LEGAL hIRING sTRONG

The UK legal industry is one of the largest across the globe. According to a report from Statista, the industry generated a whopping 32 billion British pounds in 2021, and this number will only grow over the next couple of years. The UK has the second largest legal headquarters right after the United States of America and the country continually works with legal exports every year. Currently, the legal exports are even higher rising seven times more than the 2020 imports. UK law firms are also moving to technological legal solutions like compliance, document, and knowledge management tools to cater to the changing requirements of clients.

Having said that, where is the UK legal industry headed in the coming years? How will UK legal hiring be in 2023? What is going to dominate the legal trends in the UK in 2023? Also, what are the high-growth sectors in the UK legal market? We will find all that and more in the following few sections.

What are the top legal trends in the UK in 2023?

Following Brexit and the pandemic, the majority of research conducted by Thomson Reuters has proven that the primary legal trends in the coming years will be entirely focused on the customer. Most clients now are looking for exceptional legal expertise and they want their law firms to be tech-savvy. We looked up several research firms and based on the findings, we think the following trends will dominate the UK legal market in 2023.

Legal Spending

Even after the Covid scare and Brexit, UK legal firms are witnessing a five-year high when it comes to spending optimism. Legal buying is going to skyrocket, and the UK has already witnessed high legal spending over the last year. We can witness some of the biggest spendings in the regulatory domain. However, most law firms need to be on their toes to specifically look out for services where clients require consistent assistance. The trends are changing and if legal firms don’t keep up, they are at risk of losing valuable clients.

Skills

There’s no replacement for efficiency and law firms need to focus on the strategic elements of the business because that is what is going to drive legal initiatives in 2023. Most law firms will now leverage high-end digitalized solutions and technological products for enhanced efficiency within and outside the legal firms. Most firms will also end up being a tad more proactive and collaborative to improve client relationships and reinstate the client-first policy.

Business understanding

Another factor that will dominate 2023 is legal firms that genuinely understand the kind of business clients offer. Unlike a couple of decades back, commerciality is no longer the rage. People are now looking to rely on firms that understand the business requirements of clients. The majority of the clients expect similar traits from the new generation of legal professionals including external legal counsel as well as law firms. While this may not seem much, it is a significant move from the clients’ attitude during the pandemic phase when they only relied on legal help they have been using for years. Things are no longer the same, so clients are now looking to work with external counsel as long as they meet their requirements. Today’s clients require a holistic range of services and that is exactly what legal counsel offers.

New legal sectors

Another significant trend that will dominate the UK markets in 2023 is the UK law sector of alternative legal service providers. This sector is handled by a team of Alternative Legal Service Providers, commonly known as the ALSPs. These professionals and firms have dominated the UK markets over the last couple of years and this will continue to be the trend. Consulting firms across the UK are also hiring ALSPs and this will continue to be a trend in the coming months and years.

Legal service needs

During the pre-pandemic era, the legal services in the UK were extremely complex, so much so, that it was difficult to navigate. Therein entered external legal counsel that left clients with efficient, quick, and seamless solutions. Most clients are now seeking external legal counsel for greater satisfaction and higher efficiency. These firms are also highly consistent and unique thus allowing the clients or client brands to stand ahead in the growing competition.

According to the research from the State of the UK Legal market, the coming years in the legal domain will be more technology-driven because clients seek quick and thorough solutions. The strategy will be prioritized, and clients will seek services that prioritize their needs above everything else. Having said that, it is also important to note which legal domains will take the forefront in the coming years. In the following section, we will discuss that and more.

What would be the most used legal solutions in 2023?

E-signatures, digital billing, compliance, and knowledge management took the forefront in 2022. In 2023, the UK will witness a similar shift to technology-driven solutions.

E-Signatures and digital billing

Almost 82% of businesses in the UK use E-signature, so Regulatory and compliance-backed legal solutions with the right technical expertise will take the forefront. The same applies to digital billing. Owing to environmental concerns, many organizations are completely doing away with regular physical receipts and using digital billing instead. So, if you have a legal firm you might want to invest in these technologies to keep your clients in your books. With the right technical expertise, you will not just satisfy your clients but also provide services that you wouldn’t have provided a couple of years back. So, even before choosing your domain, you need to be tech-savvy with the right legal tools to meet the changing requirements of your clients.

Legal research

Around 71% of legal firms depend on legal research for their daily operations. So, this is yet another segment that will take the forefront in 2023. Legal research is a vast domain and requires, skills, expertise, along with the right resources. UK legal firms will need to invest more in technical solutions that enable legal research, and they will be left with a long fleet of clients who are looking to avail their services. Legal research will continue to thrive and with the right legal tools, the research will e more comprehensive and yet easier.

Compliance tools

More than 44% of UK businesses rely on compliance tools and given the high dependence on the hybrid and work-from-home models, this is only going to thrive. UK legal firms will need to invest in the right compliance tools so that clients get the services they are looking for and the legal documents of all client businesses adhere to the compliance laws of the UK and other parts of the world. Compliance tools simplify archiving documents, and they also ensure that businesses get legal help when they need it the most.

Document and Knowledge Management

Gone are the days when businesses used to keep paper trails for legal and non-legal procedures. Now everything happens in Cloud, thanks to high-end documents and knowledge management tools. If you are a legal firm, you might also want to hire document and knowledge management personnel for quick, consistent, and comprehensive services. Either way, the regulatory sector in the UK legal market is going to thrive and 2023 will be no exception. So, if you are seeking legal recruitment, you might want to check out these booming sectors.

Bottom Line

As a concluding remark, we would like to reinstate the changing relationships between UK clients and law firms. Instead of relying on conventional lawyers or single-person lawyers, the majority of clients moved away to law firms that exhibit quality, expertise, and a wide suite of abilities that are not just confined to the law firm. It goes without mentioning that the right legal attributes will enable law firms to not just address the transactional requirements of the clients but also the legal ones.

UK law firms are and should continue to focus their clients’ requirements on a highly strategic level. They should be mindful of the transforming legal sector and rely more on technical solutions for advanced efficiency. Most law firms are also equipped to meet the high service needs of their clients which transcends the realms of conventional work and transnationality.

As you already know at this point, the world has witnessed an interesting amount of legal spending over the last couple of years and the UK is no exception. That means if UK law firms provide quality services, clients will go above and beyond to connect with them. UK law firms, therefore, need the right expertise along with the right team that will meet all legal requirements and goes beyond that if needed. Because we also discussed the top legal domains for the UK in 2023, we are certain that you will have an easier time choosing a domain in case you are willing to pursue the profession. Alternatively, if you are a legal firm that is looking to stay on top of the trends, use this article as a guideline for your 2023 initiatives.

The UK legal industry is booming and over the next couple of decades, it will be at its ultimate peak, thanks to excellent legal firms and top legal industry leaders who are continuing to keep the legal industry as solid as ever.