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Exchange • Winter 2013 > Industry Trends > Does Your Firm Need a Talent Strategy?

Does Your Firm Need a Talent Strategy?

A firm is only as good as its people. Managing that talent calls for a strategy that goes beyond just staffing and professional development, according to Law Vision Insights. What is needed is a talent strategy where talent refers to every individual employed at a law firm—not just the lawyers.

"Talent strategy is deliberately choosing a set of activities that align a firm's most valuable resource—it's people—to create a competitive advantage," writes Jessa M. Baker in "Law Firm Talent Strategy: 20 Questions Law Firm Leaders Need to Ask in 2013."

The questions cover the following categories:

  • Recruitment, hiring and onboarding
  • Staffing
  • Performance management
  • Professional development
  • Partnership
  • Succession planning
  • Retention, motivation and engagement

Intended as a first step toward building a comprehensive plan, the questions focus on assessing your firm's current and future needs. A few examples:

  • Has the firm conducted a sufficient analysis of internal human capital?
  • Does the firm have an accurate assessment of future client demand and the talent required to meet those needs?
  • Does the firm have realistic and challenging performance goals?
  • Does  the firm examine, understand and deliver, within reason, what lawyers want from their firm and work environment?

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