Credit: Sebra/Adobe Stock Lagging Demand and Layoff Fears Give Firms Leverage Over Talent—Will They Use It?
Law firms in the U.S. and U.K. are finally in a position to enforce attendance policies and make attitude adjustments in their associate ranks, but no firm wants to be first to drop the hammer.
September 20, 2022 at 12:01 AM
7 minute read
As the full-scale talent wars of 2021 and early 2022 become isolated skirmishes—thanks to declining demand in major practices spurred by a cooling, inflationary global economy—associates, counsels and junior partners are starting to notice a shift in their status in the market. Recruiters are backing off, signing bonuses are going away, retention bonuses failed to materialize at most firms this summer, and firms' overall competitiveness is subsiding in noticeable ways.
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