Majority of US law firm leaders expect profits to grow despite pandemic strains, study finds
09 March 2021
Majority of US law firm leaders expect profits to grow despite pandemic strains, study finds
Thomson Reuters report shows that many law firm leaders are also anticipating billing rates to rise
The Wall Street Bull wears a mask during lockdown Shutterstock Almost two-thirds of law firm leaders expect profits at US firms to continue growing despite the impact of the coronavirus pandemic on the country’s economy, according to a new study from Thomson Reuters. The Law Firm Business Leaders report found that 64% of respondents expect profits per equity partner (PEP) to experience moderate or high growth over the next three years, with PEP at large US firms increasing 11.5% on average in 2020, according to Thomson Reuters Peer Monitor data. Some 38% of law firm leaders also expect at least moderate growth in billing rates over the next year, with 64% of respondents expecting
25 February 2021
Permanent shift to home working will boost productivity but may impact mental health, poll finds
More than three quarters of respondents to The Global Legal Post survey expect less office-based work once pandemic recedes
Shutterstock; Vera Petrunina More than three quarters of business lawyers are anticipating a permanent shift to home working once lockdown restrictions end, most of whom believe this will improve work life balance and productivity, according to a The Global Legal Post poll. However, there is less agreement over the impact of this change on diversity and particularly mental health with more than a third of respondents worried mental health – already the subject of concern within the profession – will deteriorate.
Permanent shift to home working will boost productivity but may impact mental health, poll finds
25 February 2021
Permanent shift to home working will boost productivity but may impact mental health, poll finds
More than three quarters of respondents to The Global Legal Post survey expect less office-based work once pandemic recedes
Shutterstock; Vera Petrunina More than three quarters of business lawyers are anticipating a permanent shift to home working once lockdown restrictions end, most of whom believe this will improve work life balance and productivity, according to a The Global Legal Post poll. However, there is less agreement over the impact of this change on diversity and particularly mental health with more than a third of respondents worried mental health – already the subject of concern within the profession – will deteriorate.