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Competitive advantage through staff retention and loyalty: A guide for SME law firms

Competitive advantage through staff retention and loyalty: A guide for SME law firms

In May 2016, Legal Practice Management (LPM) surveyed over 100 SME legal management leaders. 36% of respondents identified 'acquiring high quality staff' as one of the greatest hurdles hampering their law firm's growth or future success.

Yet attracting quality employees, and retaining them, is key to SME law firms developing competitive advantage. Engaged and loyal team members will be more productive, take less time off sick, and ultimately become advocates of the services you offer: "Every organisations success is built on its people.  Get the people bit right and you are likely to have motivated, productive staff and a more successful business." ACAS, 2017.

What's more, losing an employee to your competitor means losing the knowledge and expertise that they have built up whilst at your firm. It also means disrupting relationships they have with your existing clients. Furthermore, finding, recruiting, and training their replacements also comes at the expense of time and money.

It's imperative for leaders within law firms to be pro-active in identifying any areas of dissatisfaction or frustration amongst employees at the earliest opportunity. But when it comes to employee retention, which areas of satisfaction should you measure and manage first?

We've identified four broad areas of importance to legal professionals.

Download our free eGuide  to discover:

  • the latest research finding into what legal professionals want and need from law firms
  • tactics for increasing well-being and job satisfaction amongst legal professionals
  • initiatives you can put in place over the short, medium, and long-term to position your law firm as an employer of choice

This eGuide will also help you to evidence your continuing competence in line with the Solicitors Regulation Authority requirements relating to 'Establishing and maintaining effective and professional relations'.

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