“I’ve decided to stay at my current firm.”
As a search consultant, I have heard this statement many times - but never more frequently than during the past year.
Why? Because most law firms understand the talent war has made hiring more challenging than ever. Firms have realized they need to do more to keep their valued employees, because if they leave, the time and resources spent to replace them can be enormous.
Counteroffers of the past consisted of a salary raise to meet or exceed the competing offer.
But times have changed.
Today’s counteroffers consist of more than just money: promotion/title change, flexibility with schedule or 100% remote work, the removal of responsibilities the candidate dislikes, and providing additional support (which can include hiring direct reports). I have also witnessed firms create new positions for employees in order to entice them to stay.
Here are some helpful tips on how law firms can mitigate the risk of losing a candidate to a counteroffer. It all starts with the interview process:
1. Hiring managers need to communicate why they chose to work at the firm and what makes the culture attractive.
2. They should articulate how important this position is to their team and the growth opportunities available.
3. They may also share examples of how this position will make an impact on the team and organization as a whole.
4. If lawyers are part of the interview process, it is important to involve the ones who are excited about the role and what this person will bring to the table. They should have a strong understanding of the position and a consistent message on what the expectations are.
5. It is important to clearly explain the onboarding process so candidates know what to expect in the first 30 days. This can include any team support and training they will receive to make sure they are set up for success.
6. If possible, schedule in-person interviews. Even if it’s at the end of the interview process, this will help you gauge the candidate’s interest level and develop a stronger connection.
When counseling business of law professionals, I try to get to the root of where they want to go in their career, and what is motivating them to change their current situation.
Ideally, they would have addressed these topics with their current employer before deciding to interview elsewhere, but it doesn’t always happen that way.
Regardless, candidates need to feel a true connection to the interviewers and see the possibilities that lie ahead. Otherwise, they will be convinced to stay at their current firm.
-Jason Caramanico
Jason Caramanico is an executive search consultant placing marketing, sales, operations, and finance professionals in the legal industry. He advises law firms of all sizes on how to attract and retain top talent. Connect with Jason on LinkedIn or email jason.caramanico@celeritasinc.com.