The generation game: are law firms ready for the millennial challenge?
Call them what you will — ‘Generation Y’, the ‘millennials’ or perhaps ‘Generation Why?’ as they question everything — this social group that grew up with the internet is now firmly entrenched in the workplace. In fact, the first Gen Y chief executive officer to lead a FTSE 350 company will be appointed by 2016, according to a report published by Deloitte. And with it comes a whole new way of working.
Dedicated to technology, the millennials are as praised as they are berated for their devotion to social media and dexterity in switching from one device to the next. This brings opportunities as well as challenges for both employer and employee. Witness, for example, the surge in popularity of bring your own device (BYOD) where employees use their own tablets, phones and laptops for work.
But while BYOD offers flexibility, it is a potential security risk. Less than a third of businesses in Europe with more than 1,000 employees have a formal BYOD policy, but almost all British businesses (97 per cent) have suffered or anticipated a BYOD security breach, according to a study by Samsung…
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Briefings from Totum
With US firms becoming more dominant internationally, so is the scene set for increasing rivalry between them and the leading UK set – as each vie for a place among the global elite.
Policies in place for years need to be questioned about whether they are still viable to attract and retain the best legal talent.