In its fourth edition, the Bright Insight report continues to reveal shifts that impact 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 takeways…
BUSINESS & FINANCIAL DRIVERS