Strategies to Retain Top Talent
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Retaining top talent is critical to overall company success. Several studies have demonstrated that when employees are allowed to discuss any concerns they may have, businesses have higher levels of employee retention and performance (Hope, 2023). A few best strategies for retaining top talent include: Assessing employee needs Understanding employee needs is crucial. The reason many people leave their jobs is because their basic needs and ambitions are not being understood or fulfilled. In order
The legal world is just beginning to see the potential of generative AI. According to the International Legal Technology Association’s 2023 tech survey, 85% of law firms currently use generative AI tools for business tasks. However, there are several untapped sectors in law that can benefit immensely from AI, such as legal recruiting. Legal recruitment operations are outdated, imprecise, and flooded with applicants. It is a lengthy process to find candidates that stand out due
Successful companies today understand that organizational culture is not only important but crucial. Organizational culture can be described as “the shared values, beliefs, norms and behaviors that define how a company operates and interacts internally” (Proffitt, 2023). Culture has a tremendous impact on employee engagement, performance, client satisfaction, and the overall success of any business. In the legal space, organizational culture is having a larger impact on talent acquisition than ever before. When it comes
Biglaw siloes are becoming less prevalent, and here’s why. Law firms are realizing the importance of cooperation and communication across all practice groups in order to be successful. According to Heidi Gardner, a distinguished fellow at Harvard Law School and author of Smarter Collaboration, “multidisciplinary groups can generate superior business outcomes.” Incorporating diverse viewpoints allows the firm to best serve its clients by having multiple perspectives covered. At Talent Engines, we stress the importance of relationships because
BTI’s workplace and attorney satisfaction survey, found that 10.1% of attorneys report toxic culture. There appears to be a lack of connection and trust amongst attorneys in toxic cultured firms, which leads to lower retention rates and money lost. Firm culture is also shaped from the cooperation or lack thereof amongst partners. Relationships matter in the workplace because they form the basis for a company culture, ultimately impacting the firm’s level of success in the long
Corporate culture is at the heart of any organization. While establishing a thriving culture takes time, “successful companies understand that cultivating a positive culture is not only beneficial but necessary” (Dalal, 2023). While there are several components that contribute to a strong company culture, three pillars of note include: Clear core values Positive employee interactions Healthy work-life balance Having a clear set of guiding principles and core values enables employees to find more meaning and
Too much turnover at a law firm can be detrimental in the long term. Worker attrition and disengagement cost median S&P 500 companies about $282 million annually, senior partner Aaron De Smet and colleagues note (McKinsey, 2023). The solution begins with a modernized approach to legal recruiting. BigLaw recruiting is long overdue for a shift in focus from transactional relationships to more meaningful ones instead. At Talent Engines, we are revolutionizing legal recruiting with an AI powered Talent Acquisition Platform (TAP)
Life Is Relational
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At Talent Engines, we believe that life is relational. Relationships are the foundation on which any good business is built, and the strength of that foundation is based directly upon the quality of those relationships. A 2019 Gallup study found that workplaces with highly engaged employees are 20% more profitable than workplaces with disengaged and disaffected employees. Building strong relationships in the workplace begins with recruiting the right employees. Networking is becoming less and less about short-term and transactional approaches, and more about
Hiring Better in BigLaw
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The number of jobs in the U.S. legal services sector shot up last month after nearing its lowest level this year. While the count includes a range of legal workers, the majority are lawyers, Labor Department figures show (Reuters, 2023). Now is an opportune time for law firms to retain new associates. According to a 2017 NALP Update on Associate Attrition, the approximate cost of replacing an associate is between $200,000 and $500,000. Now imagine
