Technology can’t replace lawyers; however, today, more than ever, it plays a vital role in how firms find and retain new talent entering the legal space. According to a recent report by the NALP Foundation, associate attrition rates and hiring levels at law firms fell for the second year in a row in 2023, with some of the top factors being the inability to meet work quality and productivity standards. The influx of Millennial and Gen-Z legal professionals, also referred to as next-gen lawyers, are eager to leverage cutting-edge technology to increase productivity and manage cases more efficiently to drive businesses forward.
Not surprisingly, a study shows that millennials will account for 75% of legal department employees by 2025, making up a majority of the workforce. Law firms that want to find top talent must be adaptable and willing to embrace legal tech advancements for their Millennial and Gen-Z lawyers or risk high turnover. Here are six ways that modern law firms can evolve their operations to support this new wave of lawyers.
Prioritize cloud security.
Although some law firms have been slow to adopt cloud technology, modern firms are rapidly recognizing the importance and embracing the benefits of cloud security. Firms that aim to future-proof their practices are relying on technology for document signing, intake, billing and other legal tasks to be done digitally in a secure and reliable environment. With this shift, law firms should have the proper data protection, document storage and disaster recovery in place for lawyers to access case information from anywhere without having to worry about whether data privacy and compliance are upheld. This will be paramount for supporting next-gen lawyers working from their preferred work environments.
Offer flexible work models.
Flexible work arrangements are a driving force for next-gen lawyers. Millennials and Gen-Z tend to place a higher value on hybrid and remote workplaces that give them the ability to work in their preferred way and control their schedules, fostering a healthy work-life balance. Leveraging cloud technology for lawyers to access case information without interruption from anywhere, regardless of their physical location and devices, will be necessary for modern legal practices to keep up with these workplace expectations.
Utilize real-time collaboration tools.
This new generation of lawyers seeks quick feedback from their peers and collaborative environments that enable a more effective way of working a case. Additionally, clients today expect fast communication and transparency throughout each stage of a case lifecycle. For law firms that stick to traditional methods, this means those outdated systems that provide a poor user experience and lack of functionality will no longer cut it for most legal professionals entering the space. Integrate tools for real-time messaging and video communication to address the need for connectivity and foster seamless interaction among your team and clients.
Invest in time-saving technology.
Incoming lawyers want to leverage technology that allows them to keep up with demands and complete case work as efficiently as possible. They are not interested in spending hours of time on busy work when they could be focusing on their bottom line. Investing in user-friendly technology for lawyers to streamline their processes will be a top factor in retaining the next generation of lawyers. Consider incorporating a platform that enhances efficiency and reduces errors through document automation tools, time-tracking capabilities and reporting, enabling lawyers to manage tasks and deadlines.
Embrace AI innovations.
Seeing that as Millennials and Gen-Z alike are eager to keep up with the latest trends and tech innovations, the rapid growth of AI across legal tech is sure to become a topic of conversation amongst new lawyers entering your firm. Law firms looking to scale their practice and remain competitive in an ever-changing market will need to acknowledge AI as a key factor in this space.
In fact, according to a recent Gartner report, it is predicted that the legal tech market will hit $50 billion by 2027 as a result of GenAI cloud technology. The adoption of AI automation in legal software can be looked at as an opportunity for law firms to support the need for cutting-edge technology among new lawyers.
Provide growth opportunities.
In the age of artificial intelligence, new jobs are being created specifically for lawyers with expertise leveraging AI for tasks like document review and legal research. Possessing AI skills will be a valuable advantage for the next generation of lawyers. Investing in ongoing training and professional development for next-gen lawyers to keep up with industry trends offers an additional mechanism for law firms to help boost lawyer retention and stand out in today’s competitive market.
Next-gen lawyers are here. Is your firm ready?
When law firms adopt new technology, they should consider several key factors to ensure a smooth transition and successful integration. First, they need to evaluate their firm's specific needs and workflows to select platforms that align with their operational priorities. Security and compliance should be at the forefront, especially with cloud-based solutions, ensuring data privacy and protection. Firms should prioritize user-friendly interfaces and robust customer support for easy use and swift problem resolution. Moreover, scalability is essential; the chosen technology should be capable of growing with the firm's needs.
Common stumbling blocks during adoption include resistance to change from staff, potential data migration issues and initial disruption to workflows. To mitigate these, firms should invest in comprehensive training programs, phased implementation plans, and ongoing support to help staff adapt to new tools, ultimately fostering a culture of innovation and continuous improvement.
Overall, understanding employee expectations and being able to evolve processes and technology to address these new demands for innovation and flexibility in the workplace will give firms a leg up on the competition.
Law firms that are quick to recognize the need to mature their business model through AI adoption and technological advancements will ultimately attract and retain top talent as they arrive in the legal industry.
Written by Tracy Price, originally published on Forbes.