The ‘Great Resignation’ is upon us. According to some recent research from Microsoft, more than 40% of workers around the world are considering quitting jobs or changing their professions. This could be positive for the legal sector, an opportunity for fresh blood to enter the industry. However, it could also be detrimental to talent retention if law firms don’t play their cards right.
The global pandemic has given law firm employees a taste of hybrid working and a better work/life balance. Now the genie is out of the bottle. Law firms will need to ensure flexible working isn’t simply a one-off but rather a permanent part of their employment strategy. This means doubling down on technology investments and putting in the right processes to enhance working practices and employee wellbeing.
It’s therefore extremely positive to see that many leaders recognise the importance of investing in technology such as automation to increase productivity, making the lives of legal professionals easier. As the research results show, the leading reason for more automation is to help make legal work quicker or more efficient. However, it’s also clear from the research that more can be to be done from a technology and user adoption standpoint to make hybrid working a success. For example, client relationship management, intranet/KM systems, e-signing and internal project management/portal-based collaboration were all highlighted as top areas where law firms now need to drive up use across the business. This highlights that the legal sector is still very much at the start of its hybrid-working journey as further efficiency and productivity gains are being left on the table.
Investing in technology to support hybrid working will now play a vital role in ensuring that talent can work productively from any location. With legal business leaders estimating people will be in the office just two days a week on average in this new working world, firms must ensure that those employees are equipped with the right tools to be able to work effectively. Those that don’t risk watching their talent walk out the door.