Axiom has published a first look at its 2024 Axiom Australian In-House Legal Department Survey Report, conducted by Wakefield Research, of 100 law department leaders and other corporate counsel Down Under, working with companies that have a minimum of $50 million in annual revenue.

The survey, conducted between 13 and 25 August, showed that the 2025 outlook for staff retention “appears even more grim” than it did last year, when “many” in-house lawyers reported being unhappy and looking to leave their current roles.

According to Axiom, job stress and burnout rates are lower Down Under than in the United States, but there are other factors impacting the overall satisfaction rates of in-house professionals, and as a result, “your legal talent might have one foot out the door”.

The news follows the publication in early October of separate findings from the upcoming 2024 Axiom Australia Legal Department Budget Survey Report that law departments are – finally – seeing an increase in their budgets, with greater spending capacity still to come.

Set to leave

According to Axiom’s findings, over one in two (53 per cent) of those surveyed said they are actively searching, or are open, to a new position. Perhaps even more alarmingly, of those not currently actively searching for a new position, 41 per cent are still likely to look for a new position in the next year.

Nearly three in five of the lawyers surveyed (57 per cent) reported that to advance their careers, they will have to change employers.

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One finding that offers insight into what those jobseekers might be thinking is that one in three (32 per cent) are seeking new roles that will allow them to apply their skill sets.

Pain points

Axiom surveyed the “pain points” that corporate counsel have, which provide some context for why so many in-house professionals may be, or are already, on the hunt for a new employer.

Only one in four (26 per cent) report being “completely” satisfied in their roles. While having such optimal levels of contentment with one’s vocational environment can often seem like a unicorn, this particular finding means that an overwhelming majority of those surveyed have at least some level of dissatisfaction in their current positions.

Adding further flavour to their thinking is the fact that 63 per cent report experiencing stress and burnout, with almost half (47 per cent) saying that such feelings are “severe”.

Moreover, nearly every professional surveyed (98 per cent) reported that there are aspects of their current work that are unengaging or not challenging. Again – not everyone can be fully happy with every minute of their working day, but against the backdrop of the aforementioned dissatisfaction, employers should be wary of ensuring that those within the law department are stimulated and motivated.

Resourcing issues

Finally, just about everyone surveyed (99 per cent) reported that their law departments “lack the necessary staffing resources” to do their jobs effectively. This is not to say, however, that department leaders are not attempting to address such issues.

Everyone surveyed (100 per cent) said that it can be difficult for their teams to hire the right lawyers to address idiosyncratic needs, and four in five (81 per cent) reported that the law firms on their panels are “not completely effective” for their needs due to the lack of institutional knowledge or practice legal advice.

To this end, Axiom also found, over nine in 10 respondents (93 per cent) said that flexible legal talent can be an effective solution – especially when considering the value or money and/or enhanced efficiency of such avenues.

Elsewhere

Earlier this month, Axiom and Lawyers Weekly hosted a webcast on the headline challenges facing law departments in the coming year – namely, budgetary constraints, staffing solutions, and continued innovation.

To view that webcast, click here.