The importance of talent at law firms cannot be overstated. It is the “supply” of what is “sold” to meet client demands. A firm’s talent is synonymous with the quality and capabilities of a firm. Firms are not selling a product or service that can be produced by a fungible group of people.
Matching individual talent to the right work environment has always been a challenge and it comes with a high cost to the legal industry.
High law firm turnover (caused in large part by hiring decisions based upon little more than the law school attended, grades in school, a short unstructured interview process and, in the case of lateral attorneys, an uncorroborated book of business) coupled with high recruiting and replacement costs create a staggering annual cost of more than $9 billion annually for the top 400 law firms annually. That’s not a typo – it’s billions. To break it down further, that is $34 million annually for a 500-attorney firm.
Our research study (see whitepaper below) discovered factors that contribute far more to good employment decisions than traditional, tangible factors. The image above lists a few of the “intangibles” that are absolutely critical to successful choices on both sides of the legal employment equation. Our solutions below leverage these critical intangibles in providing legal employment and development guidance to individuals and organizations alike.
The Right Profile offers three new solutions in the legal market to help combat the industry’s high turnover and improve the overall working environment:
The Should I Be A Lawyer Report analyzes an individual’s suitability for a career in law overall plus individual practice areas and work settings. This report is aimed at high school and undergraduate college students that want to understand if a career in law might be a good fit for them and whether they should consider law school. Visit ShouldIBeALawyer.com.
Law Students & Young Attorneys
The Career Longevity Report provides a deep analysis of the individual’s legal career propensities plus a personalized fit analysis of practice areas and work settings. This report will help steer law students and young attorneys towards high satisfaction career choices. Visit AttorneyAssessment.com.
Law Firms & Legal Departments
The Attorney Assessment System helps legal employers first identify candidates that are scientifically predicted to succeed and culturally fit with their organization and then provide the management and development tools to help them reach their full potential. Visit AttorneyAssessment.com.
The Attorney Assessment and our talent analytics engine can help you:
Develop your people
Build high performance project/matter teams
Learn more about the basis for these solutions in our white paper “Assessing Lawyer Traits & Finding a Fit for Success.”
Download the Attorney Assessment & Study White Paper:
Assessing Lawyer Traits and Finding a Fit for Success
RESULTS OF THE STUDY: One of the largest online study of lawyers ever conducted, our data shows that an individual’s personality traits and characteristics are key to one’s propensity for success and satisfaction levels in a law career including specific work settings, practice areas and even specific law firms. Download for complete details and results of the study.
For law firms, our solution allows you to systematically predict whether hiring candidates will be successful and culturally fit with your particular firm or practice group leading to more successful hires, improved retention, higher lawyer satisfaction and increased firm profits.
When you build your own talent factory, you create a permanent competitive advantage.