BigHand 2023 Legal Industry Report
Open book with research and data on the pages. The research pertains to the legal industry's response to new market dynamics.
CHICAGO, August 8, 2023 (Newswire.com) - The latest research on how firms are responding to new market dynamics and economic downturns from BigHand was released today. The newest report in the series focuses on the conflict between law firms and legal staff over hybrid working. While hybrid working was initially embraced with enthusiasm following the pandemic, recent developments have led to firms pushing for a return to the office to maximize productivity and boost efficiency. Staff, however, are reluctant to move back to the office after benefiting from flexible working and a better work-life balance. Firms now face numerous challenges in striking the right balance to keep workflows efficient and profitable while meeting client expectations.
The research highlights that the current hybrid model is not delivering optimal results, especially for lawyers who find themselves burdened with administrative work due to the lack of visibility and engagement with support staff. The statistics show 23% of respondents still say lawyers are doing more work themselves, rather than delegating due to hybrid working. The consequences of these inefficiencies are significant, with clients now demanding complete transparency in resource utilization and looking for the most cost-effective resource to handle their legal work.
Key data from the report includes:
- 75% of respondents confirm they have experienced a drop in demand for legal services over the past 12 months
- 91% of respondents - and 96% of Support Managers - confirm that hybrid working would improve with better visibility of workloads
- A third (31%) of legal staff would also like to have more flexible working hours.
- 50% of firms are still reliant on manual processes and reporting to manage the volume of tasks sent from lawyers to support staff
The in-depth market research provides valuable insights to better navigate hybrid working without efficiency losses. Working models and employee expectations have changed and law firms need to create a far more effective approach to the allocation of tasks - one that supports the expectations of both staff and clients. Without improvements in operational efficiency, firms will struggle to retain staff, clients and profit in the face of new economic and commercial pressures.
Chief Marketing Officer, BigHand
Original Source: New Research Confirms Lack of Visibility Creating Stand-Off Between Law Firms and Staff Over Hybrid Working