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Allen & Overy's The Future of Legal Talent
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<blockquote data-quote="Jaysen" data-source="post: 1030" data-attributes="member: 1"><p>I wanted to share a recent report by Allen & Overy, some very interesting conclusions.</p><p></p><p><strong>The Future for Legal Talent</strong></p><p>A major study into how lawyers view their careers in a new world</p><p></p><p><u><a href="http://www.allenovery.com/news/en-gb/articles/Pages/The-Future-for-Legal-Talent-Report.aspx" target="_blank">http://www.allenovery.com/news/en-gb/articles/Pages/The-Future-for-Legal-Talent-Report.aspx</a>.</u></p><p></p><p>Here's a summary; I've highlighted some of the points I found interesting.</p><ul> <li data-xf-list-type="ul">Whilst 55% of law students said they have a clear vision on the direction of their legal career, that figure fell to 23% in the first five years of practice.</li> </ul> <ul> <li data-xf-list-type="ul">81% of current lawyers think many young lawyers won't feel the path to partnership is worth it, although students disagreed with this.</li> </ul> <ul> <li data-xf-list-type="ul"><strong><span style="color: #000000">83% lawyers interviewed think that lawyers starting out now will have a different career experience compared to 5/10 years ago.</span></strong></li> </ul> <ul> <li data-xf-list-type="ul">81% students believe tech will let them focus on the more creative aspects of the legal role. Conversely, 5% believe it'll increase the risk of redundancy.</li> </ul> <ul> <li data-xf-list-type="ul"><strong><span style="color: #000000">84% think they'll need different skills today compared to 5/10 years ago, 30% felt the existing training adequately prepared them for it.</span></strong></li> </ul> <ul> <li data-xf-list-type="ul"><strong>Some of the most important skill sets they're looking for include technological expertise, commercial awareness, building a personal brand and a network of contacts and peers.</strong></li> </ul> <ul> <li data-xf-list-type="ul"><strong>There's a big interest in further learning and training from students as many feel ill-prepared. Many students expect to return to study at some point.</strong></li> </ul> <ul> <li data-xf-list-type="ul">Work/life balance was identified as the most important criterion for career success and almost half said they expect to work less than five days a week.</li> </ul> <ul> <li data-xf-list-type="ul"><strong>Allen & Overy's research show - alongside legal expertise - increased interpersonal skills, adaptability and emotional intelligence will be the most important skills for lawyers considering a move into legal consultancy.</strong></li> </ul><p>Allen & Overy pose some very interesting conclusions:</p><ul> <li data-xf-list-type="ul">"<strong>What development opportunities do law schools, firms and legal departments need to offer all lawyers – from students to the very experienced – to ensure they are ready for the challenges of tomorrow?</strong>".</li> </ul> <ul> <li data-xf-list-type="ul">Their research also shows that "existing structures are no longer fit for purpose" in terms of what lawyers expect in their future careers.</li> </ul></blockquote><p></p>
[QUOTE="Jaysen, post: 1030, member: 1"] I wanted to share a recent report by Allen & Overy, some very interesting conclusions. [B]The Future for Legal Talent[/B] A major study into how lawyers view their careers in a new world [U][URL]http://www.allenovery.com/news/en-gb/articles/Pages/The-Future-for-Legal-Talent-Report.aspx[/URL].[/U] Here's a summary; I've highlighted some of the points I found interesting. [LIST] [*]Whilst 55% of law students said they have a clear vision on the direction of their legal career, that figure fell to 23% in the first five years of practice. [/LIST] [LIST] [*]81% of current lawyers think many young lawyers won't feel the path to partnership is worth it, although students disagreed with this. [/LIST] [LIST] [*][B][COLOR=#000000]83% lawyers interviewed think that lawyers starting out now will have a different career experience compared to 5/10 years ago.[/COLOR][/B] [/LIST] [LIST] [*]81% students believe tech will let them focus on the more creative aspects of the legal role. Conversely, 5% believe it'll increase the risk of redundancy. [/LIST] [LIST] [*][B][COLOR=#000000]84% think they'll need different skills today compared to 5/10 years ago, 30% felt the existing training adequately prepared them for it.[/COLOR][/B] [/LIST] [LIST] [*][B]Some of the most important skill sets they're looking for include technological expertise, commercial awareness, building a personal brand and a network of contacts and peers.[/B] [/LIST] [LIST] [*][B]There's a big interest in further learning and training from students as many feel ill-prepared. Many students expect to return to study at some point.[/B] [/LIST] [LIST] [*]Work/life balance was identified as the most important criterion for career success and almost half said they expect to work less than five days a week. [/LIST] [LIST] [*][B]Allen & Overy's research show - alongside legal expertise - increased interpersonal skills, adaptability and emotional intelligence will be the most important skills for lawyers considering a move into legal consultancy.[/B] [/LIST] Allen & Overy pose some very interesting conclusions: [LIST] [*]"[B]What development opportunities do law schools, firms and legal departments need to offer all lawyers – from students to the very experienced – to ensure they are ready for the challenges of tomorrow?[/B]". [/LIST] [LIST] [*]Their research also shows that "existing structures are no longer fit for purpose" in terms of what lawyers expect in their future careers. [/LIST] [/QUOTE]
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