Global Legal Trends Report 2024

2023 has been a busy year for the UK legal market, and 2024 looks set to continue this trend. There are a few particular highlights that we will touch upon in this newsletter which we believe will be crucial to successfully navigating the potential challenges that next year will bring.

1. Ongoing technology integration.

Technology's integration into every legal function has accelerated over the last year, and this trend shows no signs of slowing. If anything, it will continue to gather pace next year as law firms of all sizes exploit its potential to deliver productivity savings, greater cost-efficiency and an improved client experience.

It will only be possible to reap the full benefits of this technology when lawyers and their supporting personnel are sufficiently trained and experienced in the risks and opportunities offered by artificial intelligence, data analytics, automation and cybersecurity.

2. Fixed work locations are a thing of the past.

Remote working has delivered a host of business benefits. It has allowed law firms to access the top talent, irrespective of where they are geographically located and modern technology has allowed lawyers to operate remotely with no compromise in productivity or availability. This has resulted in cost savings as large premises no longer need to be maintained and increased availability of specialist support for clients delivered at a time to suit them.?

Those law firms seeking to recruit in 2024 must remain open to all proposed working patterns and locations and should assess the communication and organisational skills of candidates at the interview stage to ensure that this way of working will be successful over the longer term.

3. Prioritising diversity and inclusion is essential for success.

Law firms that do not build and foster a diverse and resilient workforce will struggle to attract and retain clients and talented legal professionals. There is growing recognition amongst the global legal community that clients are best served by a law firm that respects and rewards the diverse backgrounds, experiences and expertise of their staff.

Forward-thinking law firms must consider how they can recruit into under-represented groups next year.

4. Clients are becoming more demanding.

In an era where same day deliveries are commonplace, clients are no longer happy to wait for their lawyer to read and consider their email. They want instant contact and regular updates, particularly when information is required to support strategic commercial decisions. Law firms planning to remain at the forefront of the industry must evolve their service offering to meet this need, using a transparent and value-driven approach.

The ability to build positive working relationships with clients and to effectively meet their needs, thinking on a commercial basis rather than being restrained to a pure legal function will only grow in importance next year.

5. People really care about corporate responsibility.

The desire to engage in ethical business practice, not only because it is the right thing to do but because it is demanded by society, is growing in importance, and law firms must continually look for ways in which they can make their business and that of their clients more sustainable. They must consider the environmental, social and political implications of their decisions and adhere to ever-evolving Environmental, Social, and Governance (ESG) legal frameworks and standards.

The UK's legal industry is continuing to adapt and evolve to meet the demands of a rapidly changing regulatory landscape, and it is necessary to hire, train and nurture the top legal talent to ensure that they are sufficiently prepared to navigate the complexities that they will surely encounter over the next 12 months.

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