Is Now The Time To Hire Your First In-House Lawyer?

Taking on an in-house lawyer can be a big step for any company. It’s a sign of growth and maturity, and a signal that your organisation is ready to handle legal matters with greater efficiency and effectiveness.

Traditionally, the most obvious reason a company decides to recruit their first in-house lawyer is to reduce the cost of relying on external law firms. However, there are plenty of other considerations when bringing the legal work in-house. The role of in-house legal counsel has undergone significant transformation in recent years; gone are the days when lawyers were exclusively viewed as last-resort problem solvers, called upon only when legal crises arose. Today, the role of an in-house lawyer is increasingly seen as a strategic partner, working proactively to safeguard the company’s interests, manage risk, and provide invaluable guidance on a multitude of business matters.

So, why should you hire an in-house lawyer? Let’s run through a few of the benefits.

Assessing and managing external law firms

As we touched on above, an in-house lawyer should drastically cut down on outsourced legal costs. Not only can they advise on BAU commercial and company law activities, they’re also able to guide you through complex employment law challenges, restructuring, tax and disposals. They’ll be able to ensure the legal advice you do pay for in specialist areas like litigation or pensions is cost-effective, helping to reduce overall spend.

Managing regulatory/risk issues

A good in-house lawyer will assume responsibility for all regulatory issues and will always have one eye on potential legal issues, whilst keeping the company’s key objectives always in mind. By planning ahead, they will ensure issues do not arise, or if they do, that they are managed appropriately. Because external counsel is one-step removed from your business, it can’t fulfil this same essential function.

Driving efficiency and consistency

Having one point of contact for all legal issues will simplify and streamline your company’s operations. An in-house lawyer serves as a dedicated legal resource, ensuring that your business’s legal needs are met promptly and comprehensively. With a single point of contact, you’ll no longer need to rely on external law firms for every legal matter, reducing the back-and-forth communication and time delays that can occur. In an ever-changing market, speed and efficiency are crucial for success.

Overall strategic input and business confidence

A proactive in-house lawyer will regularly provide company health checks with the corporate governance and compliance landscape in mind, whilst ensuring commercial objectives stay front-of-mind. They provide ongoing training on key legal updates and liaise with all stakeholders to provide tailored solutions. In the startup space particularly, investors are also reassured to see investment in legal and compliance functions; commercially aware lawyers play an integral part at Board level, contributing to strategic missions and facilitating growth plans.

Our legal recruitment team has a wealth of experience supporting businesses with their strategic legal hiring across a range of sectors. Whether you’re considering hiring your first in-house lawyer or you’d just like a confidential chat, don’t hesitate to get in touch.