A report published today by Peerpoint, Allen & Overy’s consultant lawyer platform, reveals that lawyers are increasingly looking to new ways of working to achieve career satisfaction, with consulting now entering the mainstream. Contributor Richard Punt, CEO of Peerpoint.
The Future for Legal Talent report is based on findings of a survey of over 1,000 lawyers and law students, bringing to the fore the views of lawyers themselves at a time of great change within the industry.
The report shows that the concerns of lawyers are shifting, with key findings including: Achieving a fulfilling work/life balance is now the most important measure of career success; Consulting is now the norm, with 38 percent having actively considered consulting while 57 percent would recommend it. The experience of a legal career is changing with lawyers optimistic about technology but worried they are not prepared for the changes to come. Lawyers are satisfied with their choice of profession but frustrated with the career options available to them
Commenting on the findings of the report, Richard Punt, CEO of Peerpoint said: “Change in the world of legal work is being driven by expectations for more control and greater flexibility whilst retaining access to intellectually rigorous work. Conventional career models don’t meet these combined ambitions and new career paths that enable lawyers to enjoy practicing law while building a career on their own terms are becoming the norm. These findings have implications not just for individual lawyers but for decision makers in house and in private practice.”
This shift comes at a time when the skills lawyers need are also changing – the survey found that 84 percent of lawyers agreed that they would need different skills today from those they needed five to ten years ago. The results are clear that while lawyers are optimistic about the impact of new technologies and changing approaches to legal resourcing, they don’t feel they are prepared for change.
The survey shows there is a satisfaction gap between the enthusiasm lawyers have for practising law and the career path options available to them, with 24 percent of respondents considering quitting the profession altogether and 36 percent expecting to be self-employed for at least part of their careers. 38 percent have actively considered consulting, demonstrating that the traditional structures of the industry no longer align with what many lawyers expect from their careers.
