The legal sector continues to evolve, driven by new technologies, societal shifts and a new generation of attorneys. Although industry change is inevitable, it's crucial to recognize that some changes stem from natural industry evolution, while others are more temporary. Survey results from 2024 indicate that the legal industry is preparing for these changes as it transitions to a more digitally-enabled world, all within the backdrop of an ongoing hybrid environment.
Cushman & Wakefield’s Legal Sector Advisory Group (LSAG) covers all of this and much more in the 11th edition of our annual Bright Insight report in partnership with ALM/American Lawyer. Our widest-reaching survey yet polled law firm partners and associates across the world to distill insight into the past, present, and future thoughts, nuances and practices of law firms. Utilizing our strong reputation as trusted advisors to legal services firms across the country, we have uncovered insider legal sector insights—from large firms, boutique firms and those in between—through the Bright Insight Benchmark and Bright Insight Associate Surveys.
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Bright Insight
Cushman & Wakefield’s Legal Sector Advisory Group has published its proprietary legal sector benchmark survey findings – Bright Insight.
Mid-size Firms Expecting to Grow Fastest in 2024
Legal technology has been advancing rapidly, providing attorneys with an arsenal of resources available to increase their capabilities, make their work more efficient and lessen their reliance on staff members. As a result, labor demand for attorneys has remained mostly consistent with last year’s results as law firms expect to see attorney headcount grow 5.1% on average in 2024, Staff growth rates are expected to be more tepid at 2.3% this year.The Purpose of the Office is Evolving
Law firms have been making incremental changes to their workplace over the long term, but change has been catalyzed over the last few years. When surveyed, partners indicated that they believe the purpose of their offices should be socially focused. When asked how well their firm’s office currently supports the purpose they indicated, partners across all firms believe their current workplace does an adequate job but could be improved.Want more legal services trends & Insights?
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Cushman & Wakefield’s global Legal Sector Advisory Group (“LSAG”) consists of more than 450 global advisors that specialize in strategizing, creating, and implementing real estate solutions that support the business and people of today’s legal sector.
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