Overview
Felix Mitchell | Instant Impact
2023 saw the significant growth of Platform law firms and it is clear that in 2024 the platform firm model continues to disrupt the UK legal landscape despite only making up a relatively small part of the overall market.
However, in an impressive demonstration of their growing appeal, our report shows that platform firms have secured three of the top five positions for gross hires in the first half of this year. Even more notably, they've claimed the top two spots, signaling a shift in how senior legal talent is being attracted and deployed.
The benefits of being more flexible are becoming more evident. Platform firms offer no hierarchy or billing targets and a better work-life balance, which might explain why many senior lawyers are making the move.Although Platform firms mainly offer careers for senior lawyers at the moment, if traditional firms still want to dominate and thrive, they will need to start to think differently to maintain (or create) their competitive advantage especially when recruiting and retaining top senior talent, and Platform firms will need to keep innovating to keep up with new entrants.It's also exciting to see the new and innovative ways platform firms are using technology. After speaking to a number of forward-thinking CEOs for this report, it's clear these leaders are passionate about leveraging cutting-edge tools to enhance both candidate and customer experiences.
This 2024 Mid-Year Report provides an update on the exciting developments in this rapidly evolving area of the legal market.
Thank you to our Partners Codex Edge for providing us with the data for this report.
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