Welcome to the May LR Legal round up
Here we have highlighted the top legal news in the UK during May in case you missed it! As well as an update from us about what’s been happening behind the scenes at LR Legal...
Employment news is changing fast.
A Brexit bonfire of employment laws has been narrowly averted for now. But battle has been joined on the streets and in the courts over far-reaching new legislation designed to undermine and curtail strikes
UK government scraps plan to replace all EU laws by the end of 2023.
Rishi Sunak had promised to review or repeal EU laws in his first 100 days in office during his leadership campaign last summer.
Nearly half of companies swapped external lawyers in the past week.
Law firms cannot assume they have a fixed place on a client’s roster, with 45% of clients changing which practices they allocate work to in the past year, new research has warned.
Reputation has also dropped “dramatically” in importance for keeping a firm top-of-mind, according to Thomson Reuters, as “firms of many types — including alternative legal services providers (ALSPs) — offer a range of options to legal buyers”.
Cost of practicing to rise sharply as SRA and Law Society unveil budgets.
Solicitors’ practising fees are set to increase substantially this year, with the Solicitors Regulation Authority (SRA) and Law Society needing an extra £9.3m to fund their work.
A consultation issued by the SRA proposed a £10m increase in its budget for 2023/24 to nearly £98m, of which £67.6m – an increase of 11.7%, or £7.1m – will come from practising fees levied on firms and individuals.
Law Society hails free trade deals.
New free trade deals with Australia and New Zealand that have taken effect will help deepen market access for UK lawyers, the Law Society has said.
President Lubna Shuja said: ‘The ratifications of the UK trade deals with Australia and New Zealand are a positive development for legal services. Both agreements lock in the existing right for UK lawyers to advise clients on home-country law and to provide arbitration, mediation and conciliation services in the other jurisdiction using their home-country qualifications and title.
LR Legal insight
There’s a gap in the Paralegal market, here’s how to solve it.
When it comes to paralegals, there is a definite gap in the market, one that is impacting a number of law firms. With many experienced, talented and skilled candidates making the move to Training Contracts in a bid to further their careers, many firms have been left with a shortage of top talent to choose from. This gap in the market is also due to the gap left by COVID-19, a time when a lot of experienced candidates were unable to progress.
How do you secure top talent in today’s market and keep them?
The last two years have been a steep learning curve for the jobs market, and never more so than in the legal sector. Post-pandemic, the market has changed drastically- and while things are certainly starting to get easier, challenges still remain.
Here at LR Legal, we’re acutely aware of the struggles employers face right now, and we know how vital it is to recognise the impact of the changes that are taking place in the legal industry. So how can LR Legal help law firms not only secure the top talent in today’s difficult market but keep them too?
LR Legal News
LR Legal are thrilled to announce that in May we have taken on a new locum consultant, welcome to the team, Russell Fogarty!
As of the end of June, Lucy Osborne will be on maternity leave, we are enjoying the last month with her before the baby arrives!
What are the top jobs this month?
Our client offers excellence beyond the City not only in terms of the work it carries out, but also for the opportunities it offers its lawyers. The Private Client team is central to the firm’s current and future business and comprises 23 specialists including seven partners and an in-house accounting and trust management function.
Our client offers a supportive and collaborative work environment, along with competitive compensation and benefits packages. The firm has many accolades as an employer of choice and outstanding diversity and inclusion including being named as one of the Times 200 Best Law firms in 2022!