The report by Ben Lewis a few weeks ago in Asia Law that Singapore law firms are being forced to offer unique employment benefits to retain lawyers as demand outstrips supply in this booming region got me thinking and pondering whether there is possibly a better way . . . .
“At top Singapore law firm Rajah & Tann, lawyers can let off some steam in lounges equipped with Nintendo Wii game consoles, pool and foosball tables, and electric massage chairs. Around the corner at rival Drew & Napier, a “Ministry of Fun” coordinates a social calendar that, according to the firm’s Web site, includes trips to Thailand as well as “glamorous dinners and crazy parties where everyone from directors to trainees, boogie. . . . . “
Factors at play seem to be:
- Scarcity of jobs & high attrition to other countries and outside law
- Fewer law graduate recruits
- A drop of nearly 50% in 7-12 year experienced lawyers in the region
Blamed (by lawyers) are:
- Unpredictable, long hours, especially compared to in-house counsel
- Remuneration lower than near-neighbours Hong Kong (despite 20% increases in recent years)
Blamed (by firms) are:
- Unrealistic expectations (regarding work hours for instance) on the part of young lawyers
My thoughts for law firm leaders on these developments:
- The legal profession around the world has a habit of getting itself into such tangles – as firms we tend to follow one another like sheep – if one firm (especially a brand name firm), does something, like offer particular employment benefits, we feel we have to follow in an identical or similar way.
- And of course young lawyers don’t miss a trick – they use these developments to negotiate their version of the ‘ministry of fun’. And so the spiral continues.
- It is sometimes wiser to quietly take stock, bite the bullet and work out an effective people strategy for the long term, which will counter whatever the future market throws at it.
- The problem of course is that this is challenging, it takes time, and it also invariably requires changed behaviours by partners.