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Talent Management in Law Firms

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

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Talent Management in Law Firms

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  1. Talent Management in Law Firms Charlie Keeling HR Director Field Fisher Waterhouse

  2. Your Staff You Your Competition Your Problem

  3. 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!!

  4. Accountants: Arrogant/Willing to Engage Hunt in packs Develop Solutions Embrace Business Support Accountants V Lawyers

  5. 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 Accountants V Lawyers

  6. 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”

  7. 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!

  8. Potential Impact of the Legal Services Act Big Firms get Bigger Mid-size Firms – “The Battleground” The Winners The Losers V Niche Firms – get even more niche The Commodity Market – “Tesco Law”

  9. New Resource Models – Fee Earners Talent Management Fee Earning Staff Talent Development “Fast Trackers” “Secondee Junkies” “Flexiworkers” “LevelStayers” “Homeworkers” Graduates Paralegals Legal Process Outsourcing

  10. 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

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