Find and keep talent: Be strategic

81% of law businesses see holding onto talent and hiring as a top issue*. 
 
I had a great meeting last week with Andre Thomas of Thomas Telman who consults on recruitment and retention strategy. 
 
Let’s do a back of a beer mat calculation… 
 
What is the cost of losing a high billing lawyer at 5-10 years PQE out of the blue lured by the competitor down the street? 
 
💷 ⬇ £15-25K recruitment fees for the replacement 
💷 ⬇ £20-30K salary and costs in first 3 months with lower billing 
💷 ⬇ £??? loss of last fee earner’s client relationships 
💷 ⬇ £??? if disruption to team leads to others following 
 
What if, instead, you have a recruitment and retention strategy in which you:– 
 
👉 have your finger on the pulse in terms of the morale of your teams by speaking to and surveying them? 
👉 have a career development programme focused on the firm’s needs and lawyer aspiration? 
👉 have a detailed long term plan for your recruitment needs based on you firm’s strategy? 
👉 constantly survey the talent pool outside the firm and identify our oown targets without relying on outside agents? 
 
For my sins in a past life, I am a Crystal Palace Football Club fan.  
 
We know we are going to lose our top talent, Michael Olise to Bayern Munich. 
 
BUT we know it was all part of the plan: we recruited him young, we are making circa £50m profit AND we have replacements in the pipeline. 
 
This is all down to club’s strategic approach to talent management led by the brilliant sporting director Dougie Freedman. 
 
❓❓ Has your law firm got a stategic recruitment and retention plan? Do you have someone dedicated to this vital role internally or as an outside consultant? 
 
If you would like to hear more about how I help law firms with team management issues please DM me here. 
 
*Walters Kluwer survey 2023 
 
hashtag#lawfirmtalentretention hashtag#lawfirmrecruitment81% of law businesses see holding onto talent and hiring as a top issue*. 
 
I had a great meeting last week with Andre Thomas of Thomas Telman who consults on recruitment and retention strategy. 
 
Let’s do a back of a beer mat calculation… 
 
What is the cost of losing a high billing lawyer at 5-10 years PQE out of the blue lured by the competitor down the street? 
 
💷 ⬇ £15-25K recruitment fees for the replacement 
💷 ⬇ £20-30K salary and costs in first 3 months with lower billing 
💷 ⬇ £??? loss of last fee earner’s client relationships 
💷 ⬇ £??? if disruption to team leads to others following 
 
What if, instead, you have a recruitment and retention strategy in which you:– 
 
👉 have your finger on the pulse in terms of the morale of your teams by speaking to and surveying them? 
👉 have a career development programme focused on the firm’s needs and lawyer aspiration? 
👉 have a detailed long term plan for your recruitment needs based on you firm’s strategy? 
👉 constantly survey the talent pool outside the firm and identify our oown targets without relying on outside agents? 
 
For my sins in a past life, I am a Crystal Palace Football Club fan.  
 
We know we are going to lose our top talent, Michael Olise to Bayern Munich. 
 
BUT we know it was all part of the plan: we recruited him young, we are making circa £50m profit AND we have replacements in the pipeline. 
 
This is all down to club’s strategic approach to talent management led by the brilliant sporting director Dougie Freedman. 
 
❓❓ Has your law firm got a stategic recruitment and retention plan? Do you have someone dedicated to this vital role internally or as an outside consultant? 
 
If you would like to hear more about how I help law firms with team management issues please DM me here. 
 
*Walters Kluwer survey 2023 
 
hashtag#lawfirmtalentretention hashtag#lawfirmrecruitment81% of law businesses see holding onto talent and hiring as a top issue*. 
 
I had a great meeting last week with Andre Thomas of Thomas Telman who consults on recruitment and retention strategy. 
 
Let’s do a back of a beer mat calculation…