The legal industry is currently facing a significant challenge in the form of a shrinking talent pool. PracticeEvolve’s Legal Industry Outlook 2022/23 report highlights that over 50% of UK and 69% of Australian respondents cite attracting and retaining experienced lawyers as their primary challenge.
To attract and retain top talent, law firms are increasingly turning to technology as a critical component of their recruitment and retention strategy. According to the report, firms that prioritise modern and efficient IT systems and practice management software (PMS) are more successful in attracting and retaining talented staff. For example, over 75% of respondents from both countries reported a strong correlation between the quality of their firm’s IT systems and their ability to attract and retain top talent.
Here are some ways of how modern, up to date can help firms tackle recruitment hurdles:
- Increased productivity and efficiency: Modern technology enables lawyers to perform their work more quickly and accurately, allowing them to take on more cases and produce higher quality work. This can result in a better reputation for the firm, which in turn can attract and retain talented lawyers.
- Improved work-life balance: Technology such as remote access to work systems enables lawyers to work from anywhere at any time, making it easier to balance their work and personal life. This can help to reduce stress and burnout among lawyers, which is a significant factor in retaining experienced staff.
- Enhanced user experience: Lawyers expect modern and efficient IT systems and practice management software that can help them streamline their work processes and eliminate cumbersome administrative tasks that often impede their productivity. This can increase their satisfaction with their work and make them more likely to stay with the firm.
- Increased competitiveness: Firms that invest in modern technology have a higher chance of attracting and retaining top talent, as candidates value progressive technology and modern work processes. This can give the firm a competitive edge in the job market and enable it to attract the best talent in the industry.
However, to truly reap the benefits of technology investments, firms must invest in training programs that enhance their staff’s proficiency with the implemented technology. Shockingly, the report indicates that a staggering 84% of respondents think that their workforce’s digital literacy needs improvement.
Building a culture of digital literacy can start at the vendor selection process. When selecting a software provider, firms should evaluate what tools are available to help increase the digital competency of their users, such as online learning platforms and on-demand, self-paced courses. This can provide staff with the opportunity to upskill themselves in their own time and develop productive work processes where technology enhances their day-to-day tasks rather than making them cumbersome.
For instance, to help increase user competency, PracticeEvolve offer a range of complimentary training services such as EvolveCommunity – an online learning platform, regular training webinars, dedicated Client Success Consultants, and other tools to help boost your digital competency and get the most out of our software. Our training resources are designed to help users stay competitive and meet their business goals while making the most of PracticeEvolve’s comprehensive suite of features and functionalities.
Ultimately, the legal industry can overcome the challenge of attracting and retaining talent by considering their technology strategy. The PracticeEvolve Legal Industry Outlook 2022/23 report shows that firms investing in modern IT systems and practice management software are more successful in attracting and retaining experienced lawyers. By implementing technology, firms can increase productivity, improve work-life balance, enhance user experience, increase job satisfaction, and increase competitiveness. However, it’s not enough to simply invest in technology. Firms must also prioritise digital literacy training programs to help staff become proficient in the technology implemented.
Download the full report to learn more about how to address recruitment challenges and retain top talent in the legal industry.