Flexible working environment sparks more than 250 applications in the past year to join chambers-style firm.
More than 250 lawyers have sought a route out of traditional practice in the past year to apply to join chambers-style Keystone Law, the stock exchange-listed business claimed last week.
Keystone, which enables lawyers to work remotely and keep 75% of their billings, said that 21 applicants a month tried to join in 2017/18, up from 17 a month the previous year.
The information was released along with interim results for the six months ended 31 July. Pre-tax profits rose by 40.3% to £2.3m on revenue 30% higher at almost £20m.
The firm took on 31 new lawyers in the first six months of this year (up from 20 in the same period of 2017), with the average age of new recruits falling from 50 to 46. This suggests the agile working model is appealing to younger candidates rather than solicitors looking to wind down their careers.
Keystone said traditional firms working in an increasingly ‘commoditised’ sector are now increasing billing targets while expecting partners to develop the business and manage the practice.
With equity partnership no longer seen as the ultimate goal, experienced lawyers are instead seeking a flexible working environment.