkins said that the financial crisis has placed sufficient pressure on the legal industry to make cooperative reform possible...