#41 The Legal Profession This Week - Law Firm Culture​

By Dheepa​

Law Firm Culture

A Law.com article this week points out that, despite efforts to build a law firm culture based on aspects like diversity, pro bono, sustainability and well-being, the ongoing pay war proves that money is still king.

Or is that changing too? According to a survey by the International Bar Association, 33% of young lawyers planned to switch to a different area of law, while 20% are strongly considering leaving the profession altogether. Some of their biggest concerns include the lack of work-life balance and the failure to address 'a toxic workplace culture'. Although law firms struggling with retention are still betting on some associates following the money, the survey suggests that junior lawyers want more than just a lucrative pay packet.

This is not to say that law firms have not tried to meet this demand for more support. Firms appear to be increasingly aware of the importance of mental health for their junior lawyers.

Another key issue here is the debate over remote working. While junior lawyers want more flexibility and options for remote work, it seems that some senior leaders are hesitant to bring about this change. 54% of survey respondents (all below the age of 40) believe that more options for flexible working is the necessary long-term solution. On the other hand, senior leaders have argued that remote working significantly reduces the strength of workplace relationships.

‘Business as usual’ – the notable deals and cases which went ahead this week:

A trio of City firms are advising on Bridgepoint’s sale of Elements Material Technology to Singapore based investment fund Temasek. Allen & Overy is advising Bridgepoint, while Clifford Chance and DLA Piper are acting for Temasek and Elements respectively (The Lawyer).


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