Results from Withum’s 2023 Law Firm Leadership Survey
Dive into our discoveries of the latest legal industry trends as you plan for your upcoming year.
A Glimpse Into Our 2023 Report Findings
- Sixty-three percent (63%) of our survey respondents ranked in-person meetings with potential clients as their most or second most important marketing priority.
- There has been a slight increase in the number of law firms that use the alternative fee arrangement system, as seventeen percent (17%) of firms report that AFA's account for at least 50% of firm engagements, up from eight percent (8%) in 2022.
- Seventy-five percent (75%) of law firms stated they are focusing on retaining valued staff through competitive pay, sixty percent (60%) are committed to promoting a healthy work-life balance for employees, fifty-nine percent (59%) will allow for flexible scheduling opportunities, and fifty-six percent (56%) believe that strengthening firm culture will aid in talent acquisition.
- Forty-three percent (43%) of survey respondents said that they were in the process of developing their leadership succession plan, while thirty percent (30%) of leaders said they had a written leadership succession plan in place and were implementing the prescribed strategies.
- Thirty-eight percent (38%) of firm respondents stated they expect artificial intelligence to be used to improve firm operations. Forty percent (40%) of leadership responded that they expect to see increased efficiency in repetitive manual tasks.
Prior Report Findings
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For more information or to discuss your business needs, contact Withum’s Law Firms Services Team.