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For decades law firms have been observing the disturbing trend of high associate turnover. Recent studies show that lawyer attrition averages at 16% annually. This statistic is sobering considering that base pay, bonuses, and billable hours have all increased, while at the same time many firms have made great strides in improving work-life balance. In a recent study, the top reason associates listed for leaving a firm was lack of meaningful work and training.
Although provided with increased data and understanding of trends, law firms have been unable to significantly impact the rate of turnover in young associates. The solution to attract and retain talent is a commitment to fundamentally change the way that law firms (large or small) are run.
A simplificação dos hábitos financeiros e temporais dos escritórios de advocacia é um começo claro para o tipo de mudança radical e comprometida necessária para reverter a tendência de alta rotatividade de associados. A nova geração de advogados foi criada e educada durante a era digital. Ao abraçar total e completamente a tecnologia, os escritórios de advocacia não apenas aumentarão sua retenção provável, mas também aumentarão seus resultados financeiros.
A flexibilidade que a tecnologia oferece a qualquer escritório de advocacia pode ser resumida na frase “trabalhe em qualquer lugar”. Embora a ideia de trabalhar em qualquer lugar com uma conexão à Internet contribua para o equilíbrio entre vida profissional e pessoal dos jovens associados, as implicações são muito mais profundas.
Lembra-se de como o principal motivo para os associados deixarem um escritório de advocacia foi a falta de treinamento? Armazenar todos os arquivos de casos oficiais online permite edições em tempo real e acessibilidade a essas edições.
Essa acessibilidade significa que os advogados seniores podem facilmente treinar associados juniores, permitindo-lhes acompanhar os casos digitalmente. Nesse cenário, pouco tempo extra e comunicação seriam necessários de advogados experientes durante o treinamento de associados iniciantes.
O custo de impressão de uma folha de papel é em média entre dois a três centavos, incluindo tinta e uso e desgaste da impressora. No entanto, quando você considera o tempo para imprimir, ler, armazenar e repassar ou redigitalizar as informações às partes interessadas, o verdadeiro custo do papel torna-se claro.
Law firms run on billable hours. In the zero-sum game of time, no office can afford to pay anyone to duplicate and triplicate work by insisting on keeping a paper storage system. Attorney efficiency is critical. Young associates will gain the additional benefit of reduced “grunt work”, leaving their time open for valuable training opportunities.
75% of companies in an ALM study listed hacking, employee mistakes, or third-party mistakes as their top fear for data security. These threats are real, and are a barrier to many law firms who would otherwise commit to digital file storage.
Cybersecurity is an ever-evolving topic that can seem intimidating. Law firms do not have to choose flexibility, efficiency, and fiscal responsibility at the expense of security. A partnership with a certified, experienced security provider can afford you the change your law firm needs with peace of mind.
Resistance to technology is another surprising trend in law firms. Seasoned lawyers and partners know their business well, and that business has always revolved around paper. While a survey found that 100% of law firms would prefer to have digital filing be their official method, only 16% report that their official matter file is stored in a document management system. 55% of attorneys reported that they prefer to work with paper, which leads to attorneys having everything printed-- at times including their email inbox.
Legal document management software is a simple, yet powerful, way your law firm can embrace technology and quickly reap the benefits described above. An office converted to cloud storage streamlines office procedures, maintains security, increases flexibility, and creates additional opportunities for training in one move. A digital firm is one designed to attract and retain new talent.
If you are interested in the efficiency and security benefits that NetDocuments customers enjoy all over the world, schedule a demo today.
