What attracts legal talent? Wolters Kluwer’s 2024 Future Ready Lawyer Survey Report leaves no doubt: 81% of legal professionals say an acceptable work-life balance is a critical factor, 79% expect competitive compensation packages, and 79% want professional development and training.
Recruitment and retention remain top-of-mind for both legal professionals and their employers. When asked which key trends they expect to impact law firms and legal departments over the next three years, 73% of survey participants said it’s the ability to attract, recruit, and retain talent. The good news is that 80% of respondents say their workplaces are ready to address this need.
Attracting and retaining legal talent
Notably, work culture is seen as important for attracting legal talent: nearly three-quarters (72%) of respondents are looking for diverse and inclusive workplaces, and 75% think their organizations promote such an environment.
Attracting and retaining top legal talent will continue to require a multi-pronged approach, with a strong emphasis on fostering an acceptable work-life balance in addition to offering competitive compensation packages and professional development and training.
“Law firms and in-house legal departments should definitely allocate more resources, both time and financial, to development and training related to team management, leadership, and emotional intelligence,” says Kamila Kurkowska, President and Founder of the Women in Law Foundation.
When it comes to recruiting, employers evaluate technological expertise in potential hires differently: 78% of corporate legal departments versus 67% of law firms think this is an important attribute.
Finally, in regard to remote work, the survey showed a surprising trend around the world in returning to the office. The majority (73%) of respondents say their staff is required to work in the office for four or more days per week; more so in corporate legal departments (77%) than in law firms (69%).
Work-life balance, learning, and diversity
Attracting top legal talent requires a holistic approach. If law firms and corporate legal departments hope to stay ahead in the talent acquisition game, it’s crucial to provide acceptable work-life balance, competitive compensation, and continuous professional development opportunities.
As Kamila Kurkowska puts it, "Lawyers are very demanding employees, intelligent, hungry for success and feedback, yet operating under stress and high pressure. This is not an easy group to manage and motivate. Leaders of law firms and in-house legal departments should seek knowledge from the best market experts, and leaders should train in this area.”
In the end, cultivating the modern legal workforce goes beyond just offering competitive salaries. It's about creating a supportive work environment that promotes work-life balance, continuous learning, and diversity.
To read the full legal industry analysis, download the 2024 Wolters Kluwer Future Ready Lawyer Survey Report >>