When it comes to the law sphere, retaining great talent is a ‘perennial issue’ afflicting many legal firms, but according to Nicole Green, managing partner of Minter Ellison Sydney, the retention challenges faced can be thwarted through adopting more transparent and open communications with employees when it comes to showing them where their career progression paths lie beyond their current role and explaining how to seize them.
Ms Green outlines 3 retention factors which should be taken into consideration by law firms if they are to retain and develop good employees into stellar staff who will add great value over the long haul.
It is vital for firms to be very transparent about what opportunities they can realistically offer staff.
Law firms should be open and honest about where career progression opportunities actually lie.
A clear dialogue between managers and employees should be adopted by firms to show an employee how they can receive guidance in navigating the various stages involved in their career progression.
Retention is harder than you may think.
Budding Australian legal stars are very high in-demand in the UK and US legal sectors. This high level of interest makes such destinations very appealing to Australian lawyers who feel they may stand a better chance of building-up their career abroad.
“The reality is, the legal market is only ever so big and there is a lot of competition from in-house teams and from overseas markets where they have different price points,” explained Ms Green.
Ms Green believes retaining legal staff all boils down to ensuring they are well-aware of what career path they can expect to embark upon at their current firm if they do stay-on.
“The opportunity for them to be able to see a future beyond their current level is really important," she stated.
It is hugely important employees understand promotions are based on merit and hard-work, not only how much experience a person has racked-up over the years.
The implementation of development programs and strategic learning initiatives.
A good work environment.
A positive work culture.