Allen & Overy (A&O) is to roll out a flexible working scheme in a bid to retain staff struggling to find work/life balance.

The magic circle law firm is consulting on a new initiative that will allow all staff – including partners – to work reduced hours or part-time.

The firm said the consultation is part of a push to retain talent within the firm. While it is intended to help female staff balance work around childcare, it will not be limited to this. Employees who are ill or those with elderly or sick relatives to look after will also benefit.

Details of the scheme are still under consideration but the firm expects it to be rolled out by the end of the calendar year.

As part of the initiative, senior partner David Morley has consulted the partnership over the last few months about how to provide flexibility for partners.

The plans add to existing services such as emergency childcare facilities and maternity coaching for pregnant employees.

A&O director of human resources Genevieve Tennant said: "We want to make sure people have a range of options and alternatives. Flexibility is an important element in retaining talent within the firm and whatever solutions we come up with, they can't be gender specific."

A&O's move comes as Norton Rose launches a review looking at how to improve retention of female staff. Global director of people and talent development Andrew McEachern is leading the initiative, which is expected to conclude this year.

Norton Rose chief executive Peter Martyr said: "It is our highest level staffing project at the moment. [McEachern] will be looking to investigate what we are doing and I want us to consider quite radical options. The cost of losing staff, especially considering the level of training you put in, is huge."

Allen & Overy on the Legal Week Wiki