Why write about the value of mentoring in law firms? Isn’t this old news? Everyone knows that people are a law firm’s most important asset and that mentoring is critical to the maximization of that asset.
Unfortunately, while we all know its importance, mentoring is languishing at many law firms. This is hardly surprising. As a former law firm partner and practice group leader, I know how challenging it is to find the time and energy to be a good mentor, in the face of ever-increasing billable hour and client pressures. What’s more, mentoring seems much less valued than hours and billings (and is certainly not as well compensated).
Mentoring and Your People
While the barriers to being a good mentor have never been bigger, the need for mentoring by younger lawyers has never been greater. In my experience as a lawyer coach, this is so for at least three reasons:
- first, it is a generational phenomenon. Millennials are accustomed to, and crave, feedback and mentoring.
- second, rising billable rates mean that associates tend to junior on large files only and are removed from client and file management. They have less practical experience and so need mentoring to fill that gap.
- practising law is more competitive and stressful than it has ever been before. This impacts both mentees and mentors – mentees are anxious and looking for support from mentors, who are already stretched and so less willing and/or able to provide that support.
Mentoring and Your Firm
It is not just junior lawyers, though, who benefit from strong mentoring. Mentoring is crucial for firm success in today’s competitive legal market for a number of reasons:
- mentoring is key to client satisfaction. Clients now expect that work will be done at the lowest possible level and rate. Junior lawyers need mentoring to be able to provide the standard of service clients are demanding.
- success today requires that every lawyer is firing on all cylinders. In my experience, the lack of mentoring and support is actually impeding performance. Stress and anxiety distract lawyers from doing their best work (not to mention sleep, mood and other stress-related issues). They can become paralyzed by the thought of making a mistake (which results in all kinds of unhelpful behaviour, like overworking files and inability to make decisions).
- last and, in my view, most importantly, mentoring is key to strong relationships in the firm and to building the practice long term. It is critical to retaining your best people. I am amazed by the number of lawyers I coach, who are described by their firms as “superstars”, who do not really feel valued by the firm. Mentoring is also key to ensuring that the lawyers, who inevitably leave the firm, depart loyal and keen to send the firm work.
Bottom line, mentoring is mission critical to maximize the value of your people and to maintain and build the business of the firm in these tougher times.
This is not to understate the challenges of being an effective mentor. For some tips on how to be a good mentor, check out my next blog or contact me at hilary.clarke@potentiacoaching.ca.