Talent Retention and Succession Planning Pressures and challenges for today's small firm

2 hours verifiable CPD

Staff issues can be a major concern for small and medium sized firms. It can be frustrating to train a new hire up, and then be left short when they leave to join another practice. The sheer frequency of this is occurring more and more and is often done when the individual believes the terms are better as well as the money. So what can be done to retain talent, and in particular what can small and medium sized firms do?

During this panel session our expert speakers will discuss just this question, as well as:

• Why do trainees or even 2-3 year post-qualified lawyers seek alternative employment?
• What action do employers need to consider to retain talent?
• Firms also face losing experienced associates as well—What is the solution here?
• When should management teams in high street practices identify and train talent as the ‘heir apparent’, and what might failing to do so mean in the long term?
• In the absence of having a clear line of sight on succession issues, do you as a group revert to plan B, which is to find a merger partner?
• Realistically what do the terms of this deal/merger potentially look like as far as you and the partners in your firm are concerned?

As part of the session questions will be submitted by attendees in advance, so be prepared for an interactive and informative discussion.