Attracting and retaining top talent
Competition is hotting up in more ways than one and not just in the battle for clients. As the market evolves with the new structures and marketing channels there is also growing pressure on firms from a human resources perspective. Law firms not only need to attract top talent but also, increasingly, hold on to their key and experienced legal and administrative people.
There is a vital role for IT in this human side to running a law firm. Growing evidence suggests that some mid-tier firms taking on lawyers from the bigger firms find their IT systems wanting. These lawyers have a certain level of expectation from the legal systems which serve them, and assume a depth or degree of functionality which they may find is simply no longer available to them, often to the embarrassment of their new employers. A sense of going backwards may prevail which is not the best foot to set off on, after a career move. Not all criticisms, of course, will always be justifiable, especially where the lawyer has grown accustomed to using a multi-million pound, highly customised system from within say a magic circle firm, and so is simply expecting too much. However, if the lawyer finds their new firm’s IT system seriously lacking, they could very quickly be questioning whether their move was indeed a good one.
Just as important to helping attract new talent, the use of better IT systems can also help to retain your good people. The new entrants to the market will obviously be competing for the limited pool of talent available and the issue of poaching becomes more serious. Already this is a fact of life for top City firms where on occasion whole teams have been lured away. Providing people with systems which help them to perform well, meet targets and feel that they are delivering great levels of client service can only help in their retention.
Another influence on IT expectations comes from the introduction of ABS’ themselves. As the impact of the LSA unfolds, it is forcing the profession to rely on IT more to seek efficiency improvements.
Whether the ABS’ are supermarkets yet to begin offering services, or large insurance companies, (the Coop, AA and Saga are examples of those already doing so), they all have large IT budgets and almost all aspects of their operations, from business processes to client capture and marketing are IT led. This is expected to force the profession generally to rely more on IT simply to become more efficient as costs get squeezed. Equally it sets the standard for IT and mid-tier firms may well find that without a modern approach to IT, their systems could let them down when competing for new recruits or indeed in retaining them.
The human side of IT is yet another reason why firms’ needs to ensure that their systems are in tip top condition.
Accreditations
