There's Value In Listening To Your Clients

The economy has unquestionably put a hit on the legal profession. That being said, there is an ever-widening disconnect between large law firms and their clients. Case in point:

  • Roughly 75% of corporate general counsel say that their law departments are facing budget cuts next year, with an average cut of 11.5%, according to a survey by legal industry consultant Altman Weil.
  • However, while most corporate in-house counsel are struggling to cut their legal costs, the online ABA Journal Weekly reports that more than 70% of large law firms are increasing their billing rates again this year (by an average of 4.3%).

Certainly these are some of the reasons that 65% of corporate counsel say that they plan to bring more legal work in-house in 2009. Now more than ever before, if you’re not discovering ways to save your clients money, there’s been a serious breakdown in communication.