Contact
Subscribe to the newsletter
Leader in legal information systems
Research
You are here :
  1. Home
  2. Top 5 Trends Expected To Impact Most Legal Organizations
Top 5 Trends Expected To Impact Most Legal Organizations

Top 5 Trends Expected To Impact Most Legal Organizations

Published on : 12/03/2024 12 March Mar 03 2024
Blog
Articles 

In-house counsel already deals with many challenges. They have high-pressure jobs that require incredible attention to detail, quick turnaround times, and intense demands.
On top of the difficulties they have always faced, changing trends add to this pressure. These trends include increased remote work, high demands for legal services, the impacts of inflation, and much more.

We identify 5 trends expected to impact legal organizations over the next several years to help you prepare.

1. Increased Adoption of Remote Work

Remote work has been increasing for over a decade, but it saw a rapid uptake due to the Covid-19 pandemic. Businesses and in-house counsel were forced from the office.The only way to work for many was to do so from home.

This increased adoption of remote work brings many changes for legal organizations:
  • Increased flexibility working from home or the office
  • Ability to work effectively while traveling
  • Cost savings when companies do not have to provide workspace

However, one of the primary challenges for in-house counsel and corporate lawyers has been an even further intrusion on their work-life balance. Lawyers often struggle with this balance anyway, but now work can follow them home even more easily. Legal organizations need to be ready to handle remote work and choose technology that makes their lives easier, not harder.
 

2. Ongoing High Demand for Legal Services

There is a continued rise in demand for legal services across nearly every sector. This is especially true for in-house counsel working for large corporations and other entities.

The recent economic booms and struggles have kept attorneys busy, yet employers have largely avoided hiring additional attorneys in-house to save on costs.This translates into longer hours and higher workloads for already busy lawyers.

This demand requires a new approach to legal technology and workforce management. Legal organizations must empower their teams with the right software. It can help lawyers do their job well and increase return on investment for employers.

3. The Impact of Inflation and Potential Recession

Rising inflation continues to impact businesses across the board, including in how they handle their in-house counsel. Legal organizations continue to see increased overhead costs, higher salary demands, and much more.

The specter of a potential recession continues to haunt legal organizations as well. Businesses must hire and plan for the current market but be prepared for a potential recession simultaneously. Advances in legal technology help organizations prepare for the worst and take advantage of the current market.

4. Talent Acquisition Problems

More companies seek and cultivate legal talent yet struggle to retain qualified attorneys. This pattern is familiar to the entire business sector, but it uniquely impacts in-house legal teams.

The "great resignation" continues to impact legal organizations, with nearly 70% of corporate lawyers saying they would likely leave their current position within the next year, according to the Wolters Kluwer Future Ready Lawyer survey. New attorneys expect advanced technological capacities that streamline their work and help achieve a better work-life balance than previous generations expected. This can pose a challenge for organizations unprepared to meet these demands.

5. Cloud Access and Security

More in-house teams expect cloud-based services that give them access to their information from anywhere. The right cloud business management software reduces risks and improves operations for legal organizations by:
Another continuing trend is the security issues surrounding cloud-based services. Many legal organizations use a basic cloud service that offers little in the way of services but even less regarding security.

Breaches and hacking continue to be a pervasive problem in the business sector. Legal organizations must be prepared by using cloud-based software with robust security protections.


Stay Ahead of the Trends

Each of these trends will likely continue well into the future. These problems can seem daunting, but the right technological solutions can help you stay ahead of these trends and your competition. 

Your legal software should prepare you for the coming changes. It can help improve your efficiencies, reduce manual tasks, and provide you the edge you need in this competitive marketplace.
Share on
Tweet this article Share on LinkedIn Share on Facebook Send by E-mail

History

<< < 1 2 3 4 5 6 7 ... > >>