5 Trends Reshaping the Legal Industry

The world we live in is ever changing, and our successes or failures are determined by how well we respond to these changes. In the legal industry, here are five (5) trends that will help law practitioners, firms and organizations become more efficient, productive and competitive in the ever changing global market.

1. The Multigenerational Workforce:

It is common now to find in many law firms and organizations, individuals from different generations working together in the same workplace. In the last 50 years, many legal practitioners have worked beyond retirement age and has brought about new dynamics in the work environment and legal industry, as four generations of lawyers find themselves practicing in the same industry at the same time. The diverse perspectives, motivations, attitudes and needs of these four generations have changed the dynamics of the legal workforce. A little insight into the difference among the generations can help you better understand the needs and expectations of your colleagues in an age-diverse workforce. By learning the motivations and generational footprint of each segment, you can leverage your talents and capitalize on the diversity of your legal teams. 

2. Social Networking:

Facebook, Twitter, YouTube, LinkedIn and other social media tools are key marketing tools helping lawyers and legal professionals reach a broad audience and accomplish branding, advertising and client development goals. Social networking has evidently shown great capacity to transform the business and practice of law over time. It is changing the way legal professionals recruit, job hunt, network, locate and discredit witnesses, manage their careers and interact with clients.

3. Legal Process Outsourcing:

Legal process outsourcing (LPO), transfers the work of attorneys, paralegals and other legal professional to external vendors that can be located domestically or overseas. This is a new trend in the legal industry, a global paradigm shift in the delivery model for legal services. This responds to the need for law firms and corporate legal departments to minimize costs, increase flexibility and expand their in-house capabilities.

4. Globalization:

Local law firms are expanding across borders, collaborating with foreign counsel and forming intercontinental mergers, erasing traditional boundaries on the geographic scope of law practice. Although globalization is not new, it is gaining momentum due to the growth of the internet, the automation of legal processes, development in data security and emerging technology tools. As law firms continue to expand their footprint worldwide, globalization will continue to reshape the landscape of the legal industry in the coming years.

5. Alternative Legal Service Delivery Models: 

Lawyers increasingly no longer have a monopoly on the law. The legal marketplace is changing and clients can now seek assistance from a growing number of non-lawyer professionals including paralegal technicians, legal document preparers, legal self-help sites, virtual assistants and offshore legal vendors. These new options help bring affordable legal services to disadvantaged populations and empower citizens to address their own legal matters. As the cost of legal services continue to rise, new legal delivery models will continue to emerge and gain momentum in the coming years.