The global pandemic kickstarted The Great Resignation in 2021, and attorney attrition remains a significant issue in 2024. Burnout, stress, and a reevaluation of career goals are still driving factors.
The Great Resignation: Strategies for Reducing Attorney Turnover in 2024
Flexibility and wellness continue to be crucial. According to the LinkedIn Global Talent Trends Report, 2023, 65% of job seekers now place work-life balance at the top of their priority list. Law firms have quickly adapted, focusing on employee wellness and remote work options.
Strategies to Attract and Retain Top Legal Talent:
- Re-Think Attorney Compensation & Benefits Packages
- Evaluate and develop compensation and benefits that meet individual needs.
- Provide perks for both in-office and remote work, such as complimentary snacks, coffee, stipends for food delivery, and home office equipment.
- Communicate job requirements and expectations clearly, with transparent advancement opportunities. Offer a detailed overview of job requirements, expectations, education, experience, compensation, and benefits.
- Create a Collaborative Work Environment
- Address attorney burnout by encouraging collaboration to strengthen internal and external relationships.
- Foster a work environment that promotes interdepartmental collaboration.
- Invest in technology to enable flexible work and enhance communication across departments and with clients.
- Celebrate diversity, inclusion, and cross-cultural collaboration.
- Mitigate Attrition: Identify Candidates that Align with The Firm’s Values
- Focus on candidates whose values and career goals align with your firm’s.
- Update the firm’s values to reflect the evolving workplace and attract the right talent.
- Offer remote or hybrid work options to support work-life balance.
- Consider pay and benefits adjustments to provide more meaningful roles within the firm.
- Address health and safety concerns proactively.
Insights for 2024
To thrive in the current business climate, law firms must continue to innovate and move away from outdated practices. Proactive management and modern strategies are essential.
“Don’t just put yourself out there; consider if leaving the firm is the best option. If unsure, consult a legal advisor to help you navigate these challenging times.” — Shari Davidson, President of On Balance Search Consultants.
Take Your Career to the Next Level
Schedule a consultation with On Balance Search Consultants for advice on advancing your career.
Source: Winning Back Your Workers — McKinsey Global Survey, June 2023
About On Balance Search Consultants
On Balance offers valuable insights and industry intelligence. Shari Davidson, President of On Balance Search Consultants, advises law firms on elevating their practice and helps rising talent transition to the right law firm. Contact us today. Call 516.731.3400 or visit our website at On Balance Search.
Please note that the content of this blog does not constitute legal advice and is intended for educational purposes only. Consult your legal counsel for specifics regarding your circumstances and the laws in your state pertaining to social media and legal restrictions.
