Latest news Women rise through ranks Toptier firms positive Time to deliver on brand promises

Women on the rise in in-house teams

There are promising signs for women lawyers in the in-house legal world. The In-house Report: Benchmarks and Leading Practices report for 2015, produced by the Australian Corporate Lawyers Association and the Corporate Lawyers Association of New Zealand, reveals that 42 per cent of the 351 companies surveyed had a woman holding the very top position in the in-house legal team, up from 38 per cent in 2012. The number of women in top in-house legal jobs is highest in public unlisted companies, at 51 per cent.
In other findings that will come as no surprise to most law firm leaders, the report indicates that in-house counsel have cut spending on external legal service providers and want a better deal from firms. The median external spend of in-house legal teams has fallen 25 per cent since 2012, with organisations reducing their reliance on external firms through strengthening of their internal legal teams and switching to alternatives such as legal process outsourcers.

Optimism grows among top-tier firms
A new report conducted by Beaton Research and Consulting shows that top-tier firms expect to see an upturn in the market within the next six months, even though the legal industry is generally pessimistic about short-term growth. The CommBank Legal Market Pulse survey sought the views of 32 law firms across Australia, Asia and Europe. The findings suggest confidence is returning within large firms that can capitalise on the growth in global transactions. Mid-tier firms are not as optimistic, with most expecting little improvement before 2017. Government work looks set to take a hit, but the respondents indicated that employment, insurance and property law were the most likely sources of revenue. Firms are facing pressure from clients to outsource some legal support services.

Top firms live up to brand promises
The power of law firm brands has been highlighted in a new North American survey. Legal market research company Acritas conducted the research, which found that corporate counsel are more likely to give high-value work to law firms that align their services with their brand promise. About 250 Canada-based senior corporate counsel in US$50 million-plus organisations participated in the survey, which indicated that the two top-ranking firms for brand experience in Canada are Norton Rose Fulbright and Blake, Cassels & Graydon. The firms have been credited with providing a very clear brand proposition and being able to live up to their promises. Acritas reported that clients are more likely to build strong and longstanding relationships with law firms that meet their individual demands, behaviours and needs. Clear and consistent communication is essential, from website marketing pitches through to the way individual lawyers speak to clients.