Every year brings more to learn in the legal industry. For job seekers, staying on top of trends is essential in order to keep your skills sharp and demonstrate your ability to add value to a law firm or legal department team.
Here are five trends on the horizon for the legal industry in 2019:
Pricing Models Will Continue to Change
In recent years, more law firms and legal departments have begun to experiment with pricing models that depart from the traditional billable hour model. As the pressure from clients continues to build, more departments will move toward value-based pricing in the coming year.
The trend toward value-based pricing, in turn, places pressure on law firms to focus on value in hiring – creating opportunities for job seekers to stand out by underscoring the value they add to the team.
Demands for Transparency Will Increase
Both individual clients and legal departments are demanding increased transparency from law firms, making 2019 the year to expect major changes in this area. New technologies make it easier for companies to be more transparent about their work and to collaborate more effectively.
Platforms Will Run Legal Firms
Many other industries have already embraced software platforms and their corresponding apps, and in 2019, the legal field will continue to make this transition as well. Legal support professionals who can demonstrate adaptability when it comes to learning new software will be well-positioned to show they can maximize software’s ability to help provide better value for clients in a more efficient manner.
Privacy Rules are Shifting
Confidentiality has long been second nature to legal professionals, but with new demands for privacy and data security worldwide, lawyers will need to pay renewed attention to confidentiality demands, particularly as they relate to digital information. A keen interest or background in this area can help job seekers stand out.
Competition Will Come From Sources Outside the Legal Field as Well as Within It
Accounting firms, financial planners and similar professionals have long done work that overlaps with that of law firms and legal departments. In 2019, these companies are poised to continue placing pressure on the legal industry as they develop their own new value-based models of serving clients. Law firms and legal departments will need to develop new ways to work with these competitors, or risk being made obsolete.
Find Your Perfect Fit Now!
At Kent Legal, our recruiters help job seekers stay on top of legal industry trends, so they’re prepared to find the job and employer they want in the greater Toronto area. Contact us today to learn more.