In-house to take over legal sector
5th February 2014
Solicitors Regulation Authority research has found the number of in-house solicitors in the country to have doubled in the past 14 years to a record of 25,600. It is believed that the rise in this division of the sector has come as a result of organisations looking to reduce their legal expenditure with the rise of external legal fees.
It is thought that in-house legal counsel jobs now make up 18 percent of the total number of roles in the profession, with 60 percent of these being in the public sector. With the economic downturn, many companies and businesses turned to creating in-house legal positions which a general counsel could oversee and could monitor company spending and finances.
With the ongoing rise in legal costs, a number of businesses have opted for setting up in-house teams in recent years, severing ties with firms with whom they had outsourced their legal function; this development has led to increased efficiency, reductions in costs and fees and better management of risk, according to this article. The initial success of some organisations going in-house has since influenced other businesses, which has led to the huge increase in in-house teams that has been seen of late.