It’s review and prediction season in the law firm world, as various commentators and consultants issue their annual thunderclaps. I’ve long admired this work, both for the labour involved and the ability to help set the discussion agenda.Our community does not need another meditation on the future, but I thought it might be helpful to define a set of benchmarks against which law firms can gauge themselves. Amid the various warnings and prophecies, I offer ten statistics (marked in bold) to which you need to pay close attention. Those who master their relevance to the operations of their firms will have a pretty fair picture of what just happened and, perhaps, what’s likely to be ahead.
For those short on time: The core messages offered here are to stay close to your restless clients, step up to the challenges of managing your talent, and remember that you have a purpose beyond profitability. If you get those aspects right, your place in the pantheon will be secure.
