The Rise of the Law Scholarship?

Freshfields Bruckhaus Deringer has this week unveiled its plans to offer two law scholarships with £10,000 bursaries for University College London law students. The magic circle law firm has joined forces with UCL to kick start the careers of two aspiring lawyers each year by offering a scholarship, work experience and guaranteed training contract interviews. The successful students will also receive an eight-week paid work placement at the firm each year throughout their degree, and will be eligible to participate in UCL’s bursary scheme to recieve additional support of up to £3,500.

The scheme is intended for students from less privileged social and economic backgrounds in an attempt to make the legal profession more accessible as City Law firms are often viewed as remote to many who don’t come from a specific background or school. Promoting greater social mobility in UK businesses has been high on the agenda this year with Nick Clegg launching his ‘Business Compact’ initiative and the legal profession launching its own social mobility initiative PRIME, in September 2011. The initiative was launched to provide fairer access across the board in order for the legal profession to become a true reflection of the wider society. Both initiatives are committed to provide work experience for talented, ambitious and motivated students in the full range of careers available in the legal sector.

This scholarship is a fantastic opportunity as, not only will the successful applicants benefit from the financial contribution, but the work experience and mentoring will be equally critical to their success. Hopefully this scheme will encourage further initiatives across the profession enabling those from less privileged backgrounds to access the legal profession more readily.

Let us know what you think. Should more law firms be offering scholarships? Do you think initiatives like this will help diversify the profession? Will this greater diversification improve the legal profession?

More women, more quotas

Recently we blogged about quotas for women in the legal profession as Ashurst became the first leading UK law firm to introduce a quota for the number of women it wants to employ in management positions. The debate over women on boards and around the partnership table is once again at the forefront of discussions following David Cameron’s recent visit to the Northern Future Forum summit in Stockholm.

In the wake of his trip, David Cameron has said he will not “rule out quotas” as a way of getting more women into top executive jobs and that the Government is prepared to consider introducing legislation if organisations do not tackle their lack of female representation at the top. Cameron stated how Nordic-Baltic countries are leading the way in Europe on the issue, with a quarter of boardroom posts now held by women in Sweden, and 40% in Norway where quotas came into force in 2008.

At present, only 15% of FTSE 100 directors are women with one in ten of Britain’s biggest firms still having all-male boards. At this rate it would take a further 70 years to achieve true gender balance in the UK. A government-commissioned report has urged top firms to more than double the number of women on boards by 2015.

However the idea of quotas is deeply unfashionable as many women do not want a promotion on the basis of their gender but rather for their competence. Securing promotion for women and encouraging female entrepreneurs is the preferred option. Many feel that the best way to tackle this problem is not to impose a quota, but instead to encourage organisations to recognise all of their existing talent rather than just the element that wears boxer shorts.

The debate on women at the top looks set to continue, but changes are beginning to take place. So before quotas are enforced do you think legal firms need to stay ahead of the game and start promoting more women now before it is enforced? Let us know what you think, are quotas good, bad or just plain unrealistsic?

DMJ EXEC – New division

At DMJ Recruitment we have recently launched our newest division, DMJ Exec, which is the UK’s first dedicated company secretarial executive search agency.

The company secretarial market is home to an exceptionally talented group of professionals trained to advise companies on an array of complex regulations and help guide them through periods of corporate activity and commercial change. With ever increasing demand from clients for the more senior level company secretaries, we believe that this is exactly the right time to launch this new service.

With an extensive knowledge of the market, we are able to access a network of extensive contacts that extends beyond that of any traditional head-hunter. We have developed a detailed understanding of what makes this market tick which ensures that we are focused on the changing requirements of candidates and clients. With this new division, we are now able to offer a more bespoke approach to any business looking to recruit a senior company secretary.

For more information visit our new division http://www.dmjrecruitment.com/executive.cms.asp

 

Mergers – the next big thing?

The legal profession looks set to see more mergers taking place this year with news that Pinsent Mason and McGrigors have confirmed their merger as wells as talks between  Wedlake Bell and Cumberland Ellis taking place. So why are mergers set to be the “next big thing” this year?

Mergers are becoming more popular across a wide range of sections in the legal profession for a variety of reasons, however a key factor is that it simply makes business sense. For many firms it is a logical progression that will help expand and develop services. By partnering with another firm, it enables a practice to continue to grow rather than struggle on its own in an increasingly fragmented market.

Many UK law firms have been reluctant in the past to enter into a merger, however with the introduction of the new Alternative Business Structure, the whole profession is about to change. With news of these recent merger talks, it signifies a shift with managing partners now wanting to take the leap.

In our experience it is not just large firms that want to expand, but a lot of smaller practices are now considering this move too. As a result of considerable demand from a range of our clients to assist them in growing, we have a dedicated mergers division. And with a large network of clients throughout the UK, and our in-depth knowledge of the workings of law firms from small one person practices to huge international firms, we are well placed to advise firms on the options and opportunities available to them.

Let us know what you think – is it wise for more mergers to take place in the current economic climate? Is the risk of joining with another firm just too high?