Your Law Firm’s Keys to Winning the Talent War
October 13, 2022
We have been dealing with the fallout from the “Great Resignation” as people reevaluate and renegotiate the way they want to work and live. Employees are now favoring flexibility and ranking purpose and meaning in their work above job security. The September 2021 survey conducted by Bloomberg Law’s Attorney showed that nearly half of all lawyers surveyed said they were either actively looking for new jobs or open to new offers. Aderant’s soon-to-be-released Business of Law Survey found that lawyers are in the top three areas where firms anticipate budget growth in the next five years, indicating that law firms plan to invest in hiring, engaging and retaining lawyers and other legal professionals. Fifty-six percent of the firms surveyed named talent retention as their No. 1 challenge.
Law firms are now competing for talent with corporations, alternative legal service providers, academic institutions, and legal technology product and service companies. The key to winning this talent war is to offer real flexibility and expand the geographic scope for new talent. Look for non-traditional candidates such as technology, project management or legal operations professionals. Defining your culture, focusing on well-being and providing skill-building opportunities will make your firm a desirable place to work for new hires, and keep current employees engaged.
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