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"It's difficult to see change when you're in the midst of it. Clearly the profession is in the midst of great change, and it's not always easy to see where it's going to end up," Kendall Freeman, managing partner at Laurence Harris, said in an interview with The Lawyer.
There does seem to be some regional differences in the survey responses, though. Out of the 3,000 attorneys surveyed, 59 percent of London attorneys were extremely worried about keeping associates. However, only 36 percent of attorneys from outside London thought that the issue was something to be concerned about.
The main reason the big firms within London are having trouble keeping associates is because the workload is increasing at many of the firms. As the workload goes up and firms aim for higher profits, salaries are divided between fewer partners. This is discouraging to many associates and makes them feel like partnership is something they will never achieve. These thoughts usually lead them to change firms.
On the other hand, 49 percent of those surveyed who work outside of London cited the Legal Services Bill as being the most important concern for attorneys. Only 28 percent of attorneys who work inside London agreed with them. The reason for this is because many of the firms outside of London are smaller firms that have more to lose when competition between firms is increased.
Firms that are worried about the Legal Services Bill are considering outsourcing due to IT competition that they think the bill will create. However, with three years to go before the bill gets voted on, firms can rest easy for a little while longer.
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