Hiring the right team is still the key to success

Talent will be increasingly difficult to find as this decade comes to a close. The most important key to the success of law firms will be to engage the right personnel, both attorneys and staff.

Here are some comments found to be the keys to success in a recent Cornell University study:

•    Small businesses with effective management strategies experience 22% higher revenue growth, 23% higher profit growth and a 69% reduction in employee turnover when compared to companies without employee management strategies.
•    Hire based on person-organizational fit, as opposed to only person-job fit.
•    Give employees greater discretion, trust and empowerment.
•    Nurture without emphasizing individual monetary incentives.

As noted in earlier posts, reduction in turnover will be a major cost saver, with the savings going directly to the "bottom line."


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