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The economic outlook for firms in 2023 is challenging. Law firm overhead expenses have risen to their highest levels in over 15 years, demand growth is slowing, and for the first time, the annual average rate of inflation (5.0%) is exceeding the average worked rate increase across the market (4.8%) and clients, feeling their own inflationary pressures, may be challenging invoices more frequently and aggressively or simply slowing down their payment cycles.
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By Melanie Trudeau
For law firms seeking to thrive in today’s competitive landscape, partnering with a specialized marketing and PR agency is a strategic imperative. Agencies possess a deep understanding of the intricate balance between legal expertise and effective brand communication.
By Sharon Meit Abrahams
By investing in its next generation of attorneys, a firm is investing in its future. Training is an investment of money and time that will pay off. Specifically, training new partners helps them develop the necessary skills to become successful attorneys and eventually leaders in their firms.
By Joel Wirchin
As organizations strive for growth into the future, outsourcing helps to find the balance between risk and opportunity, between cost and access to new skills and capabilities, curating innovation, and incorporating new remote working norms.
By Anthony Davies
While many firms have, in fact, embraced hybrid operations, the meaning of hybrid has evolved from “office optional,” to an average required 2 days a week, to now many firms coming out with four-day work week mandates — this time, with teeth.