I do not like the term millennials - and to be honest I am not entirely sure what demographic it actually refers to.
But, having spent a couple of days working from the WeWork offices in central London, and with a two day conference starting today (www.millennial20-20.com) focused on this group, I do wonder how professional services firms might respond.
There has been a huge increase in very young entrepreneurs. Many of those entering into the workforce in 2008 with pretty bleak prospects decided to set up on their own. The days of learning your trade first and then launching your own business have long gone.
And what would a 21-year old, working from their MacBooks in coworking spaces, make of the fusty middle aged lawyer sitting a large office?
Many law firms are responding - an office or desk in these spaces - but the delivery model hasn't changed. A nugget of free advice is usually followed by the typical hourly billing.
LegalTech will undoubtedly change things, but young entrepreneurs look for engagement, discussion and support in building their dreams.
Perhaps this is an opportunity for younger lawyers. With the partnership increasingly unobtainable for many, perhaps unleashing them, inspiring their creativity, might be a way for big law to reach out to millennials.
With millennial entrepreneurs who embrace change, face the fast-paced world of technology head-on and aren’t fearful of pushing boundaries, we are witnessing the rise of the most entrepreneurial generation in history.
http://www.millennial20-20.com/blog_inner.php?information_id=100