As all lawyers across the globe wonder how their firms are fairing in the wake of the Covid-19 pandemic, Crasner Consulting continues to track the strategies adopted by law firms.
Our recent research has prompted us to compare our findings with the measures implemented by law firms during the 2008 Global Finance Crisis (‘GFC’).
Take a look at our comparison between the global financial crisis and today. Are we likely to see more severe measures, introduced by law firms over the coming months, similar to the GFC in terms of headcount cuts? What will the impact of those cuts be on lateral recruitment, associate compensation and trainee retention?