Law Firm Services Group Outlook Report 2015

Law Firm Services Group Outlook Report 2015

August 2016

The legal industry is undergoing significant cyclical and structural changes that are profoundly altering the way in which law firms think about and use commercial real estate. The recession and ensuing slow recovery have increased fee pressures, leading firms to focus on rightsizing their office footprints while still offering the features and amenities required to attract top talent. On the structural side, technological changes are enabling unprecedented mobility both within and outside of the workplace, which law firms are balancing with the industry’s unique privacy and confidentiality requirements. Firms also are embracing flexible layouts enabling them to adapt to future, rapidly advancing technological developments. Another impact of technology is the reduced need for physical storage, law libraries and support staff, resulting in the need for less office space. Finally, as in other industries, firms face the challenge of balancing the space and technological needs and preferences of two distinct groups: the aging baby boomers and emerging millennials.

Keywords: law, legal, market reports, workplace strategy

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