Recruiting talent is a challenge across all UK sectors, with the legal market being no different. With employment levels the highest they have ever been, we are seeing a huge stretch in the supply of candidates versus the demand to fill roles. Unlike periods of economic downturn, many companies still have access to capital in the wake of the pandemic. It’s therefore likely that they will continue to grow for the foreseeable future, and people will continue to move around the market.

Most recruitment is currently taking place as a result of growth and companies wanting to explore new ventures, such as business mergers, acquisitions, or moving into new geographical markets. To successfully implement this, firms need to bring the very best people onboard and, if other companies are giving candidates better opportunities, they’re going to take them, which is why we’re seeing an increase in resignations.

For law firms in particular, hiring challenges are greater due to the nature and complexity of the work that is being done on a day-to-day basis. While there is a lot of opportunity across the legal sector, accessing candidates with the level of expertise needed to fill the roles is problematic.

There are many legal disciplines where only a small handful of people in the UK can do the work at any given time, and without that niche skillset, business plans simply can’t be executed. Current conditions mean that those people are now in demand tenfold, making the recruitment process even more difficult, especially when it comes to finding elite talent.

Attracting that top one percent of talent is crucial to future-proofing law firms and challenging the way they do business. Any firm that has ever truly grown, and to an exceptional scale, has likely embraced this concept and set a high standard when it comes to the quality of the people being hired. Elite people tend to do elite things.

To successfully get that level of talent through the door, firms need to recognise that they must implement a different strategy – a good game plan is needed. How can this be achieved? By positioning the company well and having a strong value proposition, clearly articulating how the role in question intertwines with the strategy, and subsequently outlining the opportunities for career progression. Sharing success stories of people in the business to date and how they’ve progressed can really supplement this and help bring those elements to life.

Competition is fierce, so this show-and-tell element needs to be bold. The end-to-end hiring process needs to be well-considered and robust. If it’s not, you won’t attract candidates in the first instance, and even if you do, your chances of carrying and keeping them engaged throughout the process is unlikely.

If your plan is the same as it was three years ago, it’s not going to work as the conditions you’re hiring in have changed. You may have recruited a senior lawyer when candidates were easier to reach and choice wasn’t so high, but this is no longer the case. Candidates are looking at companies and asking themselves ‘do they have all of the ingredients that I am looking for to take my career forward?’ and if they don’t, they will move onto the next company.

When it comes to retaining existing top talent, quality, variety, and complexity of work are key. Law firms have to give their employees access to the best opportunities to practice law at the highest level. For those who are truly career driven, executing the most challenging projects, and dealing with the most complex pieces of work will greatly contribute towards high engagement.

Salary is a moot point – there is a premium in the market for everyone at the moment. Inflation is the highest it’s ever been so people are getting paid more. But retention tends to boil down to the quality and longevity of work. People want to look at their CV in a year or two and be proud of what they’ve achieved.

In addition, the culture needs to be exceptional. Employees must enjoy what the firm stands for in order to stay put, therefore positively positioning the business as being different to competitors in some way is an important factor to consider. The pandemic era has also introduced a more forward-thinking approach as to how firms can make hybrid formats work, which is positive from a wellbeing perspective.

Technology also plays an important role in retaining employees. The best firms tend to invest in that higher standard of tech and show a progressive attitude when considering how they can make the work their employees are doing as easy as possible. Some have even begun to explore the introduction of AI to potentially reduce transaction costs and improve the accessibility of legal advice.

When things are automated, processes are simplified and productivity increases. The firms that embrace digital transformation to help run their operation are the ones who will win and are winning already. Those who are still a bit old school from a tech perspective will unfortunately lose the race. You don’t want to be stuck with a rigid technology infrastructure – it needs to be agile to support modern working habits.

Although existing conditions are making it harder to recruit talent, there are ways that law firms can stay ahead of the curve. Businesses must create a well thought through plan in order to attract the one percent and continue to grow. Once those candidates are successfully a part of the business, retaining them will be down to the work they do. If you provide a high quality and variety of work, employees are much more likely to be loyal to your organisation.