NQ LEADING LAWYERS TRAINING
THE LEADERSHIP GAP
The current talent retention problem in the legal sector has escalated into a costly salary war between firms, with top of the market NQ salaries tipping £179,000.
One of the many consequences of mass movement in the sector is that firms are struggling to fill mid-level associate positions, and both junior lawyers and senior leaders are overburdened as a result - all of which is compounding the retention and mental health crisis.
Firms are also struggling to close widening generational gaps between senior and junior leaders, with many firms expressing genuine concern over their future sustainability and competitiveness.
As well as being ‘stuck in the middle’, HR teams are facing additional pressure due to increased regulatory focus by the SRA on mental health and workplace culture.
CURRENT STATE OF PLAY:
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32,217 associates left law firms globally in the first nine months of 2021 alone
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44% of associates leave their firms after being there for only three years
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72% of leaders feel increased pressure to deliver and 59% are working longer hours
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76% of partners believe junior associates are more entitled than they were three years ago
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42% of partners said juniors don’t work as hard as they did
CLOSING THE LEADERSHIP GAP
Although there is no magic wand solution to the sector challenges, when we look at research on why talent leaves, what they look for in a firm and why they stay, it’s clear that there is a major gap in supporting associates to successfully transition into their junior leadership roles.
Schedule a call with us to find out how our NQ programme can support your firm's leadership pipeline and talent development.