As Talent War Escalates, Law Firms Fear Business Pros Getting Poached | The American Lawyer - The American Lawyer

What You Need to Know

• Law firm business leaders in a recent survey said staff poaching is among the top risks to firm profitability.
• High demand and high turnover, especially during the pandemic, are among the dynamics that've forced firms to compete more for staff.
• Pricing analysts, C-suite and paraprofessionals were cited by industry analysts as staffers in particularly high demand.

Law firms aren’t just fighting for talented lawyers. A duel for talented nonattorney staff members—from secretaries and litigation support professionals to financial analysts and strategic C-suite leaders—is also a top concern, according to firm leaders and legal industry observers.

A recent survey of law firm business professionals pegged “staff poaching” as the second-highest threat to firm profitability, amid talent-related risks such as lawyer recruiting and associate salary increases. Those concerns have become especially top-of-mind this year due to skyrocketing demand in the legal industry as well as unprecedented levels of turnover across the labor market.

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source: https://www.law.com/americanlawyer/2021/11/23/as-talent-war-escalates-law-firms-fear-business-pros-getting-poached/

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