Legal firms search for ways to improve gender balance
A flawed system of promotion is holding women back from achieving partnership and equity.
A flawed system of promotion is holding women back from achieving partnership and equity.
While the global financial markets have been turbulent and interest rate rises have eradicated cheap debt, the number of lateral partner moves has remained steady.
Wellbeing measures are among the lures now held out to potential legal recruits being courted by law firms in the relentless battle to sign up and retain the sector’s best talent.
Flat growth totals for partners and fee-earning lawyers at sub-partner level have disguised variations between firms that show who is faring well in the war for talent and who has more work to do.
Top-tier firms are losing out to middle-market, high-growth firms in the war for non-partner fee-earners.
Law firms are reaching for more sophisticated structural and cultural solutions as they attempt to transform their enduring failure to promote enough women into a 21st century success story.