Deciding which kind of employment law firm you want to work for?
Here’s why we think that you should choose one that has a limited company business model based on entrepreneurialism, like Springhouse, rather than one that has a partnership-based structure.
Here’s why we think an employment law firm with an entrepreneurial business model can be better:
- You work in a meritocracy. Everyone’s voice is heard and everyone plays a part in how the firm grows. Your career path is clearer and you are more likely to be able to move along it based on merit alone.
- Better financial rewards across the firm. The success of the firm is more evenly shared across the business. The reward for your hard work is more tangible.
- More investment for faster growth. It is largely easier to retain profits and access capital for growth. Investment can be more straightforward and expansion can be achieved quickly.
- Modern economy agility. A business model based on entrepreneurism has the flexibility to meet the demands of today’s economy and respond to them quickly and assuredly.
- Engagement in the business of business. You and your colleagues are more engaged with every aspect of how the firm performs, making for a stronger, more successful business.
- A better career. If you are working for a stronger, more successful employment law firm, you can look forward to a better, more rewarding and fulfilling career.
And here’s why we think you should pass on a firm with a partnership-based business model:
- Slow decision making. The decision-making process can be complicated and protracted, which is poorly suited to the modern economy and marketplace.
- Harder to get promoted. A firm with a partnership-based business model can be more likely to promote staff on the basis of length of service rather than merit.
- Little choice about big relationships. You are likely to have to work closely and invest with people with whom you wouldn’t necessarily want to have such significant relationships.
- Cashflow and funding restrictions. Tax rules and the ownership structure mean that cash is usually taken from the firm in the form of drawings. This potentially leads to a reliance on expensive bank funding for growth.
Apply to become a Springhouse employment solicitor today
Want to know more about working for Springhouse Solicitors?
Contact us on 0800 086 9243 or email@example.com