We’ve shared about the importance of attracting top legal technology talent to your firm. Not only do legal technology professionals ensure law firms remain secure, competitive, and efficient—they’ve completely revolutionized the legal industry, generating an ever-increasing demand for “digital lawyers” and “eDiscovery” experts.
But what happens after you fill your legal technology roles? In today’s competitive market, retention is just as—if not more—important as making a smart hire. The following five recommendations will help your firm avoid the losses associated with filling an open position so you can instead focus your energy on taking advantage of the latest legal technology trends to serve your clients.
1. Develop and Promote Flexible Working Hours
Work-life balance perks are among the top concerns of technology candidates in the legal market today. They want the option to work remotely—at least part time—to flex their hours, and to take sick and family leave, among other benefits. If you don’t already have a generous telecommuting policy, consider implementing one to stay competitive with other firms. If you do, ensure your employees feel empowered to take advantage of your system and that there aren’t any unwritten cultural norms or biases holding them back.
We’re all about seeking win-win solutions at ESP Legal (we even put it in our values statement), so let us be the first to remind you: offering the option to work remotely is as beneficial for your firm as it is for your technology professionals. Take advantage of this effective, easy-to-implement benefit.
2. Train and Mentor Your Team
Paid training and education ranked as the number one most desirable benefit in our 2019 Salary Guide market insights—even above flexible working hours. Research has shown that the opportunity to grow and develop is an especially big driver for millennials. And a recent survey revealed that 34% of tech pros looking for new jobs in 2019 have been motivated primarily by a desire for a higher degree of responsibility. The same survey also revealed there is a 31% gap between the number of tech pros who rank “training and education” as an important benefit and the number who actually receive this benefit—which means this is a major area of opportunity where your firm can stand out from the rest.
As you look for ways to raise up your employees, especially consider how you are empowering and encouraging your female technology professionals to claim ownership over their positions and grow to become leaders in your technology department. Intentionally providing opportunities for diverse voices to be heard contributes to the overall health and innovation of your IT team—another one of those win-win solutions.
3. Keep Compensation Competitive
The Association of Legal Administrators and the International Legal Technology Association (ILTA) are great resources for detailed compensation guidelines, and ESP Legal also publishes a free annual salary guide revealing average technology, litigation support, and attorney compensation trends. While not all retention-promoting benefits are strictly compensatory (see numbers 2 and 4 on this list), you’ll want to ensure that, at the very least, you are paying your legal technology employees a fair wage—especially considering that annual wage increases have become an expectation in today’s hot legal technology job market.
4. Focus on Medical Benefits and Other Perks
The cost of medical coverage can vary drastically from one firm to the next and can be a big factor for job seekers. In fact, 85% of technology professions list health insurance as one of their two most important benefits, according to a 2019 survey. With rising medical costs, it’s important to compare your company’s out-of-pocket insurance premium with the out-of-pocket expenses generated by some of your competitors’ medical plans. Once you’re confident your firm is offering a solid benefit, leverage your medical plan and promote it to your technology professionals in a way that helps them see more tangibly the cost savings afforded by your policy.
As an example, if the average law firm’s employees were paying $550 per paycheck or $1100 a month for medical coverage and yours costs $500 a month, this results in a $600 monthly savings or $7,200 a year in added benefits. Make sure your legal technology pros are aware of these kinds of numbers.
5. Outsource Your Hiring
One of the biggest reasons law firms lose technology employees boils down to bad hiring decisions. Luckily, this is also one of the most avoidable factors crushing your retention rates. When you solicit the help of a trusted recruitment firm like ESP Legal, you see and interview only those candidates who are going to add value to your team in the long run. We consider things like the alignment of compensatory expectations with what your firm is able to offer, culture fit, and how the long-term opportunities provided by your company might align with a candidate’s aspirations.
Plus, when you work with a recruitment firm, you save time and speed up the hiring process, which puts less burden on the rest of your technology department to make up for the lost productivity that results from the open position—thus helping you avoid the pitfalls of losing excellent legal technology professionals to burnout.
When you empower your legal technology employees to succeed, you directly impact your firm’s ability to thrive in today’s fast-paced and ever-evolving legal landscape. By staying competitive and aware of industry trends, you’ll ensure your firm’s many positive qualities and fun culture shine through and keep your technology professionals committed to succeeding as a part of your team.
If you’re looking for more personalized advice, our ESP Legal account managers would be thrilled to discuss your unique retention challenges and help you find the best solutions.