Thomson Reuters: law firm financial index report reveals challenges ahead for firms to meet 2021 successes

Continued growth in demand and rates were no match for surging expenses in the first quarter of 2022. The growing competition for talent and a rebound in overhead expenses after last year’s steep cuts took a toll on law firm profitability, according to the Thomson Reuters Law Firm Financial Index (LFFI) powered by Peer Monitor/Financial Insights.

Top-performing law firms investing in their people and firm culture amidst ongoing talent war, says Thomson Reuters report

Top-performing law firms tend to pair aggressive investment in talent with a strong firm culture to help achieve stronger, sustainable growth, says the 2022 Dynamic Law Firms Report from Thomson Reuters.

Thomson Reuters: FindLaw debuts do-it-yourself Estate Planning

Thomson Reuters is introducing FindLaw Legal Forms & Services, a do-it-yourself offering for legal consumers. The first practice area is Estate Planning, integrating Contract Express software with FindLaw content and resources to provide consumers with access to easy-to-use legal forms and services.

“Incredibly Strong Demand” closes out 2021, but “Year of Talent” challenges loom: Thomson Reuters Peer Monitor Index

After surging back to pre-pandemic levels and beyond, demand for law firm services took yet another jump upwards in the fourth quarter of 2021, according to the Thomson Reuters Peer Monitor Economic Index (PMI).

Baker McKenzie, DLA Piper, and Clifford Chance top the 2022 Thomson Reuters Global Elite Law Firm Brand Index

Thomson Reuters announced the 2022 Global Elite Law Firm Brand Index today with Baker McKenzie retaining the top spot for the 12th consecutive year.

Thomson Reuters: Law firms can’t just keep throwing money at growing talent war: 2022 Report on the State of the Legal Market

Having regained their footing after navigating the depths of the pandemic, law firms are facing a growing talent war that threatens to upend the legal industry’s newfound momentum.

Thomson Reuters: Ransomware – What law firms need to know

Ransomware has evolved into its own industry and it has been successfully targeting law firms of all sizes. According to the ABA, 42% of firms with up to 100 employees experienced a data breach.

Significant number of top lawyers want fewer hours and less non-billable responsibilities, says Thomson Reuters report

After enduring more than a year of remote working and uncertainty about the direction of the legal market, nearly one in three stand-out lawyers would prefer to work fewer hours.

Thomson Reuters: Talent wars posing biggest threat to law firm profitability

Law firm business leaders are optimistic about their outlook but increasingly concerned about rising competition and cost for talent.

Thomson Reuters: Strong recovery continues in law firm market, but talent wars are taking a toll

Growth in demand, rates and productivity continue to fuel the recovery in the large law firm market, but the intensifying war for talent is becoming a growing drag on law firm performance, according to the Thomson Reuters Peer Monitor Economic Index (PMI)[1] for the third quarter of 2021.