Learn how a strong talent retention strategy can help your law firm retain skilled associates, reduce churn, and build a lasting legal team
Keeping lawyers loyal is no small claims case. In fact, without a strong talent retention strategy, Canadian law firms may find themselves losing more than just files. Here’s how to make your firm a place where lawyers choose to stay.
In this article, we’ll discuss some of the best talent retention strategies that you can use for your own law firm. You may also consider joining our upcoming event for lawyers and firms. Among the topics to be discussed are effective ways to retain the best legal talent walking through your doors.
A talent retention strategy is a law firm’s own program – or a series of activities – that aims to prevent or reduce resignations. At the same time, it considers the firm’s goals, resources, and existing set-up, so that it will be beneficial to the firm in the long term.
While these strategies are common in private workplaces, law firms are starting to implement their own. This is because while firms acknowledge that people come and go, a recent spike in resignations may be a red flag they have to address.
Here’s a webinar that you may be interested in. It talks about the turnover statistics and how law firms can reduce law firm turnover. You can gather insights to help you in creating your own talent retention strategy:
If you’re interested in the different ways to keep top talent, you’ll want to join the Canadian Legal Summit. On the agenda will be talent retention strategies, including discussions on what’s driving the next generation of lawyers.
Below is a simple process you can follow in creating your firm’s own talent retention strategy (or to update your existing program):
Do an assessment: first, you must know where your firm stands in keeping lawyers and employees over the years, the rate of recent turnover, and the reasons why people leave your firm
Ask for suggestions: you can ask current employees and lawyers—no matter the position—about not only what keeps them from leaving, but also what needs to improve in your current workplace
Engage stakeholders: when planning the strategies to be implemented, engage most management team as much as possible, especially for larger firms; as to smaller firms, everyone pitching in would be good idea
Evaluate the strategies: after a certain period (e.g. a quarter or a year), go back to these strategies, and again, ask for comments from those who engaged in them and review how to improve them
Here are some talent retention strategies that you can consider for your law firm:
Fair wage for fair work: giving competitive compensation that is commensurate with the work the employees do
Work-life balance: ensuring that employees can also live out their lives outside the office hours
Recognition for hard work: not only compensating employees financially, but also on other aspects of employment
Professional development: giving the employees space to work on their career goals, other than for the firm’s advantage
Retirement policy and plans: to provide a sense of stability if workers want to stay in the firm for long
These talent retention strategies may not only apply to lawyers in the firm, but also to other support staff, including paralegals or those who work in marketing or finance. We’ll discuss these strategies below:
Let’s not beat behind the bush—giving lawyers and firm employees their fair share (or even more) for the work they’ve done is the best talent retention strategy for law firms.
According to a 2022 survey on employee turnover:
86 percent of employers are offering high wages to new candidates
81 percent of employers are giving out signing bonuses to attract more workers
While this may seem far-fetched in the legal field, law firms may consider these options if they want to retain top talents in the long run.
Of course, having a large pay is not a guarantee that employees will never leave. It has to be coupled with other talent retention strategies, which we will also discuss below.
The recent emphasis on maintaining good mental health—along with physical health, of course—resulted in employees now seeking workplaces that have a work-life balance. A 2022 survey on lawyers under 40 found that:
a lack of work-life balance is a concern for more than 60 percent of young lawyers
this concern on work-life balance was greatest for lawyers who are 25 and under (71 percent), female lawyers (66 percent), and solicitors (68 percent)
This concern is also tied up with how toxic workplaces are, which can affect a worker’s 5pm-to-8am life. When left unchecked, all of this will surely lead to higher turnovers, frustrating not just the workers leaving, but also the firm.
So, how can law firms ensure a work-life balance? Here are few suggestions:
check the firm’s culture: part of the firm’s evaluation when it creates its own talent retention strategy is to review the organizational culture, since admittedly, a culture that celebrates a work-life balance is where workers will certainly stay
allowing flexible work: while flexible work is hard to implement in the legal profession, there are instances where flexible arrangements can work, and is almost certainly a must for some employees (such as parents)
health and wellness program: both leadership and workers in the firm should be educated about mental health, and for the firm to have a clear policy or program to address mental health and wellbeing issues among its workers
regular meetings and gatherings: this can include firm meetings and social gatherings, which can help firm members talk to one another, reach out to a co-worker who may need help, and diffuse any animosity within the firm
To give you an idea on how to help lawyer-parents within your firm, watch this video which discusses balance and retention strategies for law firms:
Visit our Events page for updates on future activities that can help you in your legal practice and grow your legal practice.
Whether it be a personal tap in the back or through a social media tag, having a consistent recognition program for employees is another practical talent retention strategy for law firms. It is said that lawyers and law firms caring for one another is a leadership strategy that can help reduce turnover at law firms.
As such, it wouldn’t hurt to pursue ways that recognize every worker’s hard work and milestones, no matter how small or big it may seem.
Although recognition can result in lawyers having a sense of meaning and purpose, firms can elevate this. To create this deeper sense, firms must know what excites their workers, what motivates them, or what they’re passionate about. Then, these energies can be directed into something beneficial for the law firm.
Apart from the continuing professional development requirements, firms may offer other professional development programs as part of their talent retention strategy. By aligning a lawyer’s career goals with the firm’s long-term plans, two goals are hit in one: lower the chances of lawyer resignations, while ensuring the future of the firm.
Through their own initiated programs, firms can keep lawyers who are eager to learn, put themselves out there, and bring some valuable lessons back for the firm’s use.
Here are other ways to ensure that lawyers flourish once they're in the firm:
assign new lawyers to teams handling a matter, where they can both contribute into and learn from senior members
create career development plans during the first engagement with new lawyers; these can be reviewed every evaluation period
engaging in legal technologies, such as a legal practice management software, which can help lawyers be more efficient with their daily tasks
slowly introduce juniors into leadership opportunities that are aligned with their personal career goals
Let’s face it: firms will be handling employees of different ages all at the same time. Usually, you would have boomers and Gen X as your senior and top management, the millennials clinging in between, and the Gen Zs as your new talents.
As stressful as it may look, firms can shift this situation as an opportunity for a talent retention strategy:
transfer of legal knowledge: by pairing seniors and juniors in a team, the young ones would have a chance to learn about how things are done in the firm, including the things law schools don’t teach about how to survive in the legal field
feedbacking between seniors and juniors: one good strategy is to establish a feedback method or mentorship program between senior lawyers and those who are just starting their legal career
addressing the tech vacuum: as older generations may have a difficult time in adjusting to the legal tech boom happening in the firm, juniors can enter the picture and help them along the way
for client retention, too: in preparation for a senior’s retirement or as part of the firm succession plan, juniors would be learning how to handle long-time clients straight from the ones who handled them
All these are done with the goal in mind: by keeping a culture that is easy for everyone, top talents will surely stay within the firm, no matter how hostile the outside world is.
As a manifestation that the firm wants lawyers to stay for longer years, a good retirement policy and plans is another talent retention strategy to consider. Another “plan” that is important to have (and sometimes required by law societies) is a law firm succession plan.
This can work complementarily with a firm’s talent retention strategy; when turnover is inevitable, at least there’s a succession plan to rely on.
Here are other benefits and strategies that you can use to lower the attrition rate in your firm:
clear onboarding program: a good process when onboarding new talent can set a great mood in the new relationship, provide clear expectations and career goals, and help the newbie feel welcomed
other insurance: while Canadian lawyers are required to have their own professional liability insurance, law firms can go way above and beyond for their employees by providing other types of coverage
enhanced leaves: aside from the usual vacation and sick leave, a law firm’s talent retention strategy can include other types of leaves, including mental health leave, sabbatical leave, etc.
Lawyers aren’t just chasing wins in court—they’re also chasing balance, growth, and respect. This is why a strong talent retention strategy matters more than ever for law firms in Canada. Although not all the strategies above may be applicable to your workplace, a nicely knit employment and retention plan will help your firm reduce resignations and turnover.
Bookmark our Practice Areas page for more articles on Canadian law and other ideas on creating your own talent retention strategy.
