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Accounting and Financial Planning for Law FirmsFeaturesLaw Firm Management

Five Trends that Promise to Impact the Legal Workplace In 2024

By Marcie Borgal Shunk
February 01, 2024

Talent is the single most valued asset within a law firm. And, the role and influence of talent in law firms is on the rise. From the talent wars of 2021, to the persistence of the hybrid work model, to layoffs in 2023 and ever-climbing salary burdens, talent is at the forefront of discussion in legal circles (and beyond). How law firms engage with, respond to and anticipate changing talent needs has the power to transform the legal landscape and dictate which firms come out ahead.

Combining insights from macro-trends in organizations worldwide with critical shifts within the legal industry, five prevailing trends promise to impact the legal workplace in 2024.

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1. New Partners, Senior Associates and Middle Management Bear the Burden of Engagement

While engagement overall in the workforce is slowly improving, one notable group continues to report lower engagement and higher stress according to Gallup. It just so happens this group is also the one most often responsible for the engagement of others. A pivotal finding from Gallup reveals managers — those responsible for other people within the organization — account for 70% of the variance in employee engagement. In other words, effective managers are more likely to have more highly engaged team members.

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