4 minute read
The Business Case for Lawyer Well-Being
By JUDGE STEVEN C. HORNSBY, (RET.) J.D., C.L.C. CINDY PENSONEAU, J.D., Y.T.T
This is not the usual article about lawyer well-being, we promise. If you are interested in your firm’s performance, client satisfaction, and financial success, keep reading. If you are concerned with preventing malpractice claims, reducing employee turnover, and building a positive reputation, this article is for you.
Let’s cut to the chase, shall we? On the asset side of your firm’s balance sheet, there is a variety of line items for tangible and intangible assets like real property, equipment, furniture, accounts receivable, goodwill, and more. But where is the line item for the largest revenuegenerating asset in your firm, i.e., the human beings?
Fact: The most valuable asset in a law firm is its people.
Oddly, and too commonly, the legal profession seems to fail to understand the significance of this simple fact. Many major companies in the business world are ahead of us by several decades by offering opportunities for wellbeing and professional development. Why? They realize that investing in the personal effectiveness of their people pays big dividends. Fostering a culture of professional development and personal well-being helps recruit and retain employees, improve performance, reduce losses, and promote future growth.
The practice of law is a demanding profession with high expectations for legal practitioners. Like professional athletes, lawyers are required to possess a high level of competence and fitness to engage in the profession, and that fitness must be continually developed and maintained. And as professional athletes know, fitness requires not only physical conditioning, but also mental and emotional health, as well as the social needs for being part of a positive team culture. When these elements are present, the conditions are right for both the lawyer and firm to thrive.
Fact: Continual personal growth and professional development, along with being part of a positive work culture is the right combination for success.
There is growing recognition that the legal profession can – and should - do more to provide opportunities for well-being and professional development. Studies have shown extremely high rates of burnout, anxiety, depression, addiction and suicide among lawyers compared to other professions. In fact, the rates are so alarming that the ABA has declared our profession to be in a state of crisis and is encouraging law firms to make lawyer well-being a top priority.
The comprehensive report “Path to Lawyer WellBeing: Practical Recommendations for Positive Change” and “Well-Being Toolkit for Lawyers and Legal Employers” (2017) highlight three salient points about why it is important to focus on lawyer well-being: 1. It’s good for business. Any organization, including law firms, are most successful when its’ people are healthy, happy and thriving. Engagement and performance improve while absenteeism and turnover rates decrease. Firms that value and invest in their people
are more sustainable and durable over time. People are more competent, effective, and stable.
When people feel valued and respected as a team member, they aren’t as likely to be interested in leaving. Over decades, research has consistently shown that money - while important - is frequently not why people stay with an employer. It is often more important that employees feel respected, are working with people they like, and find a sense of meaning in their work.
Conversely, attorneys who are chronically stressed and dealing with anxiety and depression, and possibly relying on alcohol or other substances to cope, are at much higher risk for malpractice claims and health care costs, which can increase health and liability insurance premiums. Law firms that fail to create a positive human culture, will also fail to retain good lawyers and experience consistently high turnover. 2. It’s good for clients. Lawyer competence, integrity, and client satisfaction decline when well-being declines. Under the Tennessee Rules of Professional Conduct, Rule 1:1, lawyers are obligated to provide competent client representation. Fulfilling even basic levels of competence requires lawyers to be physically, mentally, and emotionally sound. When lawyers are struggling, competence suffers. Lawyers who are impaired due to being over-stressed, sleep deprived, or having cognitive impairment due to alcohol, drug use, or hangovers, are highly susceptible to lapses in integrity and judgment which can lead to all sorts of costly problem behaviors. As a result, the clients, the firm, and the lawyer are all at risk.
On the other hand, when lawyers are physically, emotionally and mentally healthy, their performance improves, they are able to build better relationships with clients, and client satisfaction increases. Satisfied clients come back with more business and make positive referrals. 3. It’s the right thing to do. Enhancing the quality of our work life improves our quality of life overall. We aren’t just lawyers. We are people with families, friends and community. Historically, lawyers have been looked upon to serve important roles in their families and communities as leaders, volunteers and positive role models who contribute to the greater good and betterment of others. If we are suffering from chronic fatigue, anxiety, alcoholism, burnout, or depression, we cannot show up in a positive way for our family, friends, and society.
A well-lived life is so much more than a career. We have much to offer as caring spouses, partners, colleagues, parents, friends, artists, musicians, writers, church and nonprofit volunteers, sports coaches, trusted advisors, community leaders, and the list goes on and on.
Fact: Ultimately, lawyer well-being is about success in every aspect of life.
Join us as we explore the business case for well-being in depth in the MBA-sponsored CLE series in February, March, and April, “Making the Business Case for WellBeing”.
Cindy Pensoneau, JD, YTT Judge Steve Hornsby, JD, CLC
