Law firms must “adapt” to remain competitive, study suggests

A new study concerning the recruitment habits of small and medium-sized enterprises (SMEs) in various sectors suggests that many law firms need to “adapt” if they wish to remain competitive in today’s digital business environment.

The research, which was carried out by Albion Capital, found that SMEs of all shapes and sizes – including law firms – were having trouble recruiting new talent to help them keep up to speed with the digital age.

More than a quarter (26 per cent) of respondents told the survey that they were concerned their organisation lacked marketing talent, while a further 17 per cent said that they needed more IT, software development and technology specialists in-house in order to bring their company into the future.

Despite these findings, the study revealed that many law firms had actually scaled-back their recruitment of late as opposed to trying to recruit new staff in these talent pools.

15 per cent of law firms said that they had decreased their resources, while two in three firms said that they were no longer recruiting new employees.

Patrick Reeve, of Albion Capital, said that firms needed to “adapt.”

He said that an increasing number of SMEs were realising this and had already begun exploring “strategic approaches” towards recruitment and growth.