Corporate counsel dropped 2 major law firms—and 5 smaller players—from their rosters in 2013; leaving 47 law firms in place to handle their legal needs.
Corporate counsel have long struggled with finding the right firms and the right balance of work. After adding 8 law firms in 2012, this latest round of cuts to the law firm roster is just the newest dip in the roller coaster ride corporate counsel initiated in 2009.
At the heart of these ebbs and flows is an unlikely driver: client service.
Clients tend to add firms to their list of providers when satisfaction levels head south—and start slashing when they are receiving better service. This see-saw effect demonstrates clients’ willingness to switch providers if they believe better service and better value can be found elsewhere.
Client feedback (the only sure-fire way to know you are delivering what clients truly value) is the tool to navigate the ups and downs to ensure you have the best seat for each leg of the ride.
P.S. The data in today’s post comes straight from the pages of our upcoming report: BTI’s Benchmarking Corporate Counsel Management Strategies. Subscribe at the top right corner of this page to receive your complimentary copy of the report as soon as it’s released.