How to Address & Prevent Knowledge Loss - A Practical Guide for Law Firms

Introduction

Law firms thrive on the collective wisdom of their staff—the combined brainpower that helps them solve clients’ problems. But people inevitably take breaks (maternity and paternity leave, and the newer mid-life gap year) and they move on, chasing new horizons, retiring, or—less romantically—get made redundant.

What is the cost of this knowledge vanishing act?

Replacing staff involves the usual recruitment, hiring, and training expenses, but the real problem is the intangible cost.

This could be years of technical legal know how or even the secret workarounds to make your ancient legacy software behave.

Dorothea Leonard, an academic and consultant, surveyed senior leaders in large US firms and found that the intangible cost of losing a knowledgeable person ranged from $50,000 to a whopping $299,000!

By the time someone informs HR of their departure or redundancies are announced, it is often too late to download their knowledge for the benefit of the organisation they are leaving.

This webinar will show you how to get ahead of the issue.

Aimed at law firm leaders, HR and those working in knowledge and information management, this webinar is ideal for mid-sized to larger firms but will also be of value to niche and smaller firms where the loss of a key person would have a significant effect on profitability.

What You Will Learn

This webinar will cover the following:

• The problems and costs of knowledge loss
• How to invest in addressing the issue with a clear conscience or build a business case to persuade your leadership team to invest
• The problem areas and easier parts of knowledge transfer
• How to apply the right solutions to the right issues and focus your investment on the complex and valuable knowledge
• How to create your own knowledge loss avoidance strategy
• Avoid biases and benefit from years of research into knowledge transfer methods
• Practical solutions to avoid the issues occurring in the future

This pre-recorded webinar will be available to view from Friday 31st January 2025

Alternatively, you can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.