The relationship between attorneys and law firms is complex. They know they are in a service business, but they also expect more from their law firm than any other profession. This culture of high expectations, coupled with the demands of their profession, can easily lead to dissatisfaction among associates. Keeping the best talents can be challenging, especially in times of great resignation. In order to retain your talent, you need to make sure that associates are happy—and that doesn’t necessarily mean simply paying them more. Here are five ways for your firm to retain its talent:
1. Grow Your Firm into a Great Place to Work: A law firm needs to demonstrate that it is not just any company. It needs to show that there is something about its culture and environment that makes an employee feel energized and motivated. Law firms can entice talented professionals ready to stay and contribute if you can provide a healthy work-life balance and a clear purpose. When associates are happy to come to work and feel like part of a team, they are more likely to stay with their current company for the long run.
2. Provide Opportunities for Growth and Professional Development to Associates: There are many reasons why associates may decide to leave their firm, but one of them is that they do not believe there is enough room for advancement within the company. Training sessions and mentorship programs can provide opportunities for growth and development for legal associates. This will encourage them to continue advancing themselves professionally and prepare them for future roles.
3. Attractive Perks, Rewards, and Recognition: According to the Glassdoor Survey 2015, employees are more inclined to consider attractive perks, rewards, and recognition when weighing their options for a job. This could make them feel appreciated, respected, and worthwhile, which can lead to more productivity.
4. Offer Flexibility and a Healthy Work-Life Balance: According to recent research, businesses with more accommodating attitudes about work hours are more successful in luring and keeping good people. If the law firm sticks to the standard 9–5 inflexible work schedule, you tend to have lower employee retention. Since the great pandemic times, individuals are looking for flexible working hours and work-life balance more than compensation.
5. Continuous Feedback on Performance: Feedback is essential for figuring out whether your abilities are developing in the proper way to meet your goals. Giving regular feedback is always a great way to demonstrate your interest in and participation in the team’s professional development. Giving underachievers a chance to enhance their performance and be successful at work increases the organization’s output. This could aid the firm’s initiatives to keep a friendly environment and culture.