Posted by: johnocunningham | November 16, 2018

Chief Legal Officers Tell What’s Up in Company Law Departments

Altman Weil’s 2018 Chief Legal Officer Survey is out, revealing the following, among other things:

  • 42% of law departments increased outside counsel spend this past year, while 32% decreased the amount – the first time in several years that increases have exceeded decreases among those surveyed.
  • 41% of CLOs said they will increase outside counsel spending in 2019, compared to 29% who expect to decrease it.
  • 31% of respondents have shifted outside counsel work to lower-priced firms in 2018, saying they are successfully using smaller law firms that offer quality work and service at considerable reductions in cost.

If you are a legal provider catering to corporations as your clients, you should be experiencing an uptick in business now, particularly if you are part of a small to mid-sized firm known for doing high quality work.

If you are not on the uptrend yet, you might want to work on your service delivery, process improvement, marketing and messaging because you are falling behind.

The Altman Weil survey has lots of other nuggets of information about law department budgets and headcounts and anticipated directions in the future, so it is worth checking out.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Categories

%d bloggers like this: