Corporations could find themselves in the throes of a dangerous cycle; excessive workloads drive away in-house counsel, and as more people leave, the work builds up, exacerbating the already excessive workload and driving more people away. This cycle, if allowed to spin unchecked, could escalate quickly, warns a report from Axiom and Wakefield Research.
Legal departments worldwide are witnessing a snowball effect of attrition. The cycle begins with a small event, such as a single team member departing. The work they were handling doesn’t go away with them, instead, it falls onto the already-full plates of the remaining team members. The increased workload, in turn, may prompt more departures, thereby initiating a potentially uncontrollable cycle.
As the in-house counsel turnover increases due to the excessive workload, companies face the herculean task of handing over ongoing legal projects to new hires who need to acquaint themselves with the scope and intricacies of these assignments, potentially causing slowdowns and bottlenecks. Furthermore, increased turnover could also lead to a significant loss of accumulated knowledge and expertise.
A report from Axiom and Wakefield Research lays bare these worrisome developments, urging corporations to intervene swiftly to disrupt the vicious cycle before things spiral out of control. In doing so, businesses can work towards maintaining the stability of their in-house legal teams, preserving valuable institutional knowledge, and assuring the smooth execution of legal tasks.