find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Australian law firms are world class but talent poor

Australian law firms are world class but talent poor

Australian firms see themselves as second only to Europe in their global competitiveness but say an inability to attract talented recruits is holding them back.

A recent Thomson Reuters study asked 132 senior fee-earning legal practitioners in medium-large firms across Australia about the challenges their firms face.

The research showed that Australian legal practitioners no longer feel that Australia is the “little fish” in the global market. Study participants ranked Australian firms second only to Europe, making them more competitive than those in the US (third on the list) and Asia (fourth). 

General manager of legal solutions at Thomson Reuters James Boocock commented on the research, saying, “The bullish attitude towards our legal market is encouraging…. However, we need to be realistic, and the survey identifies some important issues, particularly around the challenges of finding the right people to take a business forward.”

Things to work on

Legal practitioners in the study felt their firms were failing to achieve their full potential due to a number of factors including: an inability to recruit the best staff (44%); a lack of time (43%); a lack of financial resources (37%); and a lack of the necessary knowledge across the firm (36%).

Survey participants revealed a number of weak spots in their businesses in online and traditional marketing, business innovation and systems and IT.

“The importance of getting [IT] right can’t be over-emphasised… With the right systems in place (for example, sophisticated practice management or workflow solutions…) huge time and cost savings can be made, freeing up important man hours to spend on a business, not in a business,” said Boocock.

The study showed significant problems in process within Australian law firms. Almost half of firms had no formal staff training programs, 30 per cent never reviewed client satisfaction and 13 per cent never reviewed fee earners’ efficiency.

Almost 40 per cent of participants said the legal industry in Australia suffers from complacency.

However, study participants considered their firms to be very effective at client servicing, financial management and practice leadership.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Australian law firms are world class but talent poor
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...