The last two years resulted in a paradigm shift—in technology, client expectations, and work styles. The legal industry was no exception to these changes. As 2021 draws to a close, it’s safe to deduce that these trends will continue to shape the legal landscape for the foreseeable future.
The success mantra for 2022: carry forward learnings from this year to be better prepared for what’s to come. We summarized the findings of our first-ever Industry Report to help you gain a competitive edge in the coming year.
(Between August-September 2021, we surveyed over 2,000 legal professionals who shared their experiences since the start of the pandemic. The survey respondents explained how their law firms were impacted, the steps they took to sustain and grow their practices during this time, and how those strategic decisions helped build the foundation for long-term sustainability. The results of this survey have been presented in the 2021 MyCase Industry Report).
The legal industry has historically been one that thrives on personal interactions. When the pandemic posed a threat to these exchanges, the leaders had to quickly find ways to stay connected in a virtual-first world. However, the change that was enforced to battle a crisis led to several surprising discoveries. With firms garnering higher levels of productivity in a remote-work setting, 70% say they’ll honor part-time remote work to strike the right balance between in-person communication and giving their employees the flexibility to work from home.
Accepting the ‘New’
Based on the findings of our report, for many law firm leaders, change management was a difficult territory to navigate. This fear has constantly discouraged them from implementing new technologies (which they’ve been tempted to adopt even in the past) to their firms. However, when COVID-19 left law firms with no choice, many realized that when adopting the right technology, the transition isn’t as hard as they’d imagined.
The Digital Connection
From providing flexible working opportunities to leveraging more collaboration tools, incorporating new software and increasing reliance on technology has simultaneously resulted in increased productivity, profitability, and convenience.
There’s no denying the combined effects of a global pandemic and a serious economic downturn made the past year an especially challenging one for the legal industry. However, notable is the fact that firms that were quick to adapt to these changes emerged to be hugely successful.
To learn more about how law firms stayed profitable during a time of crisis, download the 2021 MyCase Legal Industry Report now.