The Impact Of The Great Resignation On Law Firms
David Woolstencroft and Steve Tyndall the CEO and Founder of Client Sense talk about "The Great Resignation" and some practical steps that firms can take to deal with talent leakage and potential loss of clients. Despite the talent war that is happening around the world, Steve highlights what employers could do to increase employee retention and client retention by essentially nurturing relationships and growing loyalty.
Sometimes you may need to give your employee an opportunity and challenge them to step up to prove their capability. Provide them with an opportunity to shine and give them purpose and a sense of fulfilment, as employees value that. Steve also mentions that he believes that “soft skills” are the most important skills rather than the matter management aspect to grow the business and the client base, and ultimately generate revenue in the end.
They also discuss the term “mid-tier firm” that varies depending on the country, which means size is not a clear indicator of the mid-market firm. There are a lot of benefits of the mid-market firms than the larger firms due to the bureaucratic nature of the larger firms. As a client, they are looking to achieve the purpose and to become a priority client at the firm.
Watch this video to find out how you could well prepare yourself for a talent war and build a long-term relationship with your employees and clients.
Download the 'Manage Staff Changes and Protecting Key Relationships' report here.
Also read: Law Firm Talent Management | Where to Focus and 2023 Pulse Check | Year of Great Change for Law Firms?
Subscribe to the Legal Practice Intelligence fortnightly eBulletin. Follow the links to access more articles related to the business of law and legal technology.
Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of Novum Learning or Legal Practice Intelligence (LPI). While every attempt has been made to ensure that the information in this article has been obtained from reliable sources, neither Novum Learning or LPI nor the author is responsible for any errors or omissions, or for the results obtained from the use of this information, as the content published here is for information purposes only. The article does not constitute a comprehensive or complete statement of the matters discussed or the law relating thereto and does not constitute professional and/or financial advice.
