At its annual Clio Cloud Conference today, the law practice management company Clio released the 2022 edition of its annual Legal Trends Report – its seventh year of the report.
It finds that law firms are seeing an average 10% increase in the growth of new business, but that their fees are 3% below where they should be given recent trends in inflation.
It also finds a profession grappling with work-life balance, as many lawyers are changing jobs in search of work-life balance and 49% say they would rather work from home.
“The past two years have fundamentally changed how lawyers define the role of work in their lives,” said Jack Newton, Clio’s founder and CEO. “The challenge for every law firm is to meet the expectations of clients and employees while balancing business objectives in a fluctuating economy.
“Technology is enabling much-needed flexibility for today’s lawyers, and this