In what could be the most misguided retention strategy in this highly competitive legal hiring market, some law firms are offering associates cash bonuses if they allow their employer to manage their LinkedIn accounts or if they close their LinkedIn accounts.
I almost spit out my coffee when I heard this. And I’ve heard some crazy things lately about how some law firms are trying to keep their people, including trying to remove their associate bios from their website to “hide them” from being poached (insert shocked looking face here).
This is not a long-term retention strategy by any means.
Trying to hide your people so they don’t leave is a short-sighted and fear-based response to talent management.
Many years ago I worked at a law firm that discouraged its employees from belonging to professional organizations and trade associations because they were afraid we would get poached by another firm.
Guess what? It didn’t work. Because there are other ways recruiters can find candidates plus many of the candidates are actively seeking new roles because something is lacking in their current one.
Instead focus on creating an environment where your associates (or any employees) won’t want to leave.
People aren’t leaving their jobs because companies are “stealing” them. They’re leaving because of the impact of the past 20 months.
The Great Resignation has shown that employees want more from their organizations: more flexibility, more acknowledgement and advancement, and a more diverse and equitable environment.
The thing is you don’t HAVE to lose your people. If you haven’t done it yet, now is a great time to take a hard, close look at your company culture.
Organizations that recognize this new workplace dynamic and take steps to innovate will be better positioned to retain their top talent.
So invest in your people.
Offer them compelling reasons to stay such as management and leadership positions, lateral moves within your company, above-market comp and benefits, the ability to work from home or on a hybrid schedule, tuition reimbursement and more autonomy and ownership over their work.
Your employees have a choice, so make sure they continue to choose you every day.