The most dedicated readers of The Mid-Market Report may have noticed that in each week’s law firm leader Q&A, we ask how the firm is appealing to the millennial generation. Despite the drumbeat of reasons why millennials are ruining everything, law firms have no choice but to employ them and let them rise through the ranks—after all, they’ve already become the largest generation in the U.S. labor force as of 2017.
Well, the tables have turned. As it happens, many millennial lawyers think things were already ruined when they arrived on the scene, and even more believe their generation will be the one to fix it.
A recent story in The American Lawyer noted some interesting takeaways from a survey of millennial lawyers, conducted by Major Lindsey & Africa and Above the Law.
More than half the lawyers surveyed said the law firm business model is “fundamentally broken,” The American Lawyer reported. But an even greater number, 62% of respondents, said millennials are transforming law firm policies and culture for the better.
“There’s no question that this generation operates differently than their predecessors, and the law firms that are best situated for future growth are the ones that are open to changing the status quo,” Ru Bhatt, managing director of Major Lindsey’s associate practice group, said in a statement.
So what do they think is broken?