Law firms consider the cyber threat to be greater than one year ago, the second greatest threat behind Brexit, Law firms are increasingly targeted as they hold both a wealth of sensitive data and large amounts of client money. Naturally, this has increased the demand for leadership roles such as CISO and CDO will become more prevalent within Talent Acquisition.
There has been a clear trend of law firms adopting an expansionist strategy (whether that be through a merger or organic growth) to turn themselves into full service, global players or, at the other end of the spectrum, keeping themselves more boutique and focused on what they excel at.
The Legal Process Outsourcing business is buoyant and the potential with outsourcing of legal services is still massive. Firms are outsourcing vast amounts of work to other countries for greater efficiencies. And with Brexit looming, more firms are considering location as a key factor to future success.
Across all legal businesses, retaining talent in a crowded market is becoming increasingly difficult, with tough competition both within the industry, and from US firms and the accountancy “Big Four”. Yet, diversity and inclusion are still issues as Law firms are seen to be too slow to adopt the needed changes.