The View from Inside
2024 Hong Kong In-House Counsel Survey Report: Legal All-Stars Are Eying the Exit
A third of in-house legal professionals are looking for a new job. Even those not actively looking now will likely begin a job search in 2025. Your legal team all-stars are flight risks. But you can mitigate that—if you prepare now.
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What Will I Learn?
Insights into the rising attrition risk and more are covered in Axiom’s 2024 Hong Kong In-House Survey Report,* which focuses on the top challenges reported by in-house legal teams, including shifting career priorities; the tidal wave of AI use among legal teams and its stated risks and rewards; and an ongoing struggle with legal talent resourcing.
*The 2024 Hong Kong In-House Survey Report was conducted by Wakefield Research, and commissioned by Axiom, among 100 Hong Kong in-house counsel at companies with a minimum of $50 million in annual revenue.
Most In-House Lawyers Have One Foot Out the Door.
A third of in-house legal professionals are on the hunt for new job opportunities, which is concerning news for any legal leader already grappling with an overstretched and under-resourced team. The situation becomes even more alarming when you learn that, among those not actively searching for a new position, many still anticipate changing roles within the next year, with many looking to leave the in-house field altogether.
In addition to competitive compensation, it appears there’s a focus for new roles that allow lawyers to apply their skills and expertise.
Despite AI Risks, Legal Teams Lack Policies and Training.
AI is becoming integral to improving the efficiency of legal departments and their work, especially for teams struggling with bandwidth constraints. But the ungoverned use of AI tools and tech—many unapproved by companies—invokes serious, if not existential, risks. Cybersecurity, confidentiality, and accuracy concerns are recognized, with all (100%) in-house counsel surveyed acknowledging these risks.
Despite this, more than half (628%) of teams lack formal AI policies, making it crucial for legal leaders to ensure they implement safeguards and training as quickly as possible, especially as only 22% said they’ve received sufficient training for using AI tools in their legal work.
Team Resourcing Gaps Add to Dissatisfaction and Stress.
A striking 93% of in-house counsel reported their departments lack the necessary staffing resources to meet their job responsibilities, and nearly all (98%) reported common obstacles that hinder their teams' ability to work efficiently. The top frustrations? Spending way too much time on administrative tasks without the staffing bandwidth.
While strategic alignment between in-house legal and the broader organization is positive, tensions between in-house lawyers, legal leaders, and legal ops professionals stifle productivity, effectiveness, and well-being.
How can legal leaders balance team efficiency, cost-savings, and work quality while also supporting their team’s career and aspirational goals?
To retain in-house talent, companies must strike a harmonious balance between meeting their staff’s career aspirations and overcoming the persistent resourcing hurdles they face. This third annual "View from the Inside" report offers legal leaders the keys to retaining talent in 2025.