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been a great deal of speculation around how the legal landscape will change over the next few years and whether law firms are making the necessary changes to survive in the long-term. Many predict that because of a lack of succession planning and
competition from the biggest and niche practices, mid-size law firms will face the greatest threat.
It seems though that those who have already survived the storm are confident about their future. LexisNexis report, Mind the gap, found that decision makers expect to grow over the next five years, thanks to a resurgence of demand in key sectors
like property and family. 84% of decision-makers believe that the firm has a clear strategy for the future direction of the business and 83% say they actively embrace change.
But it appears that the lawyers in these firms do not agree.
In fact, the report shows a significant disconnect between lawyers and decision-makers on what their firm’s top priorities are and what still needs to be done.
Most decision-makers feel they have already done much of the groundwork to address changing market needs and growth – having already invested in staffing, web development, processes and training.
But twice as many decision-makers to lawyers see investment in process and training as &ldq
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