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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