By: Rob Roe, JLL Managing Director
The 2008 recession resulted in significant changes to the legal business. According to our 2016 U.S. Law Firm Perspective, law firms have faced numerous challenges, such as economic uncertainty and volatile legal employment rates, as demand has stagnated.
Despite these challenges, the 2016 Altman Weil Report revealed that nearly 74% of firms with 250 lawyers or fewer have experienced revenue and profit growth since 2008. There has been a slow upward trend in revenue, however, firms must reevaluate their growth strategies to remain profitable.
So, how are they overcoming these challenges?
Industry leaders are starting to regain their footing by adopting new strategies to trim overhead costs, spark growth and maintain high levels of profitability.… Read More