Baker Mckenzie Case
Baker and McKenzie Case
What do you call a bus full of lawyers driving off of a cliff?
A good start.
1. Strategy and Human Capital Implications Baker and McKenzie (“Baker”), the largest law firm in the world by headcount, is about to implement a new talent management program referred to as “The Framework.” As a whole firm, Baker is positioned very well in the global market, as they are able to provide legal services to clients in 38 different countries. While they are currently the leader in provider inter-country legal support to client, they are slowly losing their market share as other large firms are expanding globally. Just as well, Baker is losing some clients as they are finding the firm’s services to be very expensive as compared to some of Baker’s competitors. Due to these market factors affecting the legal field, the need for recruiting and retaining highly talented professionals. “The War for Talent” comes to the forefront of many firms human capital management concerns. Traditionally, an associate who joined a law firm would rarely switch to another firm (referred to as a lateral move). However, the industry-wide trend has been that 78% of associates will transfer to a different firm within five (5) years of joining their first firms. These associates cite many reasons for leaving, but the most common were long hours, lack of meaningful assignments, and unfriendly work environments.” Just as well, associates at Baker and McKenzie may have to wait upwards of seven (7) years before their first promotion to Junior Partner, and additional five (5) years before making “Senior Partner.” This lengthy period before a promotion paired with a lack of dedicated development program can lead to a large amount of attrition of lower level associates. Attrition is not just a problem at the associate level. Industry wide, many partners are being poached by other firms. This can be due to a number of factors, but usually the deciding factor is
What do you call a bus full of lawyers driving off of a cliff?
A good start.
1. Strategy and Human Capital Implications Baker and McKenzie (“Baker”), the largest law firm in the world by headcount, is about to implement a new talent management program referred to as “The Framework.” As a whole firm, Baker is positioned very well in the global market, as they are able to provide legal services to clients in 38 different countries. While they are currently the leader in provider inter-country legal support to client, they are slowly losing their market share as other large firms are expanding globally. Just as well, Baker is losing some clients as they are finding the firm’s services to be very expensive as compared to some of Baker’s competitors. Due to these market factors affecting the legal field, the need for recruiting and retaining highly talented professionals. “The War for Talent” comes to the forefront of many firms human capital management concerns. Traditionally, an associate who joined a law firm would rarely switch to another firm (referred to as a lateral move). However, the industry-wide trend has been that 78% of associates will transfer to a different firm within five (5) years of joining their first firms. These associates cite many reasons for leaving, but the most common were long hours, lack of meaningful assignments, and unfriendly work environments.” Just as well, associates at Baker and McKenzie may have to wait upwards of seven (7) years before their first promotion to Junior Partner, and additional five (5) years before making “Senior Partner.” This lengthy period before a promotion paired with a lack of dedicated development program can lead to a large amount of attrition of lower level associates. Attrition is not just a problem at the associate level. Industry wide, many partners are being poached by other firms. This can be due to a number of factors, but usually the deciding factor is