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UK law firms optimistic despite 67 percent saying lack of talent could hinder growth

09/02/2018 News Team

UK law firms remain optimistic about their growth prospects despite ongoing environment of geopolitical uncertainty, as new research from specialist recruiter, Clayton Legal reveals, 66 percent of firms are looking to increase employers over the next twelve months to contend with increased demand for their services.

Research also found that while firms are optimistic about headcount growth, skills shortages are at the top of the challenge facing legal practices with 67 percent concerned that access to talent could hamper growth.

Staff retention was ranked as the second biggest challenge (20 percent) demonstrating that whilst firms may be optimistic about growth, talent management strategies will be critical to ensure practices have the right people to cater their clients effectively.

Lynn Sedgwick, managing director of Clayton Legal, said: “Overall, there is still caution in the air amongst UK law firms relating to not only the talent landscape, but also the geopolitical environment. While firms must respond to these challenges, it is clear that practices are optimistic about the future.”

“And with the legal profession evolving at a rapid rate, changing employee expectations, client demands, technology and external factors look set to alter the very nature of the jobs and skills required. Firms that embrace and respond to these changes through the development of robust, forward thinking strategies will succeed in 2018.”

Clayton’s research also offers an overview of the top opportunities facing firms in 2018. Technology came first (48 percent) followed by expansion (36 percent). Also carried out was the recruiter’s research which revealed that Brexit was seen as an opportunity (eight percent) and a threat (four percent) to law firms.

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