The battle for talent continues to intensify.
Join us on Thursday, August 19 at noon for a Leading Law Roundtable via Zoom to discuss recruiting, retention and compensation, the trifecta of strategic questions for law firms of all sizes.
Nationwide, there are 8,000+ openings for attorneys in the Summer of 2021, greatly exceeding 2017-2019 when open job numbers were between 6,000 – 6,500.
Impacting the job market:
- Relocations driven by the Pandemic
- Remote work driven by the Pandemic
- Decreased importance of geography based on employer flexibility
- Concern about safety of working due to the pandemic
- Child care issues and aging care issues impacting family members trying to work or forcing them out of the workplace
- Rising revenues and profits in BigLaw leading to rising salaries and bonuses
- Several Am Law 200 firms have increased salaries in smaller cities to match or move closer to major market salaries
- BigLaw talent search puts a strain on small to mid-size firms as they struggle to compete for the best talent
Recruiting
How effective is LinkedIn for recruiting? The Jobvite Recruiter Nation 2016 report found that 87% of recruiters found LinkedIn to be the most effective platform in finding vetted candidates. With such a competitive landscape for finding great talent, law firms can’t afford to ignore LinkedIn for recruiting.
Retention
Companies with diverse workforces are more profitable and have greater chances of recruiting and retaining top talent. The largest law firms have had Diversity programs for years. But Diversity, Equity & Inclusion policies are not limited to BigLaw. Millennials and GenZs want to work in diverse workplaces and lack of diversity is often cited as a reason young lawyers leave firms. Build your workforce today with retention in mind by hiring more diverse talent.
Compensation and Benefits
The traditional benefits package will no longer suffice. In fact, 98% of business leaders surveyed by the Harvard Business Review plan to offer or expand at least one employee benefit such as childcare, flexible work arrangements, or improved mental health support.
Leading Law Roundtable
Leading Law is our online community for anyone in the legal profession who wants to Evolve and Thrive. There is no cost to join Leading Law, and no cost for the Roundtable. Join Leading Law and participate in the Roundtable via Zoom by using the event link found here.
How to Watch
You can visit Leading Law by logging in at LeadingLaw.lawyersmutualconsulting.com and select “Events”. Log into the Zoom event Thursday at noon.
Use the Leading Law App on Your Mobile Device
To enjoy the Leading Law app on your mobile device, search for the Mighty Networks platform app. Create a password and search for Leading Law. Use the app to register for events, participate in discussion groups, virtually network, search and review resources such as blog posts, slide shows, and e-books. Our Roundtables will be recorded and can be viewed at a later date.
About The Author
Camille Stell
Camille Stell is the President of Lawyers Mutual Consulting & Services and the co-author of Designing A Succession Plan for Your Law Practice: A Step-by-Step Guide for Preparing and Packaging Your Firm for Maximum Value. Continue this conversation by contacting Camille at camille@lawyersmutualconsulting.com or 800.662.8843.
