New Data from Withum Gives Insight into Law Firm Management in 2023 – PR Newswire
PRINCETON, N.J., Nov. 16, 2022 /PRNewswire/ — Withum, a Prime 25 advisory and accounting agency, launched outcomes from its annual Regulation Firm Management Survey. Regulation Firm Managing Companions, Chief Authorities Officers and completely differents in leadership roles shared their views on the influence of distant work and The biggest method forward for law practices.
Survey knowledge from Regulation Firm leaders spotlight the influence of distant work and altering financial system on agency administration in 2023.
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Staff versus lawyer return to work standing
“Regulation agency leaders are cautiously optimistic about monetary efficiency Inside The approaching yr, regardmuch less of persevering with threats of an financial downturn,” said Marci Taylor, JD and Principal of Withum’s Regulation Advisory Providers. “Thriving in a hybrid work environment Continues to be a precedence problem, as corporations proceed to rethink their bodily space, staffing, know-how and sustaining agency tradition with a distributed workforce.”
Highlights from the report embrace:
- 54% of respondents said they decided to have a hybrid work environment completely, with ancompletely different 19% saying that legal professionals are nonethemuch less solely again Inside the office half-time or hybrid.
- Only 12% of legal professionals said they returned to the office full-time, As in contrast with 40% of staff.
- Firms are nonethemuch less cautiously optimistic about common will enhance in monetary KPIs for 2023, although much less so than in 2021.
- Firms anticipate To Increase costs much less aggressively than On The top of 2021.
- Getting collectively in particular person, internally and with consumers and potential consumers …….
