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All lawyers want to be wanted and valued by their firms. According to the famous psychologist, Abraham Maslow, everyone needs to understand how they fit in and have a sense of belonging. It has become apparent that tomorrow's legal talent requires even more hand-holding than previous generations because the "just do it" attitude, does not work. They want to understand why and what's the payoff of their efforts. By creating a firm culture that addresses these concerns you will heighten your firm's ability to retain precious talent. Following are 10 strategies your firm can implement.
By communicating with your talent, providing the proper tools and giving opportunities to grow along the way you are more likely to retain your attorneys so they will become the next generation of partners and leaders at your firm.
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Dr. Sharon Meit Abrahams, a member of the Board of Editors of our LJN sibling Marketing the Law Firm, is a legal talent expert helping lawyers improve their performance, productivity and profitability through success coaching and interactive workshops. For over 25 years Dr. Abrahams has designed, implemented and managed every aspect lawyer development from their first day through retirement. She can be reached at [email protected].
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In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.
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To gauge the level of risk and uncover potential gaps, compliance and privacy leaders should collaborate to consider how often they are monitoring third parties, what intelligence they are gathering with and about their partners and vendors, and whether their risk management practices have been diminished due to cost and resource constraints.