Reducing Employee Turnover Rates: Law Firms & Businesses

Employee retention metrics are arguably more important than ever, especially for women-owned law firms and medium-sized businesses.


With one in five attorneys under 40 saying they want to leave the profession and a global average of engaged employees being 15%, an actionable plan needs to be implemented.



Here are three critical methods for reducing employee turnover rates:


1. Foster collaboration

A study from Humanyze recently discovered that team collaboration patterns are directly linked to reducing employee turnover rates.


Having "Open-door" communication and mentorship with direct managers, company leaders, teams, and departments, all help with boosting staff retention rates.


At a women-owned law firm or medium-sized business, the most optimal way to foster collaboration is by:

  • Utilizing cloud-based software

  • Organizing workspaces to match processes

  • Ensuring everybody knows their individual role

  • Keeping tight control over workspace management

  • Implementing group activities like events, meetings, downtime, etc.

Deciding when to delegate is the primary driving force for improving collaboration. Therefore, creating solidified and actionable workflow processes can help improve this significantly.


2. Prioritize mental health

In 2022, businesses across America should prioritize creating a mental health-focused company culture. Doing this won't only make staff feel more engaged, but it's also considered one of the best ways to reduce employee turnover.


As an employee or business owner, setting work-life boundaries is becoming increasingly difficult. Each day we strive for more but always forget about what matters the most - our minds.


This particular problem is extensive in the law industry. In 2021, 37% of lawyers reported feeling depressed. Despite this being lower than most industries, it's increased 31% since 2019.


The most effective way of steering company culture to prioritize mental health is by applying the following:

  • Make time for listening in private

  • Give employees ways to de-stress

  • Be completely transparent with employees

  • Offer benefits that support mental health (e.g., counseling)

Above is one of the best tips on how to improve employee retention rates for women-owned law firms and medium-sized businesses.


However, it doesn't only offer this. You and your employees’ mindset affect business performance. Because of this, other essential business metrics can thrive by creating a company culture around this matter.


3. Re-visit employee benefits

When strategically planning to reduce employee turnover rates, re-visiting staff benefits is highly recommended.


After reviewing a comprehensive study that surveyed 350+ companies in America about their employee benefit demands from Ben, we discovered these are the most valuable "additional extras" businesses can offer.

  • Physical health programs

  • Mental health programs

  • Employee engagement efforts

  • Childcare assistance

  • Flexible scheduling

There are many different ways to invest in a business, but employees are the most important. Therefore, consider re-visiting employee benefits to meet the latest in-demand extras.


Conclusion

With women-owned law firms and medium-sized businesses, there are abundant ways on how to improve employee retention rates. However, the above are the most superior solutions.


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