As the effects of troubling regional conflicts and political turmoil reverberate through the world's economies, In-House Counsel Worldwide & Mondaq's 2024 Global In-House Counsel Report seeks to reveal the challenges, issues and priorities facing global in-house legal teams worldwide.
We are delighted to launch the inaugural 2024 Global In-House Counsel Survey Report. With almost 400 global in-house counsel respondents from over 60 countries, the report provides unique insight into the current state of global legal departments and their direction of travel for the coming year – as well as insights into the global in-house profession today.
Some key finding from the 2024 report:
- Demand for in-house services looks set to rise significantly, with 72% of global in-house departments expecting an increase in Risk & Compliance demand, 62% in Data Privacy; 57% in Contract Management and 41% in Business Strategy & Advice.
- There is a strong emphasis on supporting business growth, with risk management and compliance responsibilities also prominent; In-house counsel are carrying a significant breadth of accountabilities beyond their legal remit. These include compliance (74% of in-house counsel also accountable), ethics (41%) and company secretarial (38%) and investigations (33%)
- The increasing levels of demand for in-house service and accountabilities raise the prospect of a potential employee wellbeing and mental health crisis looming, with over 54% seeing an increase in work-related stress and anxiety and just 11% a decrease, coupled with limited evidence of companies recognizing the emerging need to prioritize employee support and wellbeing within legal departments
- Hybrid working models now seem well-established with over 70% of counsel able to access a mix of office and home or remote working arrangements. However, there are stark differences regionally, with 81% of counsel in Europe and 74% in North America offered hybrid, compared to just 32% in the Middle East & Africa
- Companies also expect to increase their spending on outside counsel - from the buy-side there is almost universal consensus that practical advice, legal expertise and understanding of the buyer's business are the most important factors – far more so than the existence of senior-level relationships
Please follow the below links to view or download the report:
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ABOUT THE ICW
In-House Counsel Worldwide (ICW) is a global network of member-associations that represent the legal professionals who work as corporate counsel and/or in-house lawyers within companies or organisations.
The primary mandate of the ICW is to unite this community globally to share best practices, standardize competencies, promote standards and ethics, and collaborate to advance this sector of the legal profession for both the lawyers and their organisations.
ABOUT MONDAQ
Mondaq is a leading global provider of AI-enabled content marketing, data and analytics solutions for professional services firms. Mondaq powers firms' marketing & business development success through client, prospect and market insights based on a global audience of senior-level decision makers.
Mondaq delivers answers to legal, tax and compliance questions to an audience of over 20 million readers worldwide.
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