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HOW TO RETAIN LEGAL TALENT

With over 800,000 unfilled vacancies throughout the UK, businesses are placing significant time and effort into attracting the ideal talent.

Often, this means going beyond standard legal job boards and searching for passive candidates with specialist recruitment teams instead.

Developing a strong pipeline of potential employees is valuable. However, it’s important not to overlook an existing pool of talent that you already have access to – your current employees.

The people already in your team are eager for new opportunities and growth. Unfortunately, in the hunt for new talent, it’s easy to forget about what your existing staff members need. The last thing you want is to lose your key talent while you look to fill other gaps.

The costs of employee turnover can be anywhere up to 2.5 times your team member’s salary, depending on their role. On top of that, there’s also the costs of lost productivity, training, and decreased engagement to think about too.

Now that retaining key talent is more crucial than ever, what can your legal firm do to prevent your best people from being headhunted or beginning to look for the exit?

The following strategies will help.