Lindsay-Smith: Balancing act
There is “a significant generational shift in priorities” between those seeking their first job as a lawyer and those already working for law firms, a report has found.
Researchers said in-house and private practice lawyers also had different priorities – and different views on the key factors in choosing a law firm.
Two-thirds of aspiring lawyers said the most important attribute when choosing a law firm to work for was work-life balance, followed by 60% wanting a friendly and supportive culture, and, in joint third place with 57%, a ‘fast-growing law firm’ and a ‘reputation for strong customer service’.
Less important priorities were strong investment in technology, opportunities for career progression and a reputation for business acumen.
In contrast, established lawyers said their top three priorities when choosing a law firm to work for were a strong reputation in the industry and a reputation for business acumen (both on 53%), followed by a reputation for customer service (47%).
Less important priorities were work/life balance and opportunities for career progression, interesting clients and strong investment in technology.
Researchers from brand consultancy Industry based their Legal Brand Survey 2024 on responses from 122 private practice lawyers, including trainee solicitors and paralegals, 105 law graduates and students seeking legal roles and 112 in-house lawyers. A further 25 marketing and HR professionals were also involved.
For in-house lawyers, the top priority when considering appointing a law firm was strong customer service (42%), followed by flexible fee arrangements, strong brand reputation and business acumen, all three on 39%.
However, when lawyers in private practice were asked what they considered to be the most important factors when clients chose a law firm, sector experience, cited by 52%, emerged as the most important.
This was followed by technical excellence and a strong brand reputation, and then by strong customer service and the ‘attitude of the lawyers’.
Researchers said: “It is reassuring to see consensus on many critical attributes. Both in-house lawyers and private practice lawyers agree on the importance of a strong brand reputation and a clear value proposition.
“But in-house lawyers place greater emphasis on value for money and good business sense, whereas lawyers in private practice overestimate the importance of their technical excellence in the eyes of their clients.”
More than three-quarters of aspiring lawyers said brand reputation was important when deciding which law firm to work for.
Similar, but slightly lower, proportions of in-house lawyers said brand reputation was important when they were considering appointing a law firm, and private practice lawyers when clients were choosing a law firm.
Respondents to the survey said their top five law brands were A&O Shearman, followed by Clifford Chance, CMS, Linklaters and DLA Piper.
Sholto Lindsay-Smith, founder and director at Industry, said insights from the survey indicated “potential challenges for law firms as they navigate the expectations of a new generation of legal professionals”.
He went on: “Firms must balance maintaining their established brand reputations with fostering an environment that appeals to younger talent, who value innovation, social impact, and work-life balance.
“Addressing these factors will be crucial for firms aiming to attract and retain top talent in the coming years.”
