The legal sector labour market is experiencing the same demographic squeeze as other intellectual capital sectors – and this trend is set to worsen. In addition, employee attrition in some firms is unacceptably high at 20%-25%.
The typical response from firms is to acquire external candidates to fill the most critical jobs and try to convince current employees to stay through more money or increased perks. These retention measures often represent isolated initiatives rather than a co-ordinated strategy, which can exacerbate the situation rather than improve it.
