Law Firms Struggle to Find and Retain Talent Amid Industry-Wide Recruitment Challenges
Why Talent Acquisition in Law Firms Remains A Top Concern
Recruitment woes are prevalent across all industries and business sizes, and for law firms, even with various qualification routes and differing specialisms and roles, finding and retaining the right talent to meet their needs is of top concern, and often even more so for smaller practices.
But what are some of the top reasons for recruitment struggles in law firms?
Increased Competition and Changing Attitudes
The legal industry is facing talent acquisition challenges due to several factors, including changes in working practices and evolving expectations of the workforce from younger generations. This is widening the talent acquisition gap between larger firms and smaller practices who can offer differing benefits and salaries. In a candidate-driven employment market, smaller firms may find it harder to compete for top candidates and attract the best talent.
However, with a growing number of qualification routes and a steady stream of graduates, the talent pool is expanding, offering more opportunities to find suitable candidates. Firms should also look to emerging client trends to ensure they are keeping pace with consumer demand and service expectations.
Flexible working patterns
The demand for hybrid and flexible working patterns has also increased within existing workforces. Firms should be mindful of this in future recruitment endeavours and consider what flexible working options they can offer to all employees. While remote working is not suitable in all situations, firms that offer flexible and hybrid working environments are more likely to attract new talent and this will go a long way in retaining expertise within the firm.
Recruitment Process
Unless firms have a dedicated in-house HR department, it can be challenging to find the time to create job descriptions, find the right platforms to advertise open positions, review each candidate’s resume, and make hiring decisions, even if they come via a recruitment agency.
In a competitive and fast-moving job market, firms must streamline their recruitment process and follow some direct actions:
- Be prepared to act quickly when they find the right candidate
- Seek external expertise to support and advise them throughout the recruitment process
- Explore alternative recruitment strategies
- Consider specialised legal recruiters who can help firms source suitable candidates and provide appropriate salary levels
SRA Obligations
Continuing Competence
In its most recent report, areas of concern still remain in regard to some solicitors who could not provide assurances that they were taking steps to keep their knowledge and skills up to date.
Challenges discovered included:
- Some solicitors were unaware of their professional obligations or risks relating to their area of practice.
- Many solicitors relied heavily on their compliance officer for legal practice (COLP) and compliance teams to guide them in their professional obligations and to access regulatory information.
- The SRA also found evidence of behaviours relating to professional obligations that could contribute to a solicitor’s lack of competence, including:
- It was discovered there is concerning lack of awareness and application of professional obligations, the regulator’s warning notices and guidance among some solicitors. The SRA were told it was difficult to access this information within their firm or from the SRA website. The review also discovered that most solicitors preferred the SRA to email where there may be information relevant to them.
- Some solicitors are failing to regularly reflect on their professional obligations and ethical competence when considering how they maintain their competence.
- How solicitors evidence maintaining their competence: In many cases, the SRA found some excellent examples of how solicitors have evidenced that they are maintaining their competence. However, for some solicitors, it was difficult to establish if and how they were maintaining their competence. A small number of solicitors could not provide any evidence that they were keeping their knowledge and skills up to date.
The SRA has made it clear that ensuring that solicitors meet these obligations remains a core focus over the next 12 months, so firms should ensure that all new hires and existing teams meet these requirements. Failure to meet regulatory requirements poses significant risks to firms, leading to potential investigations or sanctions from regulators.
Sessions for Solicitors – Stay Informed
PIB Insurance Brokers hosts regular Sessions for Solicitors which are free to attend. These also provide an opportunity for firms to address their concerns regarding recruitment or regulatory requirements and professional indemnity insurance obligations.