McGlinchey in the News
What Midsize Firms Get Right and Wrong About Retaining TalentRead Time: 1 min
Michael Ferachi, McGlinchey Stafford’s Managing Member, was interviewed by Law.com about talent retention in “What Midsize Firms Get Right and Wrong About Retaining Talent”. Michael shares his approach to flexibility and expectations.
“The biggest mistake firms make is not talking to their people. Not having intentional communication,” he said.
Ferachi said that when his firm loses people, it’s usually people who don’t come into the office as often, and aren’t as connected to the rest of the firm.
Despite that, he said he wouldn’t change the firm’s approach to flexibility. In fact, when asked what advice he would give to other firm leaders, the first thing Ferachi mentioned was flexibility.
“You need to be more flexible than you were before the pandemic,” he said.
“Be very clear on your expectations,” he said.
Several managing partners and consultants said they believe things are still in flux, both in regards to how people work post-pandemic and the war for talent. Given that, most advised that firm leaders should communicate frequently and purposefully, listen and be responsive, and be prepared to adapt to changing circumstances.
“The change is going to continue, and it’s going to continue to accelerate…the challenges continue…” Ferachi said. “What’s daunting, somewhat, are the disruptions. First it was fear of getting sick…now it’s fear of a recession. There’s going to be something after the recession.”