Are you frustrated with the length of time it takes to fill critical vacancies?
I have heard this scenario many times when speaking to senior partners. ”One of our rising stars has decided to move on and we now must find a replacement. We have advertised the vacancy on our website and on social media but we are not happy with the quality of CV’s received.”
I am sure you appreciate the consequences of this because without swift resolution, your team must take up the extra workload which may cause tension and similarly client care may also suffer.
I believe that finding, recruiting, and inducting committed talent needs new tools because the recruitment process as we know it is outdated and no longer fit for purpose.
The post pandemic shift
Whether we like it or not the pandemic has changed the way people think about work and their careers. People expect flexibility[1], 60% of people are quiet quitting and only 23% are engaged[2]. In addition, the consultancy model is growing three times faster than traditional law firm structure[3] and they can offer lawyers 70% - 80% of what they bill. Hence, competing in today’s market has never been more challenging but with a different and better strategy you can still attract quality talent.
Most recruitment practices are reactive which follows this process. The problem with this is that you are largely reaching actively job seeking candidates. This is a much smaller proportion of the market when compared with passive candidates i.e. those who are in a job but open to opportunities.
Instead, imagine marketing your firm to both active and passive candidates all year round, building reputation, presence, and trust with them ahead of your competitors. This is what developing an employer value proposition (EVP) can give you and more.
What is an employer value proposition (EVP)?
Your EVP tells current and future employees what they can expect working with you and, critically, why that is different from working with someone else. It comprises salary, benefits, quality of work, values, culture etc. The EVP you develop is the narrative which then becomes your firm’s reputation, its employer brand and reflects your firm’s values and culture.
With the employer brand coupled with a proactive approach to recruitment you have a fresh approach to how you attract and retain talent in the new business environment.
How to develop your employer brand
Step 1 - Assess your values and culture through behaviours and stories
When commencing your assessment, consider some of the most important questions a candidate is trying to ascertain in an interview. These include, what is it like to work here? What can I contribute? Will I fit in? How will my career develop? How you answer these questions will determine whether a candidate becomes an employee or not. Candidates are looking for purpose, impact and belonging therefore your values and culture are critical part of how you are perceived.
What are your values? The things that you believe are important in the way you live and work.
Culture can be described as, ‘the way we work around here.’ Your values are demonstrated in your behaviours and help shape your culture therefore they must be lived and breathed. They determine your employee experience and are reflected in what is spoken about and shared internally and externally.
Once complete, your assessment will provide rich information on what makes your firm different and a special place to work and will be central to your communications including job descriptions. No more bullet points of duties, but instead share the story of how your environment can help the right candidate thrive.
Step 2 - Build talent pools
A talent pool is a database of job candidates who have the potential to meet a firm’s immediate and long-term needs. Once you agree the firm’s goals as they relate to expected recruitment needs over the next several years you can engage the pool with content to build credibility and trust. I have seen firms build talent pools by running networking events and with some creative thinking you can have your own unique way of building yours.
Step 3 - Track and measure KPI’s
If it’s not being measured then it won’t get done. A few important KPI’s you should monitor are the number of applicants per job, offer/acceptance rate, cost per hire and retention rate.
Conclusion
The time to developing your employer brand is now. The power to unlock it is within your hands but requires commitment and consistency and some creative thinking. Once in place you will have an employer brand that stands out and compels the right people to apply for the best return on investment.
[1] https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/ishybridworkingheretostay/2022-05-23
[2] https://www.gallup.com/workplace/349484/state-of-the-global-workplace.aspx#ite-506897
[3] https://trademarklawyermagazine.com/uk-legal-consultants-growing-at-three-times-the-rate-of-law-firms/
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