Is there a natural fit between how the legal industry is evolving and Millennial attorneys? Law practice and competition have changed over the last ten years and will continue to do so over the next decade. Technology, Big Data and AIwill influence the delivery of legal services, while greater numbers of Millennials become leaders in law firms and legal departments. Some argue certain qualities that characterize Millennials will make adaptation to technology and New Law modelseasier, but Big Law is a different story. Recent surveys of Millennials highlight inconsistencies between the generation’s views on work and characteristics typical of large law firms. The legal eco system will be shaped not only by the latest developments in technology and service delivery, but by Millennials who will provide leadership.
Who Are Millennials And What Do They Want? By 2025, Millennials will make up 75% of the global workforce. Many are already becoming managers. In a recent surveyconducted by EY almost half of Millennials said they started managing when they were between 25-29 years old. At the same time, Millennials change jobs (37% in the last 5 years) more frequently than both Gen Xers and baby boomers. The top five reasons Millennials quit are minimal wage growth, lack of opportunity to advance, too much overtime, a work environment that doesn’t encourage team work, or a boss that didn’t allow flexibility. This is who they are; they want a lot and have been led to believe they know a lot by becoming managers at a fairly young age. If you’ve ever been managed by a Millennial (and probably if you’ve raised one), you know what I’m talking about.
While competitive pay and benefits are important to Millennials, so are working with bosses who support their efforts to work on professional and personal goals, working flexibly while staying on track for promotion, alternative schedules and paid parental leave. It’s pretty easy to see why Millennial resumes with a 5-year job history may have an average of a year per job (or less). Millennials are also the most willing to switch jobs, change careers, forego an opportunity for a promotion, and move their family for a position. They are less likely to take a career break after having children (women probably skew this number since there are more women professionals than ever before, and they understand they might be penalized for interrupting a successful career to take time off to raise children). Given their preferences, some doubt that Millennials can excel given the rough and tumble professional marketplace.
Will Millennials Overhaul Big Law? Many Millennial attorneys would like to change Big Law (and many hope they will ), but certain aspects of working in a large law firm are unlikely ever to change. It’s hard to reconcile flexibility, team work, no overtime, advancement opportunities and the flexible schedule Millennials value with Big Law environments. Partners still look for plenty of face time, and although things like flex-time, collaboration and virtual practices are part of new models of legal practice, they continue to be lacking in large law firm environments.
There are certainly those Millennial lawyers who leave Big Law to purse endeavors in legal tech, environments that are less churn and burn, or leave law altogether because it’s not what they thought it would be. That really isn’t changing Big Law, but rather leaving it. It is true that Millennials are probably better informed than any other group of lawyers who came before them given the information available. Most know what they’re getting into when accepting a job with the highest starting salary law has to offer. Some still have more traditional views and envision a partnership track that includes them. They are willing to work the long hours and within the system as it exists to reap the benefits that ultimately (they hope) will be there when they ascend to partnership.
As with many things these days, there seems to be a big divide among Millennial lawyers – those who are still willing to grind out the work in the quest for partnership, and others who can’t stomach the toil and sacrifice working at a large firm dictates. More than in the past, Millennial associates jump from ship to ship, understanding that they can increase salary and (maybe) find a better environment. And indeed some do succeed in changing certain aspects of their environment. For example, there areMillennials doing marketing and practicing in ways that seem revolutionary among law firms. But it is unlikely that most Millennials in Big Law will remain long enough to see it change too much, especially given the skepticism about the Big Law model’s ability to adapt to new competitors and structural changes that will continue to take place over the next decade.
How Will Changes In Legal Service Delivery Affect Millennials? A recent Deloitte report discusses law firms of the future and changing business models. The report makes a number of conclusions, among the most important, that fewer traditional lawyers will be needed in firms. Millennials have already seen this happening over the last eight years, and between the recession and the advance of legal technologies, have suffered from it. It is much more difficult to come out of law school and obtain a traditional law firm job with a partner trajectory. The report also mentions “reformed workforce structures” and “alternative progression routes” which is a euphemistic way of saying young lawyers will need to look at different alternatives for practice. Millennials cannot count on graduating from law school, taking an associate position in a law firm and staying there for a decade, much less the rest of their careers.
While some Millennials might like greater flexibility, others lawyers desire a transparent career path. The need for new ways of working and looking at career trajectories for young lawyers also indicates a continued instability in the market for legal jobs. This sometimes gets over-shadowed by a focus on the flexibility and freedom newer models of practice offer. We’ve already experienced a tremendous explosion of business models built around contract and temporary attorneys which have become commonplace in corporations and even in some law firms. There is also expected to be a greater willingness to source and hire from other industries and non-traditional legal backgrounds. This does not bode well for Millennial attorneys as a whole. This trend has been increasingly, and I believe it’s a permanent wave. Law firms and legal departments have needed business people for a long time to take care of budgeting, manage legal work, and undertake process improvement, technology adoption and automation initiatives. In general, these are not among lawyers’ strongest skill sets.
The need for a new mix of skills, greater flexibility and mobility over the next ten years are also predicted in legal. While some may see this as a benefit to Millennial attorneys given their predispositions, some young attorneys are not equipped with the soft skills and business acumen that are becoming increasingly important. And law schools have done little to train law students in these areas. Millennial attorneys would do well to focus on developing those market-relevant skills to be able to compete in a market where less and less jobs are available to young attorneys.
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