Stats Of The Month
In this issue of Above The Law Highlights, we are spotlighting the most impactful stats that are shaping the legal landscape. We're diving deep into the rapid adoption of generative AI in law firms and its transformative effects on legal practice. From productivity boosts to shifting client expectations, these numbers paint a clear picture of an industry embracing technological change. Join us as we explore how these trends are redefining the future of legal work and what they mean for your practice.
That’s What I Want
By: Vera Djordjevich
The factors that prompt Biglaw lawyers to make a lateral move.
Money is the main motivator for Biglaw lawyers deciding whether to remain where they are or to change firms, according to a recent Above the Law/Lateral Link Report.
In a survey of more than 700 lawyers, the majority at Am Law 100 firms, attorneys were asked what would make them consider a lateral move. Higher compensation was the most influential factor, cited by 61% of respondents. Better work-life balance followed, at 57%.
Money also plays a key role in the reasoning of attorneys who plan to remain at their current firms. Although many appreciate the work environment (48%), the work-life balance (39%), and their firm’s prestige in specific practice areas (38%), compensation (58%) was the number one reason attorneys gave for staying put.
For more insights into the lateral market, including which firms attorneys most want to work for and what makes them so desirable, download a free copy of the report.
Gen AI Versus Outside Counsel
By: Jeremy Barker
Will tech-savvy law departments need less outside help?
As corporate law departments increasingly adopt generative AI, a majority?of them expect the technology to reduce their reliance on outside service providers for routine tasks, according to a new study.?
A survey of 475 law department professionals by the Association of Corporate Counsel and Everlaw reveals that 58% of legal departments believe that generative AI will reduce their dependence on outside providers.
In a statement announcing the results, the organizations noted that this proportion more than doubles the 25% of respondents to a 2023 survey who said they planned to reduce the number of law firms they would engage with during the coming year, with cost-effectiveness cited as the primary reason.
“The expectation for in-house teams to cut costs with AI is becoming a reality, with over a quarter now reporting savings,” Gloria Lee, Everlaw’s CLO, said in the statement. “In just three years, AI technology’s accelerating impact on corporate counsel has begun to reshape in-house legal functions, spurring a sea change across the legal industry.”?
领英推荐
Is Bullying Endemic To The Profession?
By: Vera Djordjevich
New study finds that one in four lawyers have been bullied on the job.
Many lawyers believe that bullying behavior is ingrained in the culture of the legal profession, according to a recent study, and almost one-fourth say they have been victims.
A survey of more than 6,000 lawyers by the Illinois Supreme Court Commission on Professionalism revealed that 24% of lawyers have experienced bullying on the job within the last year, but only 20% of those who were bullied reported it to a supervisor or human resources.
According to the report, rates of bullying are particularly high among female lawyers (38% of women compared to 15% of men), as well as among lawyers of color, LGBTQ+ lawyers, lawyers with disabilities, and younger lawyers.
The survey defines bullying as “inappropriate behavior intended to intimidate, humiliate, or control the actions of another person, including verbal, nonverbal, or physical acts.”
Workplace bullying affects 1 in 4 lawyers, study finds [Reuters] Data From Commission Study on Bullying in the Legal Profession [2civility.org]
GCs In The Dark???
By: Jeremy Barker
The C-suite shares some gen AI data.
Bringing generative AI into a corporate HR function would probably draw some questions from the legal team.?
But a new survey by Littler Mendelson that was flagged by Law360 this week suggests that many GCs are simply unaware the tech is being used.?
The “2024 AI C-Suite Survey Report” draws on responses from over 330 U.S. executives.?
Littler’s report notes a “significant disparity” between GCs and their colleagues in HR: Just 18% of chief human resources officers report that their organization is not using any AI for HR functions, while 52% of chief legal officers or general counsel — nearly three times this proportion — say the same.?
“This and other findings in the survey suggest a lack of alignment between key members of the C-suite,” Littler said in its report, “which creates significant hurdles.”?
Do GCs Even Know Company’s AI Use? Survey Raises Doubts [Law360] Littler’s 2024 AI C-Suite Survey Report [Littler]
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