This past week there was an interesting article in the ABA Journal – originally appearing in the Legal Intelligencer.
The article notes a trend of lawyers migrating from megafirms to mid-size firms that have more competitive fee structures and lower firm overhead.
According to the article, a departing lawyer was quoted saying, “My experience was it was difficult to engage local businesses with a higher rate structure. There were people down the street that could do the same thing I could at a cheaper rate.”
“Somebody from Lansdale didn’t necessarily care that I had an office in Kuwait.”
Law firms need to better understand what is valuable to their clients – I misalignment of the firm and clients need is disservice to partners in their firm. The debate goes beyond whether firms should have offices in geographically disparate locations around the world.
The primary consideration being, that law firms need to ensure that they maintain low cost structures as to be competitive when working with clients. Otherwise, talent my jump ship… hopefully not the Kuwait.