Career Management Services
This article by George Beaton in the Australian is well worth reading: http://bit.ly/exit_plan
The change is well and truly on the way, and some of us are not only very keen to see it happen, we are already engaged in making it happen.
If you are wondering what to do or where to go with your firm, speak with me. I have several ideas and suggestions worth considering.
Some smaller firms tend to wait until it is too late to consider an exit strategy or succession plan. The reality is, no-one will buy your firm if you are not there. Harsh but true. Unlike other professional services firms where there is a high degree of continuing work, lawyers are often involved in transactional matters only, or providing advice on certain issues. Once the problem has been resolved, the client’s work is over – where is the continuity in the business?
As I mentioned above, if you are wondering what to do or where to go with your firm, speak with me. I have several ideas and suggestions worth considering.
Call me on 0407 236394. There is no cost, other than your time, for a conversation.
It’s your future and I want to help.
Candidate Experience and Relationship Management Come of Age
by Kevin Martin, Justin Bourke
The process of effective talent acquisition has evolved.
Organisations realise the need for the right people in order to execute on their strategy, and as a result, competition for talent has skyrocketed. It is no longer enough for companies to simply court active job-seekers as many of the best candidates are gainfully employed and not necessarily “on the market.”
To determine the role of and makeup of talent acquisition at top-performing companies, the Aberdeen Group surveyed 380 human resources, recruiting, and line of business executives in the months of July and August 2010. The results were very clear: among top-performing companies, the method of simply casting a line and waiting for a bite has been replaced by a proactive and strategic process that focuses on candidate experience and relationship management.
Three key performance criteria were used to distinguish Best-in-Class companies in talent acquisition. On average, these top-performing organisations achieved the following:
- 89% first-year retention of new hires over the past two years, as compared to only 68% among Laggard organisations
- 87% of new hires were the top-ranked candidate, as compared to 46% among Laggard organisations
- 6% year-over-year decrease in the time-to-fill vacant positions, as compared to an 8% increase among Laggard organisations
Competitive Maturity Assessment
Survey results show that the firms enjoying Best-in-Class performance shared several common characteristics, including:
- Hiring manager visibility into status of candidates in the recruitment process
- Clear understanding of the sources for the best quality candidates
- Corporate leadership support of the talent acquisition strategy
In addition to the specific recommendations in Chapter Three of this report, to achieve Best-in-Class performance, companies must:
- Establish or maintain a longer-term view of talent requirements irrespective of current hiring needs
- Manage talent acquisition as part of (not separate from) overall talent management
- Make the ‘experience’ of the candidates and hiring managers a top priority
See this report from Angela Priestley.
It is well worth reading. Regrettably some lawyers take their clients for granted and can forget it is the clients fees that ultimately feed the lawyers families. Can you afford to lose your clients? Good management practice (and the Pareto principle) have proven time and time again that its easier to get new work out of an existing client than it is to gain a new client.