Latest news – Employees want a culture of trust; Continual learning crucial for law grads; LPO market to keep growing

Culture of trust the key to keeping staff

A new study identifying the best places to work suggests that a culture of trust is the key to retaining talent in the Asia-Pacific region. According to research and consulting firm, Great Place to Work, employees at the top 60 Best Workplaces in Asia indicate that managers who behave in a respectful way is the most significant factor behind employees staying in current jobs.

Great Place to Work’s annual study of Asia’s Best Workplaces names transportation services company DHL as the No.1 organisation among multinational workforces, followed by IT organisation Salesforce and the luxury hotel group, Hilton. Great Place to Work chief executive Michael Bush says “a high-trust culture helps you attract people, improves your performance, retains your top talent, fosters innovation and assures a sustainable business”. “Our 30 years of research shows that it is not perks and benefits that will get employees ‘fired up’ to go to work and contribute fully, it is the quality of the relationships that they have with their managers, peers, and job,” Bush says.

Rounding out the top 10 position for multinationals were Omnicom Media Group, Intercontinental Hotels Group, SAP, American Express, Estée Lauder, NetApp and Dell EMC. Of the 25 best large workplaces in Asia, Australian information technology and software company Atlassian ranked 4th and Australian make-up retailer, MECCA, came in at 8th.

The report also found that in comparison to organisations with low or average levels of engagement, those ranked highly in the best organisations’ list of best places to work had fewer employees, higher average revenue and higher average productivity per person.

Continual learning the key for law grads

Law school graduates embarking on their careers should seek out continual learning opportunities and be willing to take risks, according to a survey of 350 lawyers at law firms and legal departments in the US and Canada. The research was developed by Robert Half Legal, a legal staffing and consulting services firm, and conducted by an independent research firm. Lawyers were asked: “What is the single best piece of career advice that you’ve ever received and continue to use today?” Their professional development tips included:

1. “Choose a career that allows you to learn as you grow.”

2. “Take risks and open yourself up to possibilities.”

3. “Find a firm that has the same qualities and priorities as you do.”

4. “Look for challenging work.”

5. “Be willing to change if necessary. That includes location and your job itself.”

6. “Every experience you have is a building block to the next level.”

7. “Be self-motivated and strive to succeed.”

8. “Try to learn as much as you can. Don’t be afraid to take on new assignments. Expand your knowledge.”

9. “When you quit learning, move on.”

10. “Do not be afraid to ask for what you want.”

Lawyers also stressed the importance of client relationship management, advising graduates to “treat each client like it’s your first one” and “Listen more than you talk.” “Newly minted associates can successfully launch a legal career by managing challenges and setting strategic goals, obtaining a mentor and building professional networks,” says Charles Volkert, senior district president of Robert Half Legal.

Volkert adds that to deliver ever-improving value on the job, lawyers should volunteer for assignments where they can expand not only their legal knowledge but also develop business acumen. “By undertaking challenging projects, associates are able to learn new skills, build relationships and improve their visibility within the organisation.”

Double-digit growth likely for LPO

Reports of the death of legal process outsourcing may be exaggerated. According to a new study, the global LPO market is set for double-digit annual growth for the next five years. In its Global LPO Services Market 2017-21 report, British market research company Technavio predicts that the LPO sector may grow to US$8.71 billion by 2021 on the back of a yearly average growth rate of almost 29 per cent.

It expects onshore LPO to grow as businesses emphasise shared regulatory frameworks and amid lingering concerns about the security of offshore LPO services. Technavio suggests that the proliferation of risk-management practices will drive the growth prospects for the global LPO services market. According to the report, these risk factors include economic, technological and operational factors in internal and external businesses.