Talent Development: Strategy or Human Resources?
Partners in law firms around Latin America usually enphasize how important talent development is for their firms and that adequate hiring and retention is key for their success, and they are right. Law firms are based on two strategic pillars: clients and reputation, on one hand, and talent, knowledge and skills, on the other. No firm can expect any meaningful results if those two pillars are not build on solid ground.
However, evidence shows that there is quite some distance between partners´ intentions and concerns and the daily reality in the firms. This reality indicates that talent development is normally not managed in a strategic manner from two perspectives. First, it only concerns specific partners and managers involved in human resources, but not the whole firm. In order to be strategic, all the firm has to be involved in one way or another. Secondly, many decisions are short-term and on a case-by-case basis. This provokes inconsistencies and the need to overrule prior decisions, creating confusion and loss of motivation. Talent development needs strategic planning and thinking, specially under current market challenges.
We are living in a knowledge-based economy, where talent and knowledge is far more valuable than any other asset. Companies spend fortunes making sure that they can detect and develop the right talent for their business. Law firms and other professional service firms are knowledge-intensive organizations, so they have this requirement as a survival condition. Current market circumstances only make this mandate more acute. The constant call for innovation and adaptation to change in the modern economy is a clear indication of where the road to success, and even survival, is headed.
From that perspective, and given the insufficient attention that law firms have payed to this matter, it is necessary to deal with talent development in a more comprehensive and dynamic fashion. This comprehensive model contemplates three distinct dimentions: structure, learning method and relationship. Let me explain them separately.
Structure
This portion deals with the concept of career and how professionals make progress within a certain system, however formal or informal that maybe. Normally, law firms consider this aspect as the central element of their human resources policies and dedícate efforts –sometimes significant- to offer an attractive career path that would, eventually, lead to partnership. The fact is, however, that traditional career models are being questioned in all type of organizations. The essence of these concerns are based on the long-term element of traditional careers: the possibility, although uncertain, to become a partner in an unforseeable future is simply not attractive any more for many professionals. Instead, short-term objectives more related to job-related matters that would enhance professional development become more important and attractive (I recommend reading “The Alliance” of Reid Hoffman, one of the founders of Linkedin). So careers need to be redesigned to better deal with a professional world where the institutional element is weaker than before, where careers are seen as boundaryless projects across many potential employers and where professional development –more related to the here-and-now- is key to generate motivation and sense of belonging.
Learning Method
This relates to the manner in which professionals learn and develop their skills. It is of little use to have a great career system if their is no efficient way to help lawyers learn their practice. As important as formal training may be considered –local and international master degrees, courses and other type of technical training- nothing replaces the core method: training on-the-job. The apprenticeship model is still the most effective system created for that purpose, when done well. Lawyers learn by working with others that know more than they do. In that way, they not only learn technical aspects, but also how to deal with clients and the particular ways of the firm. Coaching and mentoring are the most effective ways to structure these practices. Without making them institutional, the firms will always depend on those professionals that are naturally inclined to take those tasks and suffer those others –too many in some law firms- that don´t feel that training and nurturing professionals is part of their job.
Relationship
Every professional needs to have some kind of bond with the firm he is working. In professional firms this bond is a complex matter and depends on a variety of elements, symbols and incentives. Compensation is a key element, since it deals not only with the sum of money that professionals receive at the end of the month, but with all the messages that tag along with a remuneration system. Other symbols that are highly related with the communication style and culture of the firm exert tremendous influence on the type of relationship that professionals have with their firm. It is important to make them rational and work on them as part of the talent development process.
A comprehensive and dynamic system of talent development is key not only to create skillful professionals, but also to generate the level of motivation and commitment that is necessary to achieve high levels of performance in an ever-growing competitive market.Partners in law firms around Latin America usually enphasize how important talent development is for their firms and that adequate hiring and retention is key for their success, and they are right. Law firms are based on two strategic pillars: clients and reputation, on one hand, and talent, knowledge and skills, on the other. No firm can expect any meaningful results if those two pillars are not build on solid ground.
However, evidence shows that there is quite some distance between partners´ intentions and concerns and the daily reality in the firms. This reality indicates that talent development is normally not managed in a strategic manner from two perspectives. First, it only concerns specific partners and managers involved in human resources, but not the whole firm. In order to be strategic, all the firm has to be involved in one way or another. Secondly, many decisions are short-term and on a case-by-case basis. This provokes inconsistencies and the need to overrule prior decisions, creating confusion and loss of motivation. Talent development needs strategic planning and thinking, specially under current market challenges.
We are living in a knowledge-based economy, where talent and knowledge is far more valuable than any other asset. Companies spend fortunes making sure that they can detect and develop the right talent for their business. Law firms and other professional service firms are knowledge-intensive organizations, so they have this requirement as a survival condition. Current market circumstances only make this mandate more acute. The constant call for innovation and adaptation to change in the modern economy is a clear indication of where the road to success, and even survival, is headed.
From that perspective, and given the insufficient attention that law firms have payed to this matter, it is necessary to deal with talent development in a more comprehensive and dynamic fashion. This comprehensive model contemplates three distinct dimentions: structure, learning method and relationship. Let me explain them separately.
Structure
This portion deals with the concept of career and how professionals make progress within a certain system, however formal or informal that maybe. Normally, law firms consider this aspect as the central element of their human resources policies and dedícate efforts –sometimes significant- to offer an attractive career path that would, eventually, lead to partnership. The fact is, however, that traditional career models are being questioned in all type of organizations. The essence of these concerns are based on the long-term element of traditional careers: the possibility, although uncertain, to become a partner in an unforseeable future is simply not attractive any more for many professionals. Instead, short-term objectives more related to job-related matters that would enhance professional development become more important and attractive (I recommend reading “The Alliance” of Reid Hoffman, one of the founders of Linkedin). So careers need to be redesigned to better deal with a professional world where the institutional element is weaker than before, where careers are seen as boundaryless projects across many potential employers and where professional development –more related to the here-and-now- is key to generate motivation and sense of belonging.
Learning Method
This relates to the manner in which professionals learn and develop their skills. It is of little use to have a great career system if their is no efficient way to help lawyers learn their practice. As important as formal training may be considered –local and international master degrees, courses and other type of technical training- nothing replaces the core method: training on-the-job. The apprenticeship model is still the most effective system created for that purpose, when done well. Lawyers learn by working with others that know more than they do. In that way, they not only learn technical aspects, but also how to deal with clients and the particular ways of the firm. Coaching and mentoring are the most effective ways to structure these practices. Without making them institutional, the firms will always depend on those professionals that are naturally inclined to take those tasks and suffer those others –too many in some law firms- that don´t feel that training and nurturing professionals is part of their job.
Relationship
Every professional needs to have some kind of bond with the firm he is working. In professional firms this bond is a complex matter and depends on a variety of elements, symbols and incentives. Compensation is a key element, since it deals not only with the sum of money that professionals receive at the end of the month, but with all the messages that tag along with a remuneration system. Other symbols that are highly related with the communication style and culture of the firm exert tremendous influence on the type of relationship that professionals have with their firm. It is important to make them rational and work on them as part of the talent development process.
A comprehensive and dynamic system of talent development is key not only to create skillful professionals, but also to generate the level of motivation and commitment that is necessary to achieve high levels of performance in an ever-growing competitive market.Partners in law firms around Latin America usually enphasize how important talent development is for their firms and that adequate hiring and retention is key for their success, and they are right. Law firms are based on two strategic pillars: clients and reputation, on one hand, and talent, knowledge and skills, on the other. No firm can expect any meaningful results if those two pillars are not build on solid ground.
However, evidence shows that there is quite some distance between partners´ intentions and concerns and the daily reality in the firms. This reality indicates that talent development is normally not managed in a strategic manner from two perspectives. First, it only concerns specific partners and managers involved in human resources, but not the whole firm. In order to be strategic, all the firm has to be involved in one way or another. Secondly, many decisions are short-term and on a case-by-case basis. This provokes inconsistencies and the need to overrule prior decisions, creating confusion and loss of motivation. Talent development needs strategic planning and thinking, specially under current market challenges.
We are living in a knowledge-based economy, where talent and knowledge is far more valuable than any other asset. Companies spend fortunes making sure that they can detect and develop the right talent for their business. Law firms and other professional service firms are knowledge-intensive organizations, so they have this requirement as a survival condition. Current market circumstances only make this mandate more acute. The constant call for innovation and adaptation to change in the modern economy is a clear indication of where the road to success, and even survival, is headed.
From that perspective, and given the insufficient attention that law firms have payed to this matter, it is necessary to deal with talent development in a more comprehensive and dynamic fashion. This comprehensive model contemplates three distinct dimentions: structure, learning method and relationship. Let me explain them separately.
Structure
This portion deals with the concept of career and how professionals make progress within a certain system, however formal or informal that maybe. Normally, law firms consider this aspect as the central element of their human resources policies and dedícate efforts –sometimes significant- to offer an attractive career path that would, eventually, lead to partnership. The fact is, however, that traditional career models are being questioned in all type of organizations. The essence of these concerns are based on the long-term element of traditional careers: the possibility, although uncertain, to become a partner in an unforseeable future is simply not attractive any more for many professionals. Instead, short-term objectives more related to job-related matters that would enhance professional development become more important and attractive (I recommend reading “The Alliance” of Reid Hoffman, one of the founders of Linkedin). So careers need to be redesigned to better deal with a professional world where the institutional element is weaker than before, where careers are seen as boundaryless projects across many potential employers and where professional development –more related to the here-and-now- is key to generate motivation and sense of belonging.
Learning Method
This relates to the manner in which professionals learn and develop their skills. It is of little use to have a great career system if their is no efficient way to help lawyers learn their practice. As important as formal training may be considered –local and international master degrees, courses and other type of technical training- nothing replaces the core method: training on-the-job. The apprenticeship model is still the most effective system created for that purpose, when done well. Lawyers learn by working with others that know more than they do. In that way, they not only learn technical aspects, but also how to deal with clients and the particular ways of the firm. Coaching and mentoring are the most effective ways to structure these practices. Without making them institutional, the firms will always depend on those professionals that are naturally inclined to take those tasks and suffer those others –too many in some law firms- that don´t feel that training and nurturing professionals is part of their job.
Relationship
Every professional needs to have some kind of bond with the firm he is working. In professional firms this bond is a complex matter and depends on a variety of elements, symbols and incentives. Compensation is a key element, since it deals not only with the sum of money that professionals receive at the end of the month, but with all the messages that tag along with a remuneration system. Other symbols that are highly related with the communication style and culture of the firm exert tremendous influence on the type of relationship that professionals have with their firm. It is important to make them rational and work on them as part of the talent development process.
A comprehensive and dynamic system of talent development is key not only to create skillful professionals, but also to generate the level of motivation and commitment that is necessary to achieve high levels of performance in an ever-growing competitive market.
