In the late 2010s, economic trends strongly favored corporate development. Since the 2008 recession, which altered headcounts and operations in many legal departments, the U.S. economy had grown substantially.
Law department operations rode this wave and continued to grow their functions. For example, 10 percent of the respondents to the 2019 Law Department Operations Survey added their first dedicated LDO professional that year, while 10 percent added their first in 2018.
The strong economy helped the law department operations function to not only grow, but to become more established. When asked to rank the maturity level of their law department operations in general on a scale of 1 to 5, with 5 representing most mature, nearly half of respondents, 47 percent, rated their teams as a 4 or 5.
The big question, however, is whether these trends can hold through the downturn.
They should, as the law department operations function is a known cost saver and the activities it sponsors are often a good antidote for shrinking profits.
Many companies, however, are facing hiring freezes, and legal ops can be considered to be a cost center, so it is questionable whether growth can continue. And budget cuts and distractions within the function — such as building work from home and return to work plans — may be impeding the maturity curve.
Are legal ops functions continuing to grow through rough economic waters? This question and many more will be answered in the 13th Annual Law Department Operations Survey. If you’re an in-house legal ops professional, all you have to do is take the survey, and we will deliver the answers, along with 300+ additional data points, back to you at no charge.