Talent troubles in the legal industry – “great resignation” and readiness to leave
Most legal organisations aren’t doing very well at delivering on the expectations of their workforce. The latest Future Ready Lawyer Survey show that 70% of corporate lawyers and 58% of law firm lawyers say they are very to somewhat likely to leave their current position in the next year.
Both legal departments and law firms face growing pressure on the talent front. Moreover, the pandemic changed how and where professionals work. New demands have emerged, and the majority of professionals expect a tech-enabled organisation that supports their preferred way of working: hybrid or full-time remote – 69% of corporate lawyers and 72% of law firm lawyers expect to work remotely from home all or part of the time going forward.
Legal professionals are ready to leave
The Wolters Kluwer Survey found that – as the “great resignation” rolls on – most organisations aren’t doing very well at delivering on the expectations of their workforce, foretelling greater recruiting and retention challenges ahead.
The “great resignation” has had worldwide impact, and as record-level resignation rates continue in 2022, the legal profession has faced unprecedented retention and recruiting challenges. While some maintain that the great resignation may more aptly be called the “great reshuffling” – as lawyers stay in the profession but change employers – the disruptive and costly impact on organisations remains high. The Survey reveals that 70% of corporate lawyers and 58% of law firm lawyers say they are very to somewhat likely to leave their current position in the next year.
Legal technology as a talent attractor
The increasing impact of technology is a trend that has had growing momentum over the years for both legal departments and law firms across a wide range of areas. Today, more than ever, it factors in firm selection and retention, day-to-day operations, and as a productivity solution, talent attractor and performance driver.
Focusing on technology, 87% of corporate lawyers and 83% of law firm lawyers say it’s extremely or very important to work for an organisation that fully leverages technology. However, only 36% of lawyers believe their legal department is very prepared to recruit/retain technology staff, and in law firms, just 33% of lawyers say their firm is very prepared for this.
Also on the people front, the Survey found a significant increase in organisations revisiting who does the work and how it gets done. While legal departments report they are insourcing more work, both legal departments and law firms are increasingly leveraging different types of arrangements – from contract workers to alternative legal service providers (ALSPs) to non-legal staff and more self-service options for clients.
The full report, which also includes special sections on the impact of the crisis, the performance of technology leaders and insights from legal industry luminaries can be downloaded at 2022 Wolters Kluwer Future Ready Lawyer Survey: Leading Change >>