Consultants are applauding in-house law departments’ efforts to attract and retain talent through an array of creative perks, such as bigger bonuses, flex time, telecommuting, more vacation time, free gym membership and valuable long-term incentives. But companies may want to consider following the lead of one New York law firm that gives its new associates an unusual and empowering incentive.
New York real estate lawyer Adam Leitman Bailey treats his firm’s new associates to a Brooks Brothers or Saks Fifth Avenue suit, tie and shoes. Bailey told the Wall Street Journal that his goal is to make sure his young litigators put their best foot forward in court. Since he founded his firm in 2000, Bailey has purchased 10 suits for his associates, with each clothing package amounting to more than $1,000.
“It’s not about looking flashy, it’s about being credible,” he said. “Persuasive colors—we don’t wear striped shirts, only white or blue.” Bailey also told the Journal that blue, maroon and red ties are the most persuasive.
Fashionable new power suits are just one of the perks Bailey extends to his employees. His firm also offers signing bonuses, profit-sharing, in-office massages and sporting events tickets.