The 'NIMBY': one of the greatest obstacles firms face when trying to attract senior talent

One of the greatest obstacles firms in growth mode face when trying to attract and onboard senior talent is not often spoken about, either internally by the firms, let alone by us intermediaries when messaging between the respective stakeholders.

Yet in my view, it accounts for a high percentage of abortive talks, or at least a much higher percentage than people think. People don’t talk about it because it makes them feel awkward to admit that it exists. But it certainly exists. It is the NIMBY factor. Not In My Back Yard is the mid-ranking Partner that finds a way to scupper the talks because they don’t want the incoming lateral or team undermining their position at the firm or diverting client opportunities away from them.

Because people don’t like admitting it, what often happens is that a spurious pretext is concocted by the firm to deflect away from the real reason talks are not progressing. This could segue into a whole discussion about the opaqueness of feedback more generally, but that can be explored another day.

The consequences of this “scuppering by stealth” is that often transformational opportunities for growth in sometimes highly competitive scenarios are squandered, and firms with more decisive management take advantage.

How to deal with it during the course of the talks is by having open, honest conversations internally so that potential insecurities and misconceptions can be explored in a non-judgmental, non-threatening way. But this is often firefighting, after it is too late. Better still, transparency around hiring objectives from senior management, and more robust and open conversations before embarking on a strategic growth exercise will create genuine consensus. This can ensure that firms both remain on the front foot during the hiring process, and also give potential laterals more confidence that they will be more seamlessly integrated.

For a strictly confidential discussion about this article, or the market generally please contact me to arrange an initial call in strict confidence on Jason.mann@redlawrecruitment.com