What happened to the new normal?
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Peter Weiss Joint Head of Department
Partner Corporate, Commercial & Finance +44 20 3206 2725 Email Peter
New York law firms have announced, in light of moves being made in the finance industry, that they are setting a precedent for their employees to return to the office for a minimum of four days per week.
While some lawyers and their clients have become well accustomed to flexible working, and found a more fulfilling work/life balance, bigger firms are moving back to the old normal – with a caveat that Fridays remain flexible.
While the move might be in favour of better productivity, particularly with transactions and deadlines, the counter argument is likely to be that attracting and retaining top talent will no doubt take a hit, as more and more people prioritise flexible working over and above other company benefits.
The United States is often a harbinger of trends in the professional services world, and it’ll be interesting to see how other countries follow suit. We’re keeping a close eye on developments and how the UK market will react.
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