Regional firms continue to see staff of all types as being key to success, and total headcount increased by 3.7% in the year. At the same time, partner headcount only increased by 1.4% as firms focus on getting the staff/partner leverage correct.
Regional firms continue to invest in support staff, with non-fee earning staff making up 37% of the workforce.
Although regional firms have, once again, fared better than the City with lock-up, there has been an increase in average lock-up days, which now sit at 137 days compared to 134 last year. The profile also remains similar on a near 50:50 split between WIP and unpaid bills.
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