The internet sector has been among the top 3 hiring sectors in the last two fiscal years, accounting for approximately 14% of the total legal hiring each year based on our previous editions of Vahura Insights.
To grow, expand and protect their market position in a sector that has seen unprecedented growth in the last few years, internet companies are building a robust legal strategy to gain the required competitive advantage and mitigate the legal and regulatory risks associated with this growth. As a result of this increased focus on legal, internet companies need to make a strategic decision on internalising and outsourcing their legal work.
At Vahura, on account of our close work with the legal industry, we have a unique vantage point on the evolution of corporate legal departments and their hiring strategies as they are today. Our research indicates that the following trends are shaping the hiring of legal professionals in the internet sector.
Hiring of legal professionals in the internet sector is on the rise.
The demand to hire the first legal counsel has increased exponentially.
The internet sector is currently in the midst of a war for legal talent.
Companies with a holistic total rewards strategy will be winners of this talent war.
The future of corporate legal departments lies in the right mix of talent, process and technology.
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