FRANKFURTERS AND FLEXIBILITY
Frohe Weihnachten!
For those of you not familiar with Birmingham and the change which comes over the city centre each November and December, let me fill you in.
Each year the Frankfurt market arrives, and the square next to the Town Hall and the famous ‘Floozy in the Jacuzzi’ is transformed into a small part of Deutschland, complete with oompah bands, bratwurst and glϋhwein.
The market itself is a bit of a phenomenon. Although it has only been visiting the city for ten years it has now grown to a point where it attracts as many visitors as the one in Frankfurt itself, with around 3 million people visitors each year passing through before it returns to Germany in late December.
What is particularly noticeable about the market is how in the evening it transforms into the centre of the professional services community. Being sited close to the heart of Birmingham’s business district and located in the shadow of the offices of DLA Piper, Browne Jacobson, Eversheds et al, it is not uncommon for the market to suddenly become a hub of lawyers, accountants, surveyors and other professionals when it gets dark.
This somewhat spontaneous networking can lead to pockets of business being discussed in various corners of the market, with preliminary negotiations taking place which are then followed up in the office the next day. Business being conducted in slightly unusual environments is becoming more common, as firms look at the new ways of speaking to clients outside the boardroom yet without the expense of corporate hospitality.
The concept of doing business away from the office is becoming more common as increasing numbers of professionals seek to implement flexible working arrangements. With internet technology meaning that even staff based overseas can work remotely in real time, and with some professional mothers keen to return to work quickly after maternity leave, more and more business is being conducted out of the office.
If you look at the not too distant past there was a certain stigma attached to those seeking flexible working, particularly in large corporate practices where the thought of going on maternity leave more than ten minutes before your waters broke was considered a sign of weakness.
Nowadays firms that have embraced flexible working are those which tend to enjoy high levels of staff retention and can also attract talent seeking this kind of working arrangement knowing that they won’t have to forego either their career or family life at the expense of the other. Indeed some firms now integrate family-friendly perks into their benefits packages to specifically attract those who are disillusioned with their current firm’s lack of awareness of their personal responsibilities.
It’s premature and indeed inaccurate to say that the death of the office is nigh, as a collective group of people working together in close proximity still enjoy a level of interaction and cohesion which makes it the most productive way of doing business. However this growing realisation that not everything has to be office-based to be worthwhile is threatening to upset the long-held belief that this is the only way to trade. After all, if you are approached on behalf of a corporate lawyer who can bring a £3m following but who wants to work from home every other Thursday are you going to say no?
The legal market seems to be more readily embracing the flexible working concept, realising that the wealth of talent not seeking a 9-5 desk job is huge, and by discounting this they run the risk of losing out on some good people. It is surprising that law is one of the fields which has taken longest to adjust to this considering it is an area where core hours have never really been observed with 60 hour weeks being common. As a candidate recently mentioned to us, if you’re happy to do 12 hour days does it matter if you’re doing 8 hours in the office and 4 hours from home?
With an ageing UK population it is entirely feasible that over the next 10-20 years more lawyers will be seeking to implement flexible or part-time working as they wind down their careers. Those firms who are willing to accommodate this will have the opportunity to recruit high quality lawyers with followings, and can expand the client base which will remain with the firm after the retirement of the original fee-earner. This recruitment can often be on a consultancy or non-partner basis, meaning that the firm has everything to gain and nothing to lose from their willingness to be flexible. Is your practice fully embracing the opportunities presented by flexible working?
If you near Birmingham, interested in doing business in a different environment, and you’ve never been to the Frankfurt market before then why not give it a try? You haven’t lived until you’ve been five Weiβbiers down, staring up at a giant moose’s head singing Christmas carols at you.
Let me tell you, “drunk” doesn’t even come close.
If you are interested in discussing how flexible working could improve the appeal of your firm and also increase your profitability contact one of our specialist consultants at VG Charles & Co. Alternatively if you are seeking a new opportunity which offers flexibility speak to us for a non-committal and absolutely confidential discussion on 0121 233 5000 or 020 7649 9094.