2024年卓越业绩报告：律师事务所免费下载

Mastering the art and science of Executive summary The legal industry is undergoing a transformative period driven by artificial intelligence(AI) and other advanced technological innovations, generational shifts, and evolving clientexpectations, especially around communication. Therefore, law firms must proactively adapt The insights provided by the Thomson ReutersInstitute, based on the perspectives of Stand-out lawyers — those attorneys who provideoutstanding service and expert experience inthe eyes of their corporate in-house clients —underscore the urgency of these adaptations Insights from the Thomson ReutersInstitute’s research, involving2,635 stand-out lawyers led to Law firms with a structuredand well-defined frameworkfor building client relationshipswill be better equipped tonavigate and enhance theirsuccess through a systematic Indeed, a systematic methodology formanaging client interactions, such as KAMs,are proven to spur organic growth and client •assigning dedicated cross-practice teamsto maintain strong client relationships and •designing regular, structuredcommunication channels to stay aligned •creating clear incentives and performance metrics that focus on client satisfaction As law firms continue to navigate these changes, their ability to remain agile and forward-thinking will not only define their current success with existing clients but also shape their The three forces/shifts at play Embracing change, strengthening bonds & securing In an era in which virtual collaboration, strategic talent development, and cutting-edge AIconverge are greatly impacting the legal industry, law firms must seize the opportunity to Embracing the virtual communication revolution— The strength of client bonds is the bedrockof a successful law firm. As virtual meetings become the norm, lawyers who exclusively meetwith clients in-person risk alienating them and jeopardizing revenue streams by refusing to Revitalizing succession planning— The impending retirement of Baby Boomer partnersrepresents a tectonic shift within many law firms, as a wealth of experience and personalclient relationships begin to head for the exits. Productive succession transitions demandearly planning, active involvement of younger partners, and transparent communication with Unleashing the power of GenAI— To deliver unparalleled client outcomes, law firms mustproactively harness the transformative potential of GenAI for enhanced efficiency and cost-effectiveness. With clients’ expectations varying, open communication about GenAI’s impacton service delivery and clear expectations about its capabilities are paramount. By keeping Clients expect modern Clients are shifting towards the use of modern communication channels, marking a significantdisruption in the legal industry. Once dominant face-to-face interactions are now giving way tovirtual, tech-led communication and collaboration. This change also is driven by the increasing FIGURE 2: Changes in client communication preferences compared to pre-pandemic, according to stand-out lawyers Stand-out lawyers tell us that that clients now prefer a more flexible approach in how theycommunicate with outside counsel, and stand-out lawyers already are adapting to thischange. 6-in-10 stand-out lawyers surveyedsaid they embrace afuture-forwardapproach tocommunication. While these lawyers still valueface-to-face communication when appropriate,they now focus more on adapting to theirclients’ preferences, especially around using6-in-10 stand-out lawyerssurveyed said they embracea future-forward approach On the other hand,traditionalistlawyers advocate for a return to in-person communication.However, this stance seems to overlook that clients, including the younger generation, prefer Despite concerns that technology might dilute client relationships, half of the stand-outlawyers report improved client relationships in recent years, with those who are morefuture-forwardbeing more likely than thetraditionalistto see improved relationships. This indicatesthat declining client relationships are not inevitable with reduced in-person meetings; instead, FIGURE 3: Change in average strength of relationships between client and firm teams since pre-pandemic Overall strength of relationships The fact that so many stand-out lawyers report improved relationships shows the marketwhat’s possible — to be sure, these lawyers are in an elite class and are particularly adeptat relationship building. However, the shift in communications preferences clearly does not Transforming insights into actionable steps: To adapt to new communication preferences among clients, law firms should apply or updatecertain KAM principles to their formal, cross-practice client engagement programs, including: Engage in structured feedback— Implement systematic client evaluation programs toperiodically assess clients’ preferences for communication channels and styles. Explorenuances, such as circumstances in wh