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No retain, no gain: Why employee retention is important to business success – Muckle LLP

They say good help is hard to find, but what if you’re looking in the wrong place? Businesses can be too focused on attracting new employees to the detriment of nurturing their existing talent. And considering it can cost between six to nine months’ salary to find, onboard and train a new employee, should businesses start looking closer to home?

For Muckle LLP, this is a given.

As a leading law firm for business, its people are its product. Here, corporate partners Philip Clare, Matthew Walsh and Stephanie Brown – who all began as trainees at the firm – discuss ho w their experiences at Muckle have shaped their careers.

Philip, who qualified in 2005 before making partner in 2013, has three main reasons for staying.

He says: “It’s a combination of a great team, great clients and great career development opportunities.

“There is a real focus on working with individuals to support progression in a way that suits them, whether that is through training, opportunities to do work that excites them or simply being trusted to work independently.”

Matthew agrees, crediting the work and trust as key factors.

He says: “Part of the appeal was doing good quality work in the corporate team, and being given as much responsibility as I was ready for.

“Project work is hard and can be all-consuming, but it is so rewarding to be part of the team that pushes the deal over the line.”

Stephanie, the newest corporate partner – having been promoted this year after qualifying in 2017 – adds: “I had an idea of what I wanted to achieve, and the firm supported me with that.

“Everyone at Muckle is looked at as being on their own path; we try and personalise everyone’s career journey based on their skills alongside business needs.”

Engaged people equals engaged clients

Staff retention also impacts clients.

Having the same people who know clients’ businesses inside out creates consistency and familiarity, which helps create the trusted adviser role so many service businesses strive for.

Matthew says: “So much of what we do is about building relationships and understanding multiple perspectives, which includes project advisers – such as corporate finance or tax advisers – as well as clients.”

Stephanie says: “My favourite thing about my job is feeling like I’ve really made a difference in supporting clients through a transaction; building relationships and trust is really important for that.

“There can be a lot of emotions involved, particularly if it’s a family business.”

Philip adds: “We’ve built great relationships with our long-term clients.

“Seeing both new and long-term clients through their growth journey is very rewarding, and part of how we can achieve these great results is through having a close team relationship.”

Moving on up

Philip thinks creating and nurturing opportunities is key to people retention.

He says: “We’re a massive believer in internal mobility; if you are good at what you do, you will progress here.

“Seven of our current partners started their careers here as trainees, and dozens more associates and solicitors have done the same.

“I have been greatly helped over my career, and I’m now in a position where I can return the favour and help develop the next generation of legal talent.”

Stephanie, who is the lead of Muckle’s graduate recruitment team, says: “There’s a high level of trust at management level, and they genuinely want to develop people.

“You know you’re never going to be held back and that you’ll be allowed to develop into a role over time.

“And I really enjoy training the junior lawyers; I came through that process not so long ago and can remember what it was like.”

Matthew adds: “As a Muckle trainee, I was supported every step of the way to becoming partner.

“I was given responsibility from the start and really trusted.

“We recognise that well-trained, engaged and trusted people will grow into much better lawyers.

“For me, organisations must provide a pathway for progression, as well as help their people see their contributions are being valued.”

More than just a job

Your organisation’s culture is also key to people retention.

And having worked at Muckle for more than 20 years, Philip has seen a lot of cultural change.

He says: “We’ve worked hard over the years to create the values and culture we have now, and that takes a long time to become embedded.”

Matthew says: “We’ve prioritised a culture that supports our communities, most recently with the push for B Corp™ accreditation.

“It’s so important we hire and retain people who share those same values to ensure the business keeps going in the right direction.”

Stephanie adds: “The feedback we hear is that when people join Muckle, they feel like the culture is actually there.

“However, nobody is complacent about culture, and there is always work to be done to improve.”

As well as its trainee programme, Muckle is a founding member of the North East Apprenticeship Scheme (NESA), a six-year endeavour that supports apprentices to get work experience and a law degree before qualifying as a solicitor without university debt.

Muckle’s first solicitor apprentice qualified in 2023, coincidentally into the corporate team, maintaining its tradition of retaining talent.

 

www.muckle-llp.com

Pictured, left to right: Muckle LLP’s Philip Clare, Matthew Walsh and Stephanie Brown

Photgraphy: Mike Smith

September 23, 2024

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