How Does Your Firm Stack Up?
In its fourth edition, the Cushman & Wakefield Bright Insight report, based on the 2017 National Legal Benchmark Survey results, continues to reveal shifts that impact the legal sector. Firms are challenged to carefully balance the influence of a younger generation of lawyers, evaluate the value of disruptive technology, and plan for long-term succession.
There’s also a continued move toward compensation models that stress business creation and evaluation of bottom-line. With competitive fee structures cited as the #1 issue for business competition and attorneys leaving law firms for in-house counsel, firms are closely evaluating the influence of these unique challenges on their competitive balance.
Here are a few key takeaways…