Cision PR Newswire

Mounting workloads, concerns about AI, and limited career paths pushing
in-house attorneys to consider greener pastures

NEW YORK, Nov. 14, 2024 /PRNewswire/ -- An attrition wave is headed toward corporate legal departments, fueled by in-house attorneys who are looking to escape high-pressure workloads that only seem to grow, limited capacity and resources, and increasing concerns about AI and other legal tech.

Those are some of the key findings in the 2024 In-House Report, a new national survey of 300 in-house legal professionals conducted by Wakefield Research and commissioned by Axiom. This year's report—the third in an annual series—provides insights into in-house legal professionals' current mindset and outlook, offering information that GCs, their teams, and their organizations can act on when planning for talent retention and management.

This year's research shows that more than half (58%) of in-house lawyers surveyed are considering leaving their current positions, a notable shift in career intentions and satisfaction compared to previous years. Other issues motivating in-house teams to keep one eye on the exit include:

• Dead-End Careers: Seven out of 10 in-house lawyers surveyed said they'll need to switch employers to advance their careers. That's up 13 points from 2023, a clear trend from prioritizing work-life balance to focusing on career advancement.
  
  
• AI Adoption Challenges: While AI is becoming integral to improving department efficiency, in-house counsel are concerned about related risks, including cybersecurity, confidentiality, and work accuracy. A near majority (47%) of in-house teams lack formal AI policies to ensure good governance, and just 16% of respondents said they received sufficient training for using AI tools.
  
  
• Persistent Resourcing Gaps: Only 1 in 5 in-house counsel reported sufficient staffing to meet their department's needs, increasing the workload and pressure on the legal team. The vast majority (81%) of respondents said it's hard to find and hire lawyers who are well-suited to their team's needs. The result: frustration, dissatisfaction, and higher burnout.
  
  
• Increasing Interest in Flexible Talent/ALSPs: 91% of in-house lawyers said flexible legal talent providers and ALSPs are an effective solution to resourcing challenges, up from 74% last year.

"This should be a wake-up call for GCs and legal department leaders," said David McVeigh, CEO of Axiom. "When 70% of in-house lawyers think they have to leave their organization to move up, that's a genuine crisis facing corporate counsel. But leaders can address it with flexible, specialized talent—including talent with deep expertise in AI—that can take work off the in-house team's plate and create breathing room for in-house attorneys to focus on strategic work that is both more interesting and helps advance their careers. Legal leaders who create meaningful growth opportunities and sustainable work environments will be well-positioned to keep their top legal talent engaged and thriving."

The complete 2024 In-House Report can be downloaded free of charge at https://www.axiomlaw.com/resources/articles/2024-in-house-counsel-survey-report.

For more information or to talk to an Axiom representative, visit https://www.axiomlaw.com. For more information about Axiom, please visit our website, hear from our experts on the Inside Axiom blog, network with us on LinkedIn, and subscribe to our YouTube channel.

Related Axiom News

• Axiom Helps Companies Lower the Cost and Complexity of Commercial Litigation
• Research Reveals Insights into the Impact of Legal Tech on Australian In-House Teams
• Axiom Helps In-House Legal Teams Mitigate Impact of Annual Law Firm Rate Increases
• Michael Fehser Joins Axiom Advice & Counsel as Partner
• More Global Brands Turn to Axiom to Tackle Large Legal Projects Cost-Effectively
• Research: GCs Expect Bigger Budgets and a Shift to Agile Budgeting in 2025
• Axiom Advice & Counsel (AA&C) Introduces Fractional GC Services Purpose-Built for Private Equity and Venture-Backed Companies, and High-Growth Small Businesses
• Axiom's Expanded Portfolio Fuels Nearly 2,000 New Client Engagements Since January
• New Study Finds Legals Ops Facing Alignment, AI, and Retention Issues Even as Budgets Increase
• Axiom's Digital Legal Talent Marketplace Sees Exceptional Growth
• Axiom Appoints Jacob Flax as Managing Director of Axiom Australia
• Axiom's New Permanent Recruitment Solutions Now Available in Asia
• Axiom's AI Legal Talent Bench Surpasses 200 Lawyers
• Axiom Completes Over 250 Large Legal Projects, Expands Program with Law Firm Services
• National Study Reveals In-House Legal Teams Face a Perfect Storm of Rising Law Firm Costs and Talent Shortages Amidst Increasing Workloads and Complexity
• Axiom Introduces New Permanent Recruitment Solutions
• Axiom Achieves Industry-Leading Scores for Talent Quality
• Axiom Marks First Full Year of Innovative Law Firm Practice, Now Offers Industry's Broadest Array of Law Firm Services and Solutions
• Axiom Continues to Invest in C-Suite Leadership Team with New CFO Appointment

About Axiom

Axiom is where high-caliber legal talent meets full-service law firm work. We invented the alternative legal services industry 24 years ago and now serve more than 1,500 legal departments globally, including 68% of the Fortune 100, with 95% client satisfaction. Axiom gives small, mid-market, and enterprise clients a single trusted provider who can deliver a full spectrum of legal solutions and services across more than a dozen practice areas and all major industries at rates up to 50% less than national law firms. To learn how Axiom can help your legal departments do more for less, visit axiomlaw.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/research-a-wave-of-attrition-expected-to-hit-in-house-legal-teams-302305750.html

SOURCE Axiom