Employee Benefits in law firms – All about the money rather than well-being?Posted on: August 20, 2015
I recently did some work on The Lawyer’s employee workplace benefits research into 70 law firms that resulted in articles in both The Lawyer http://www.thelawyer.com/ (15 June 2015) and Employee Benefits http://www.employeebenefits.co.uk/ (July/August 2015) magazines.
The overall findings were that there was less flexibility and innovation in employee benefits in law firms than might be expected, considering the ongoing war for talent. Perhaps the typically high salaries and bonuses, generous holiday entitlements, intensive development programmes, solid career prospects and reasonable on-site facilities push other employee benefits lower down the priority list.
As a psychologist and a trainee psychotherapist, what I found most interesting was that:
- Two-thirds of firms have a strategy in place to support well-being although it rose to 80% for larger firms
- Only a quarter of firms provide training to help line managers support staff experiencing stress
- Just 17% of firms have a dedicated information system on mental wellbeing, although this rose to a third for London and larger firms.
On the plus side:
- 60% of firms have Employee Assistance Programmes (EAPs) – and this rose to three quarters of the large firms – which is still low compared to the corporate sector where the figure is closer to 80%.
- A third of law firms offer counselling services and this rose to a half of large firms.
The key findings of the research can be seen in the Employee Benefits article: http://www.employeebenefits.co.uk/benefits/pay-/-bonus-and-reward/the-workplace-benefits-offered-by-the-uks-top-law-firms/107228.article.
To purchase the full report visit www.thelawyer.com/WorkplaceBenefits
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