Report tracks staffing, tech, work trends in practices

By Nicole Black

The Wolters Kluwer Future Ready Lawyer Report highlights key trends impacting the legal profession. The 2024 survey findings from legal professionals across the U.S. and Europe reveal how organizations are addressing efficiency, regulatory pressures and evolving client needs to stay competitive in a rapidly changing environment. Topics covered include the integration of generative artificial intelligence into legal workflows, changing remote work expectations, and the value of work-life balance for talent recruitment and retention.

First, let’s examine the generative AI data. A notable set of statistics in the report revolved around generative AI’s potential effect on, and potential to disrupt, the almighty billable hour. A surprising 60% of those surveyed expect AI-driven efficiencies to reduce the prevalence of the billable hour moving forward, and 20% predict it will have a significant impact. Fortunately, more than half of the legal professionals surveyed (56%) feel well-prepared to adapt their business practices, service offerings, workflows and pricing models in response to AI’s potential impact on the traditional billable hour business model.

Also, 65% of legal professionals anticipated increased organizational investment in AI technology over the next three years, with 71% anticipating that generative AI’s rapid development will continue impacting firms and corporate legal departments during that same time frame.

These findings are evidence of the significant interest in this generative AI, driven by its time-saving benefits. However, trepidation exists regarding the pace of change, implementation challenges and the levels of investment and training needed.

Hiring, keeping good lawyers

Second, the report also explored perspectives on changing talent acquisition and retention trends. One positive finding was that 80% of respondents believe their workplaces are equipped to address the need for talent attraction. Key factors cited as legal talent draws included an acceptable work-life balance (81%), competitive compensation packages (79%) and opportunities for professional development and training (79%).

Interestingly, employees surveyed reported that work culture is particularly important in attracting legal talent. Almost 72% of respondents shared that they valued diverse and inclusive workplaces, and 75% believed their organizations fostered such environments.

Finally, remote work trends also were addressed. The survey results revealed a global trend toward returning to the office, despite the employee push-back often reported in the media. Most respondents (73%) reported that staff are required to work in the office four or more days per week, with this figure higher in corporate legal departments (77%) compared to law firms (69%).

Nicole Black is a lawyer, author and journalist in Rochester, New York, and the head of subject matter expertise and external education at MyCase and LawPay.