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<\/figure>\n\n\n\nEfficiency of operations<\/h2>\n\n\n\n
Half (50%) of our law department respondents were clear that efficiency is their number one priority. This means managing the growing pressure from the business to handle or reduce costs without compromising the department\u2019s ability to deliver quality legal service even in the face of an increasing workload. For many, the pressure to do more with less has pushed them more quickly toward technology solutions and digitalizing operations while others focus on driving more efficient operations and processes.<\/p>\n\n\n\n
One respondent cited the challenge of catching up with the digital era and modernizing how the department does its work. \u201cI mean getting on board with e-billing, internal matter management systems \u2014 we really need to evolve to become more modern,\u201d they said. \u201cWhich often means just using the technology that\u2019s there that, but we aren\u2019t using.\u201d<\/p>\n\n\n\n
Safeguarding the business from risk<\/h2>\n\n\n\n
Almost half (46%) of respondents said they are focused on protecting the organization from risk \u2014 much of which comes in the form of an almost constantly shifting regulatory and compliance landscape.<\/p>\n\n\n\n
For a global corporation operating across many jurisdictions, the first question often is how to keep up with changing regulations across multiple geographies? And second, how to communicate the implications of those changes to the wider business?<\/p>\n\n\n\n
Besides complex and changing regulations, many corporations are still dealing with the impact of the COVID-19 pandemic on their business, while others are trying to avoid the risk of litigation by anticipating and mitigating such risks preemptively. And of course, cybersecurity and data security are also high on the list of concerns for many law departments.<\/p>\n\n\n\n
Safeguarding the business as a category of concern has increased the most since 2019, with the pandemic introducing risks that were not present two years ago.<\/p>\n\n\n\n
\u201cThe challenge nowadays is, for lack of a better word, the regional regulatory madness,\u201d said one survey respondent who works in the law department at a retail company in Spain. \u201cEvery day there are new regional regulations, and we are the ones responsible for keeping the entire organization updated with each regulation because it affects us.\u201d<\/p>\n\n\n\n
Effective delivery of legal work<\/h2>\n\n\n\n
The next most frequently mentioned area by more than one-third of respondents (39%) is how their law department can adapt to the new and dynamic set of external pressures to continue running the legal function as effectively as possible.<\/p>\n\n\n\n
Some businesses found new growth opportunities in the pandemic. The digitalization of services due to remote working and lockdowns meant growth for a lot of tech companies, for example, so the big challenge facing their law departments is rapidly scaling the activity of the department itself.<\/p>\n\n\n\n
Another area of focus is improving the level of integration between the law department and the rest of the business so that the department can become an enabler of the business\u2019s overall strategy.<\/p>\n\n\n\n
Interestingly, factors relating to the effectiveness of the law department have been mentioned less often in 2021, but it is still a concern for about two-in-every-five department leaders as they seek to meet their companies\u2019 strategic goals and facilitate business growth.<\/p>\n\n\n\n
\u201cBecause we just merged, [the challenge] is integration,\u201d said one department leader at a U.S.-based engineering company. \u201cThe current legal function in the two firms is critical, so supporting the day-to-day operation internally with basic needs of the organization, trying to understand what\u2019s needed, and then being responsive.\u201d<\/p>\n\n\n\n
Talent development<\/h2>\n\n\n\n
The fourth area, mentioned by a smaller group (14%) is all about developing and retaining talent. As we experience the Great Resignation spurred on by much reflection by individuals on their position in life, at work, and in their careers, employers have been forced to think hard and long about their talent strategy and how best to attract, retain, and develop the right people and skills in-house for the longer term.<\/p>\n\n\n\n
Talent is another issue that is occupying minds of general counsel more now than two years ago as the pandemic has transformed the way we work. Here, the priorities are to attract and retain high quality talent, to manage a transition to hybrid working as a more permanent feature of work life, and to ensure good collaboration across the team.<\/p>\n\n\n\n
\u201cComing out of the pandemic there are people who are stepping back, moving away, and moving on, so retention and recruitment are the other priorities,\u201d said one survey respondent. \u201cIt has been a tough year in that regard \u2014 you\u2019re trying to keep the hearts and minds of people globally when you can\u2019t see them. I meet with them regularly, but the opportunism from other companies is taking its toll.\u201d<\/p>\n\n\n\n