Talent Management in Law Firms

Charlie Keeling

HR Director

Field Fisher Waterhouse

Your Staff You Your Competition

Your Problem

The Law Firm perspective • Conducted a survey in 2003/2004

• 70 of top 100 Law firms participated

• Feedback very consistent

• “Talent Management is a key strategic priority”

• “But we aren’t doing much/anything about it!”

• Met with 20 Managing or Senior Partners

• All of them “got it”

• Met with 20 HR Managers

• “Don’t’ come here telling me how to do my job”

• “I know, I’ve been telling them this for 10 years!”

• Now trying from the inside!!

Accountants V Lawyers

Accountants:

• Arrogant/Willing to Engage

• Hunt in packs

• Develop Solutions

• Embrace Business Support

Accountants V Lawyers

Accountants:

• Arrogant/Willing to Engage

• Hunt in packs

• Develop Solutions

• Embrace Business Support

Lawyers:

• Arrogant/Aloof

• Sell themselves/what they know

• Provide discrete services

• Tolerant (Suspicious?) of Business Support

Drivers for Change in Accounting (10 years ago)

• Liberalisation of their markets

• Regulation:

• Divest their Consulting practices or convert into “Advisory Services”

• Structural Change – Mergers & Acquisitions

Mega Players – “The Big 4”

“Stuck in the Middle”

The Niche Players

• War for Talent – “The Employer of Choice”

So what about the Law Firms?

Some are implementing process improvements

• Are they discrete initiatives or part of an holistic HR Strategy which “joins the dots”?

• Do we have the Hearts and Minds of the Partners to support and sponsor this?

• Will the Legal Services Act be the catalyst for change?

• We will need to attract, develop and retain different types of talent

• Do our leaders understand Alternative Business Structures?

• When the financiers get involved – EVERYTHING WILL CHANGE!

Potential Impact of the Legal Services Act

Big Firms get Bigger

Mid-size Firms – “The Battleground”

Niche Firms – get even more niche

The Commodity Market – “Tesco Law”

The Winners The LosersV

“Flexiworkers”

“Level Stayers”

Graduates

Legal Process Outsourcing

“Fast Trackers”

Fee Earning Staff

TalentManagement

Talent Development

New Resource Models – Fee Earners

Paralegals

“Secondee Junkies”

“Homeworkers”

In Summary

In the future Law Firms will need to:

• Create a Great Employer Brand

• Be proactive about Talent Management & Development

• Create Different Resource Models

• Invest in Engagement & Communication

Make all the above central to the leadership of the firm