Indian lawyers are in demand like never before. Foreign law firms and LPOs have entered the race to snap up the best candidates. How can local practices and in-house legal teams withstand the onslaught?
As bankers in the West live in fear of salary cuts and redundancies in the face of financial turmoil, lawyers in India can sit back, somewhat relaxed and highly assured of their job security. The steady growth of the Indian economy and increase in the demand for high-end legal work have resulted in a recruitment crunch. Salaries are skyrocketing, lawyers are jumping from one employer to another and law firms are struggling to attract and retain talented individuals.
“Recruiting the best talent was never easy, but recently, retaining them has become even more difficult,” says Dinesh Sharma, head of Personnel Junction, a Delhi-based recruitment consultancy.
“There is a total change in the nature of the legal profession and the churning continues,” says Sumeet Kachwaha of Delhi-based law firm Kachwaha & Partners. “We are witnessing a whole new ball game in matters of recruitment and retention.”
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