A new study by Matthew Bidwell, an assistant professor at the University of Pennsylvania's Wharton School, found that
external hires get paid 18 % to 20 % more than internal employees do for the same job, but they get lower marks in performance reviews during their first two years on...
Not exact matches
Many group leaders also have
external grants that allow them to
hire more people, but they must
get permission before applying to ensure there's enough space for expansion.
When he talks to in - house counsel, there is a consistent theme of
getting more work and
hiring more lawyers, and as a result, the relationship between
external legal providers and in - house departments is changing as well.
Sam Glover: Last we spoke you were kind of if I'm recalling correctly the
external facing Access Legal had had sort of an unexpected effect like it was... you felt like people were going there or seeing what was involved and then saving up the money to
hire you which meant that the portal itself was kind of a failure but it wasn't really hurting your ability to
get clients in the door.
(i) BMO reducing its roster of firms from about 800 to 200 with further reductions planned; (ii) the clients of seven sister firms
hiring me to help them
get control over their legal spend and forge stronger and more value based relationships with their firms; (iii) the many small and mid-sized businesses who
hire accountants to do all of their tax and structuring work because it is cheaper than dealing with lawyers; (iv) firms
hiring me to help them figure out how to budget, set and meet client expectations without losing money; (v) «clients» who never become clients at all as they do their own legal work based on precedents that friends share with them; (vi) the various forms of outsourcing that are now prevalent (from offices in India to Tory's office in Halifax); (vii) clients
hiring me to figure out how to increase internal capacity without increasing headcount in order to reduce
external spend; (viii) the success of firms like Conduit, SkyLaw and Cognition (to name a few) who are taking new approaches to «big» and «medium law» work; (ix) the introduction of full time project managers in many firms; and (x) the number of lawyers throughout the profession who regularly don't docket chunks of their time in order to avoid unpleasant fee conversations with their clients.
There's no
getting around the compensation question when it comes to internal promotions versus
external hires.
In his paper «Paying More to
Get Less: The Effects of
External Hiring versus Internal Mobility,» Wharton School of Business Professor Matthew Bidwell found that workers promoted into jobs have significantly better performance and lower rates of voluntary and involuntary exit for the first two years than workers
hired into similar jobs.
Sometimes,
hiring managers like to
get external confirmation that you are a valuable and in - demand candidate.