What does the future of the law hold for you?

The Legal Services Act 2007 has led to much speculation around the future of the legal profession but what do those who work in practice day in and day out believe the future holds in store for the profession? Badenoch & Clark is investigating what partners and associates in private practice think and how any changes will impact upon attraction and retention of employees as well as talent management.

For partners and managers the Legal Services Act brings with it a plethora of knock on effects. Over a quarter (28%) of lawyers agree that new business models will threaten the traditional practice model. How will firms position themselves to remain employers of choice capable of attracting the very best talent? What effect will a change in practice or pay structure have on the firms' ability to retain the top performing associates given that almost half (47%) of partners are discussing change but only a quarter (23%) of associates think its being discussed?

For solicitors the very same issues are likely to bring a completely different set of concerns. To what extent should I have pay structure as one of the main considerations when moving firm? How does my career plan take economic cycles into account? Given that an increasingly harsh tax regime for top earners is reducing the number of partners that retire early can I wait longer to be made up? With associates and partners agreeing that there will be a higher proportion of paralegals in law firms in 2015 and neither viewing managerial skills as that important a skill in associates in five years time do you have the right skills to handle large teams of paralegals?

By galvanising the opinions of associates and partners, the findings and discussions about the results will provide truly useful information to both employers and employees alike as they seek to create strategic plans for the future of their practice or their career respectively. The debate is likely to be an ongoing one so register for email updates here