The Great Resignation: What Employers Can & Should Do to Keep & Attract Talent

The Great Resignation: What Employers Can & Should Do to Keep & Attract Talent

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Rising inflation coupled with tight labor markets are creating a perfect storm for all business and law firms are no exception, including Intellectual Property firms. Even though many IP firms, particularly patent firms, pay a substantial premium for new and lateral hires when compared with the broader legal market, IP firms and corporations still must compete with the prevailing view that the grass is greener elsewhere, and that another firm or company will offer the right mix of salary and quality of life.

Balancing the needs of the firm or company with the needs of employees has never been more important. The pandemic forced employers to pivot to remote work and adopt new tools to support virtual collaboration among attorneys, staff, and clients. But we now move into a post-pandemic world where many employees believe they have been just as productive from home and do not want to go back to the office. What can and should employers do?

The “great resignation” is refining not only how firms allocate resources, but how they stay competitive with prospective talent while balancing the “new normal”, whatever that ultimately winds up being.