Consider the changes the legal industry has undergone during the last several decades. From typewriters to cutting-edge software for law firms and paper billing logs to computerized timekeeping and invoicing software, members of the legal industry are witnessing an incredible revolution.
Technology drives change, but some law firms will resist. Yet, technology isn’t the only change law firms see. Employees and clients are getting younger. Is your law firm ready to both employ and serve the next generation? Here are 5 things you should know about how Millennials will affect the legal industry.
1. Millennials Are the Largest Working Class
As Millennials are finishing their education and entering the workforce, Baby Boomers are preparing to retire. Pew Research conducted a study utilizing data from the U.S. Census Bureau and found that there are 53.5 million Millennials in the workforce. There are 52.7 million Generation X members in the workforce and 45 million Baby Boomers.
So, what do these numbers mean for your law firm? It means that you’re likely to see an increase in younger clients and in your applicant pool when your firm has an opening. Your law firm must be ready to meet the unique needs and desires of the largest working class.
2. Millennials and Corporate Culture
One of the unique desires of Millennials starts in the workplace. They are interested in working for companies that do more than serve their industry. They want to work for a place that gets involved in the community and also supports a healthier work/life balance.
If you’re looking to attract and retain the best and brightest Millennials to your law firm, you must examine your corporate culture. When your employees are happy, they are more engaged and more fulfilled in their role with your law firm. When they are more engaged and fulfilled, they are less likely to leave for other opportunities. Are you equipped with the latest software for law firms? Or is your firm’s outdated practices going to serve as a turn off to young prospective employees?
3. Millennials Have Different Needs and Desires Than Previous Generations
Gallup listed six changes that most offices need to make in order to attract and retain Millennials:
- Your organization needs a purpose. Millennials want to feel like they are contributing to something bigger than themselves.
- Millennials are seeking professional development.
- Millennials want to be coached in the workplace.
- Millennials want regular feedback.
- They want to develop their strengths.
- They want their job to contribute to the overall quality of their lives.
4. Millennials Demand Nearly Instant Results
Millennials are the first generation to have the Internet available to them from the time they can click a mouse. While this makes Millennials good with research and comfortable with technology, it also created a semi-unrealistic expectation of nearly instantaneous results.
Here’s what this means for your law firm. Your law firm must improve its communication with clients. Millennials will take their business to law firms that prioritize their desire for feedback. One way that you can capitalize on this is to make it the firm’s policy that emails and phone calls from clients are returned within 24 hours. While their question or concern may take more research, a quick call to let them know that you’re still looking into their concern is an easy way to connect and let them know that your firm values their business.
5. Millennials Are Innovative
Because of the exposure Millennials had to the Internet and to great technological advancement during their entire life, they are extremely innovative. This innovation, and their comfort with technology, make Millennials a great choice as employees. If you’re looking to go paperless, move to the cloud, or streamlining your document production with today’s software for law firms, Millennials can be a great help. From using new software and hardware to creating training programs for others, Millennials are fantastic additions for law firms.
Does Your Law Firm Need To Catch Up?
If you’re ready to improve your law firm to attract and retain Millennial talent and clients, Infoware has the solution. Our innovative, easy to use software suite helps save time for your employees while keeping your office digital. To learn how Infoware’s software for law firms and legal document automation service can help your law office, contact Infoware today to schedule your free consultation.