Wednesday, May 23, 2018
American Lawyer, Law Firm Survey Says Millennial Era Is Here, But Change Has Just Begun:
Millennials now make up the largest generational group of attorneys in the U.S., and a new study finds that they are poised to bring about an unprecedented change to a traditionally static legal industry.
A new report by global real estate services firm Cushman & Wakefield, in collaboration with ALM and Law.com, found that as millennials make their way through the ranks at law firms, their demands for change in their work environment will recast how firms structure their compensation, real estate decisions, information technology and flextime policies.
Millennials now account for 43 percent of attorneys, outnumbering Gen Xers and baby boomers in the legal industry, the study found.
“[Their] top 5 [priorities], other than money or compensation, are all about warm, fuzzy things—a collegial work environment, work-life balance, mentoring, and exposure to clients."