PwC’s annual law firm survey for 2022 found that shortage of talent was one of law firms’ top concerns. In fact, 88% of the top 100 UK firms said they were concerned that a shortage of talent would stop them meeting their ambitions.
Shortage of talent impacts law firms’ ambitions
It’s not hard to understand why a labour market squeeze frustrates business growth, but what can law firms and other professional services do about it?
Over the last 12 months or so, law firms have fought hard to win in the recruitment war; salary levels have travelled into the stratosphere for City lawyers and changes to working conditions such as home/hybrid working and more imaginative benefits have been introduced to make firms more attractive to a shrinking pool of candidates.
But by itself, this isn’t enough.
PR is more about HR than BD
I’m often told by law firms that the reason they want media coverage and good PR is primarily to help attract the best talent – BD is actually a secondary concern!
Firms are rightly sensitive to their brand’s reputation in the marketplace and the right PR can help to improve or tweak their image to make them more attractive to candidates.
Everyone wants to work at a firm which is perceived as “going places” and/or is known for the quality of its work. PR creates a buzz in the workplace and a positive image like this can be a virtuous circle: the best talent goes to work in a successful firm that then becomes more successful and attracts the best talent etc.
Reputation, reputation, reputation
Of course, the first thing anyone does to research anything these days is a Google search. Positive press coverage will reassure potential candidates. Conversely, having little or no online presence is likely to be a red flag to the younger generation of lawyers.
We’ve all winced at stories on RollonFriday and the like and in the age of social media negative news travels fast. Controlling the narrative could be the difference between hiring the people you need and frightening off talent.
In a crowded market, differentiating your firm from others is a must. But how? The culture of the firm and the lived experience of its employees are important, but these things are not easy to demonstrate to outsiders. PR can be an invaluable tool in helping get the message across, to convince others that, “this is a place you want to work”.
Retention as well as recruitment
In terms of being able to offer an attractive working environment, providing fee-earners with effective PR support (which also enhances their personal brand) should be impressive and aid not only recruitment of new talent but also assist with retention of existing staff by making them feel valued and invested in.
Conclusion
PR is about more than winning clients; it is crucial to the building of a talented workforce which can help achieve the business ambitions of your firm – isn’t that worth investing in?
Recent posts:
Is your law firm in a PR rut? How to shake things up this spring
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Legal 500 submissions: how to choose your referees
National media coverage for lawyers: is it worth the effort?
Need some help with PR? Feel free to drop me an email to arrange a 30 minute complimentary call or take a look at some of the packages I offer law firms, accountancy practices and other b2b businesses.