Over the last fifteen years, through a combination of market studies and custom research programs, Acritas has collated and analyzed market research data which enables law firms and legal departments to keep abreast of the main trends and market forces impacting the industry, and future-proof their organizations. This data is global and supported by more than 8 million data points! We analyze and group it around a number of key topics which can be tailored to suit your goals/objectives and delivered as an inspiring session at your upcoming events, conferences and retreats.
Acritas is well respected and experienced at speaking to large and small groups with fantastic feedback about the impact the data can make in engaging Partners and legal departments to take action. Recent audiences include:
- All Partner key note
- Sector group data and workshops
- Practice group meetings
- Diversity and inclusion
- Innovation and technology
- Facilitating client panel
- Relationship Partner events
- GC/in-house legal department audiences
Partner retreat data content is scoped fully with you to meet your objectives, some ideas of popular data-led topics are detailed below:
The research reveals the current ratios in gender diversity at the highest levels in law on both the law firm and legal department sides and agenda for change.
- We have evidence to demonstrate why gender diverse teams increase client satisfaction.
- We evaluate the gender pay gap currently observed.
- We explore how male and female clients buy differently and how to leverage this insight
- How firms and legal departments could measure themselves moving forward.
2. The future legal buyer, younger profile in focus – what’s changing?
By analyzing the responses to our questions by age break, we are able to compare the attitudes and behaviors of the over 50s to the under 50s.
- The analysis shows how the younger age group are more formal in their approach to buying, they value a broader set of qualities in the external lawyers and they are more spend savvy.
- The younger generation are less happy with the current status quo and are more favorable to the alternative legal services suppliers.
- We profile the shape of younger profile and where the buying profile is more prevalent by sector and industry
3. Innovation and its increasing importance to clients
The majority of clients are not seeing enough innovation from their clients. Those that are, tend more often to talk about the alternatives legal services providers as being at the forefront of that change and often talk about technology. Clients are giving a much greater share of wallet to firms they perceive to be innovative!
- What is innovation and who is doing it well?
- Innovation is leading to huge increase in share of wallet and brand advocacy
- More legal departments are innovating internally, than are seeing innovation from their external providers, what are they doing?
- Partner training is essential to be effective with this topic of innovation and thinking differently about working with clients
- The types of innovation observed are segmented into a scale, from incremental to breakthrough to transformational
- Current take-up of different legal technologies, which ones and why?
4. Developing high performing client teams
This research reveals the most important qualities that clients identify in their stand-out or exceptional lawyers.
- Research identified three different types of stand-out lawyer, each drawing uniquely on the core qualities, many of which are non legal
- Organizational pillars to measure these
- How to engage stand out talent and reduce flight risk
5. The evolution of the GC role
Over the last decade, the GC role has evolved in response to globalization, market trends and related increased demands placed on the legal function.
- More global – advice is required across more countries every year
- A need to provide more commercial advice often in a quicker timeframe
- There is a need to drive more value from legal spend
- More risk awareness is required and put in place more proactive, preventative steps
- Acritas has developed a PEER model, a framework for the industry to support this
6. Building a high performing legal function
Acritas has captured from lawyers in private practice an assessment of how clients manage their external lawyers and how improvements can be made.
- There are a number of areas where legal teams need to improve if they want to manage their law firms better
- Best practice defined – creating high performing law firm panels
- Collaboration is key to developing high performing relationships.
Our data can be delivered globally or drilled down to a region/country/industry and comparisons made to other markets where of interest. We will be happy to scope your needs and provide a quote for your upcoming retreat.
Contact Jo Summers on +44(0) 808 178 3020 or email firstname.lastname@example.org for more information.