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Talent Retention: Making the Legal Profession Attractive - Coggle Diagram
Talent Retention: Making the Legal Profession Attractive
Reasons for Attrition
Autonomy
Flexibility in how one works
Quality of Life
Flexibility in how one works
Remote Work
Improve work-life balance through through improved technology and software
Equitable Work Distribution
Better Work
Reduction of grunge work
Better Usage of Technology
Re-evaluate the adminstrative work done by lawyers
Automate
Delegate
Outsource
Pandemic
Additional work on transactions side
Loss of near and dear ones
Increasing stress on mental wellbeing
No hands-on training and interacction with team/mentors/partners
Proximity Bias
Gender
Women report lower satisfaction at work
There is an exodus at some level (intake numbers and partnership numbers for women have stark delta)
More number of women plan to quit in 1-2 years
Lesser number of women expect to make partner
Race & Ethinicity
Solutions Firms have employed
Increased Compensation
Preventive Approaches
pulling associate biographies from their websites
compensation to associates for staying off linkedin
openly discouraging networking and bar association involvement
Rethinking Evaluation Metrics
Training and Professional Development
Closer Connection to Community
Innovate Hiring
Setting the right expectations
Innovating Lateral Hiring
What Young Talent Values
Traditional Factors
Compensation and Bonuses
Assigned Practice Groups
Corporate Associates more satisfied than litigation assocaites (Yet litigation draws one-third more associates than corporate; go figure)
Partnership Prospects
Recent Factors
Balance
Mental Wellbeing
Leisure
Time for Non-work activities
Family - Growing number of mothers and more participation by fathers
The Long Game - less enthusiam for grinding in formative years