Stat Of The Week: GCs Getting Respect
How the pandemic changed the perception of law departments.
Sometimes derided as the “Department of No” in the corporate world, in-house legal teams are becoming increasingly valued in the pandemic era, according to a new survey.
A report commissioned by the U.K.-based spend management company Apperio found that legal departments in financial services are getting better recognition from lawyers and non-lawyer executives alike.
In the Legal Spend Management for 2022 report, over 70% of respondents said the pandemic has made the legal department “more valued” or “much more valued.”
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And executives were more effusive than lawyers: 40% of finance executives like CFOs said the department was “much more valued,” while 29% of respondents with lawyer titles said the same.
The report draws on responses from 300 legal and finance professionals in late 2021, and touches on workload, data management, technology investment, and other topics.
The Legal Spend Landscape for 2022 [Apperio]
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Jeremy Barker is the director of content marketing for Breaking Media. Feel free to email him with questions or comments and to connect on LinkedIn.
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