What You Need to do to Hang on to Your Best Employees

We are experiencing a massive talent shortage in law firm recruiting and marketing, especially at the junior and mid-levels.  The reason this is happening is two-fold:

  1. Firms are actively hiring for the first time in years. For example, we have received 50 jobs during the past 3 months. Also, based on our most recent survey, 66% of Firms report that their Marketing/BD departments have increased in size, and 70% of Firms are actively filling positions in BD and Marketing.
  2. Most firms did not hire entry level candidates from 2012-2013 due to the recession, so there are very few marketing and recruiting professionals with 3-5 years of experience.

It is currently very challenging to hire great talent due to this abundance of opportunities and limited talent pool segment.  So if you have great talent on your team or even talent with great potential, hang on to them tightly!

Here are 3 things you can do keep great employees:

  1. Provide development opportunities. Ask them what kinds of projects they would like to work on and what skills they would like to expand – and then make it happen for them. Bring them with you to internal meetings and networking events where they can expand their knowledge and contacts.
  2. Offer them non-financial incentives that will enhance their value to the Firm, such as reimbursement for attending a class or professional seminar.
  3. Give them credit! Let them know how much you value them – and not just at review time. If they do something exceptionally well, make sure others know.

When we ask law firm marketers why they would consider leaving their job, the most common answer we hear is, “for career opportunities” – not money!  If you ensure your best team members are gaining career opportunities at your Firm, they are much less likely to leave!

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