Charlie Keeling
Plenary 4: Managing your Talent
Charlie Keeling
Global HR Director
Clyde & Co
  His background
    28 years in professional services
    PW, PwC, CapCo
    Had own Talent Management consultancy
    Ran a survey in 2003 for top 100 law firms
    HRD then COO at Field Fisher Waterhouse
    Now Global HRD at Clyde & Co. in Sep-12
      £300m turnover
      300 Partners
      Looking to grow internationally
  The Talent Backdrop
    Competition wants to poach our talent
    Law firms operate in two markets
      Clients
        Same excellent technical advice
        Want it more cost effective
        Want to control the delivery process
        Expect LPO
        Different pricing models
          Fixed fees
          Success fees
          Contingent fees
      Talent
        Changing demographics
        Generation X, Y & Millenials
        Employer loyalty is "gone forever" he says
        More contact with Leaders of the firm
        Different/more career choices
        Want openness & transparency
        They want challenging work
        Greater impact of China & India
    Need to be successful in both
    The bigger picture
      120,000 qualified lawyers in the UK
      110,000 lawyers qualify in India EACH YEAR!
      China aspires to have 3 million lawyers within 10 years
      Will work 24/7 in shifts to cover timezones
      Unit labour costs are 20-25% lower than the West
  Talent Management Defined
    Measuring current performance v future potential
& strategic fit
    Measuring
      Performance
      Potential
      Fit
      Think a triangle with a 1-4 rating
on each axis
    9 Box Talent Grid
    Benefits of talent management
      Help you move people on
      or move people out
      Identify future leaders
    Career Development
      Competency Framework
        Business & Firm Management
        Client Relationships
        People & Team Management
        Personal Effectiveness
        Technical Expertise
      Learning & Development
      Performance Management
      New Resource Models
      Talent Management
      Employee Engagement
      Mentoring
      Succession Planning
    The Career Path
      Trainee (& Paralegals)
      Solicitor
      Associate (2 years later)
      Senior Associate
      Partner
      Legal Director
      Equity Partner
    Merit based remuneration
    Mentoring
      Many people can benefit from it
      People should not be reliant on it
      Have the Competency Framework at the heart of it
      People should feel proud to be a mentor
  The Need for New Resource Models
    Partners
      New entrants with different business models
      More tax efficient business models
      Too many Partners at the top of the Equity
      Fewer partner promotions
      Rewarding & motivating top performers
      Dealing with under-performers
      How to deal with retirement age
      Partnership Stock
        Robust selection
        Differen Partner "types" (salaried, fixed share, full equity)
        Need for "transition" out of the firm
    Fee-earners
      Need more flexibility
      Different aspirations of our lawyers
      Gen X & Y
      LPO e.g. MTV dictating use of our out-sourcer @ £12/hour
      Where does a firm really make money now?
      An example of a new resource model
        Fast trackers
        Secondee junkies
        Flexiworkers
        Level Stayers
        Homeworkers
        Graduates
        Paralegals
    Graduates
      He reckons £300,000 investment
over 2 years (fully loaded) per trainee
      University intakes starting to fall. Back to elite levels?
        Tuition fees rising
        Apprenticeship schemes
        More social inclusivity
        Start taking people at 16 & pay fees
      Employer loyalty is gone
      Big accountancy are now taking in apprentices
      Globalisation of law firms
      Client secondment demands
      Clydes reducing from 40 to 20
      Taking on more Paralegals & non-UK grads
    Implications
      More focus on this
      New skill sets
      Regular talent reviews (12 x 10min not 1 x 2 hours)
      Mentoring program
      Flexible office space & technology support