Leveraging Alumni Networks Long-Term Growth and Business Development in Law Firms

Leveraging Alumni Networks Long-Term Growth and Business Development in Law Firms

According to an article by Craig Savitzky at Leopard Solutions, law firms are increasingly recognizing the strategic importance of their alumni networks for business development and growth. 

Savitzky notes that many firms, particularly in Big Law, are implementing alumni and career coaching programs similar to those used by consulting firms like McKinsey and Bain. These programs foster relationships with former attorneys who may move to influential positions, including roles within government agencies and Fortune 500 companies, creating potential avenues for referrals and future business.

Firms benefit significantly from nurturing these connections. When attorneys transition out of firms, some firms actively assist them in finding roles where they can act as valuable contacts or future clients. 

Mid-sized firms, known for agility, also leverage alumni for business development and are using tracking tools to maintain up-to-date, accurate records. Unlike LinkedIn, which may have incomplete profiles, these tools offer precise information on alumni positions across law firms, corporations, and government, facilitating seamless re-engagement.

By investing in sustained alumni relationships, firms can turn their former attorneys into powerful business assets. In a competitive legal market, firms that strategically engage alumni networks are more likely to secure future referrals, co-counsel opportunities, and new clients, setting themselves apart in the long term.