The Great Resignation – A Guide for Law Firms
The Great Resignation of 2021, felt most strongly in the United States, refers to a massive number of resignations occurring across the globe. While the pandemic has played a significant role in promoting the Great Resignation, many find the Great Achievement metaphor more apt in the current moment. The Great Realization is a more positive version of current events, combining the negative aspects of the pandemic and the Great Resignation with a hopeful outlook for the future of society. In a sense, achieving positive results after the pandemic may mean successfully navigating the vacancies left in the wake of the Great Resignation.
What triggered the big resignation in law firms?
An air of uncertainty has unfolded in the wake of the pandemic, affecting many aspects of daily life. With it came the Great Resignation, which led to millions of workers quitting their jobs, many in search of better jobs elsewhere. While the efforts of European countries are influencing a slowdown in resignationsbringing them closer to pre-pandemic levels, European companies are adapting their talent retention and attrition strategies However.
In the legal sector, these strategies are aimed at mitigating employee quits and law firm turnover. Employees leave law firms for a myriad of reasons, including:
- Rethink preferred work-life balance scenarios
- Remote or hybrid model working environment options
- Travel Considerations
- High workload expectations and/or attorney burnout
- Compensation and benefits considerations
- Health and safety issues
- A desire for meaningful work opportunities
With these considerations in mind, employers are now focusing on how best to adjust their hiring practices, talent retention, and talent attrition strategies to hire and retain talent within their organization.
How can law firms fight the Great Resignation?
Law firms can avoid losing strong talent within their firm by focusing on the priorities that the modern workforce identified during the Great Realization. The following steps can go a long way in encouraging employees to stay employed at your company.
Develop a benefits package that meets the needs of lawyers
It’s no secret that a competitive salary, benefits and perks can secure talent for the long term. If possible, reassess these measures to make your business competitive with new opportunities that may arise elsewhere. Office perks, like cozy common areas or free snacks and coffee, or remote working perks, like stipends for food delivery or home office equipment, are also good additions to a employee benefits package.
Another option is to make advancement opportunities fully transparent; give employees a clear career ladder, an overview of responsibilities, and the experience needed at each level, which can reinforce employees’ desire to stay with your company long-term to move up the value chain.
Create a collaborative work environment for more engaged employees
Burnout for lawyers can stem from high workload expectations or isolation, which can be alleviated by creating a more collaborative work environment among employees. Internal adjustments to the law firm’s culture may include designating conference rooms for impromptu meetings or collaborative working times or reorganizing your firm’s departments to encourage greater cross-departmental collaboration. Mentorship programs, in which early career professionals can learn from seniors, can also foster a collaborative work environment that employees can enjoy over the long term.
Clearly communicate job requirements and expectations
To attract the right candidates for any job openings your company may have, it can be helpful to define the requirements, expectations, level of education and experience, and compensation and benefits for each. post. The more refined you are, the more you will be able to identify the candidates who will best match the positions available in your company. At the same time, clearly communicating these metrics will help candidates better understand what to expect if they are offered a position; job applicants become long-term employees when their work experience matches the expectations initially presented. Understanding the workload that a given position entails can also help mitigate lawyer burnout rates.
Identify ideal candidates who match the values of the law firm
The best candidates for positions within your company will, of course, depend on the quality of those candidates on several parameters. However, to minimize talent attrition, your company will want to identify candidates whose values and career goals best align with those of your company. For example, a candidate who wants to move up the career ladder may not stay with your company if there are no growth opportunities. When hiring candidates, be sure to identify candidates who have the potential to last long term as partners of the law firm. To attract the right talent pool, consider updating your company values to meet the changing needs of the modern workforce.
Stop the Big Quit: Strategies to Reduce Law Firm Turnover
As the big resignation continues, a number of strategies for attracting and retaining top legal talent are presenting themselves. To learn more, check out these 5 tactics your company can adopt in an effort to stop the big quit.