Multiple sources report that in-housers are increasingly looking to exit their roles and move on. General Counsel and Chief Legal Officers should take heed, as fulfilling law department initiatives and achieving organizational success is often predicated on retaining key personnel. With some outlets reporting that in-housers are even considering a return to Biglaw, it is clear that significant shifts may be on the horizon for the legal industry. The reasons behind the trends are multifactorial, but burnout, the bane of the existence of lawyers across the spectrum, appears to be one significant factor. With the world bracing for anticipated changes as a result of the recent election in the United States, the timing is not great for many legal departments as a mass exodus will leave them scrambling at the same time organizations need their legal and advisory teams the most. With in-housers having thousands of opportunities to move on, the risks presented are not illusory.
“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…..”
