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Retrenchments not far off in legal profession

The pressure that the Road Accident Fund has created with the various direct payment threats and the pressure over the new act coming (as it eventually did on 1 August 2008) has resulted in plaintiff attorneys certainly making sure over the last few years that they have rushed to lodge their claims faster and coupled with the end of the work, led to more and more attorneys taking on smaller claims than perhaps they would have in the past.  We currently have a situation where there are probably more claims lodged with the Road Accident Fund in 2008 than ever before and with the Road Accident Fund, in my opinion, effectively outsourcing the work of settling claims to its attorneys, there has been a tremendous demand for attorneys, paralegals and secretaries for attorneys involved in this work in the last 2 or 3 years. 

That, just as we have seen in the stock market, and in the housing market, has created a bubble in terms of their salaries and in my opinion that bubble is going to burst and it is going to start happening towards the end of 2010, and certainly by 2011.  In short, what I am saying is that we are going to see a lot more retrenchments and salary negotiations that would most definitely favour the employer compared to more recent years.  The reality is that there are far too many attorneys and other employees involved in handling this work, at the average law firm at the moment, than will be required in 6 months time and certainly in 18 months time, and one can imagine that all but a few firms, that we are going to start seeing retrenchments and the like. 

Posted by Michael de Broglio on Thursday 14-Jan-10

Retrenchments not far off in legal profession


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