The “Other” Social Network – Events Build Business for Lawyers

The goal of women’s networks can run the gamut. One strategy that many financial institutions and law firms have followed is to use women’s networks and women’s initiatives as a way to build business. For the individual, a book of business and a high billing reputation can very much create a more equal playing field. This is one way to ensure that women in revenue functions get credit for their work and advance in the firm.

Carol Frohlinger, a partner of theglasshammer.com and an expert in building women’s networks recommends keeping a business focus. Frohlinger states, “Women’s networks that are managed well and have a clear business purpose will not only help women but help their companies. The business case speaks for itself — building these business relationships will lead to growth. “

Law Firm’s Success

According to the 2011 report of the National Association of Women Lawyers (NAWL), nationally only 25% of law firm non-equity partners are women, barely 15% of law firm equity partners are women and they are also poorly represented in law firm management.

Most law firms have had these networks in place for anywhere between five and twenty years and most firm’s networks provide a mix of events, seminars and professional development opportunities. So what are the best firms doing to ensure that their efforts really translate into advancement for women?

We talked to top women about how they have personally seen more women advancing when business building activities and networks are available.

Donna Parisi, Partner at Shearman and Sterling, was instrumental in developing the firm’s annual Change Leader Dinner, an event where they invite female leaders to discuss how to remove the systemic barriers that perhaps they have encountered so that younger women can have a clearer path.

But it has another purpose too. “We’re not shy about our intent that we hope it will be the beginning of a business relationship – that these leaders in their respective companies will reach out to do business with Shearman.” She says they strive to get the right balance to make sure that they have invited successful leaders whom they might not otherwise have avenues to.

The firm actively supports women throughout the organization, to help bolster the talent slate and build skills and a pipeline for future leaders.

Parisi knows that this mentoring is key. She believes that women typically believe that to succeed, you need to put your head down and do good work. “Until a certain level, that does serves you well,” she says, “But you come to a point in your career where this stellar personal work product is expected. You need to gain additional perspective and influence, and that happens through networking.”

She also knows that retention is an issue that must be addressed. She adds that though they haven’t found the silver bullet for retaining women who start a family, they have found a silver lining: many women who leave the firm go to other career tracks and often become in-house counsel who then are making the legal purchasing decisions. “They are calling the shots for external counsel.”

And as important as it is to use the formal avenues of networks and events, Parisi believes that women need to take advantage of other opportunities, such as networking with other families at your kids’ schools. “We have our own orbits, and we need to move within them.”

Timi A. Hallem is a female partner at Manatt, Phelps & Phillips LLP who recently ranked in the Working Mother Best Law firms to work for annual survey Hallem launched their women’s initiative when she joined the firm in 2003 and asked the younger women attorneys what she could do to help them. She recognized that business development can be an uncomfortable aspect of the job and the network can really help women develop skills, invite prospects and generally ease that hurdle. She comments around the value of making the focus about business,

“We’ve developed a network of enthusiasm among the men, too, because they see what a great selling point it is.” For most of the events, men typically join the attendees for social time after the seminar and they find their female clients ’bubbling over with enthusiasm.’ The men definitely see the benefit, which has diffused any tension from partners who might have had an issue with an event designed for women only.”

Manatt has one of the highest number of women in senior positions in the industry with 30% of the non-equity partners are women, and 20% of the equity partners are women. In addition, women comprise 25% of the members of the Board of Directors.

“There’s no doubt that our networking opportunities is having a profound effect on the business,” Hallem said.

It is worth noting that women who work as lawyers and also those who work as financial advisors or in sales generally can use the black and white system of who bills the most as a career strategy. If you are in this job, why not bill to win?

For the rest of us, networks can be instrumental in gaining the necessary exposure for your work and knowledge from peers and mentors to advance your career.

By Cathie Ericson