The COVID-19 pandemic has had a detrimental effect on legal departments, whose organizations have seen revenue shrink as new legal challenges continue to arise, according to a new survey.
Altman Weil legal head survey It indicates that in the fall of 2020, 66% of survey respondents said their organization’s revenue had decreased, while 77% said their law department’s workload increased; employees were laid off in 11% of the statutory departments surveyed.
The report also reveals that more departments now have legal operations managers – 50% of respondents said they had a professional manager in 2020, and 46% said they had one manager in 2019.
in a Law360 InterviewNo layoffs have been reported for legal operations positions focused on cost savings, Altman Weil’s James Wilber said:
So, to me, that shows the wisdom on behalf of senior legal officials who have realized that these people are more than just paying themselves, and can help us find ways to eliminate waste, and maybe get better value or cut the cost further through outside advisors, better leverage. For technology. “
While legal processes may play an increasing role in law departments, the Field Signature Measurement Study is set to be published in the coming weeks.
The Blickstein Group Law Division’s 2020 Operations Survey It will be presented on December 8th at a “virtual summit” that provides a peek into its results.
Featuring Brad Plikstein and “Godfather of Legal Operations” David Cambria, the event will explore challenges related to the pandemic, compensation, key performance indicators, artificial intelligence, the impact of the Big Four, and more.
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2020 Chief Legal Officer Survey [Altman Weil]
CLOs see less revenue, more work as viruses persist [Law360]
Law Department Operations Survey Summit 2020 [Above the Law]