Managing risk, legal spend and the internal client: What are your priorities for 2012? Panel Discussion: WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community www.dlapiperwin.com
In-house counsel priorities for 2012 In January 2012 DLA Piper Australia undertook a survey of legal counsel across the private and government sectors to seek their views on the trends and challenges they expected to face in 2012. Here’s what they said...
Biggest challenges for 2012? 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% t www.dlapiperwin.com
What keeps legal counsel awake at night? Legal and risk issues Workload Budgets and team and issues profitability t www.dlapiperwin.com
What keeps legal counsel awake at night? Legal and risk issues Lack of document trail and correct documentation when Balancing competing legal documents are handled demands from the by business teams Managing risk across businesses the business Ineffective Delivering large change agenda arising regulation from Legal Blueprint without impacting business as usual delivery Keeping on top of Being seen by the business changes to the law Litigation as a hurdle or a blocker, as regarding my business opposed to a valuable contributor. t www.dlapiperwin.com
What keeps legal counsel awake at night? Workload and team Loss of knowledge of key events when individuals Volume of work In-house resources leave the business and difficulty in recruiting staff Getting all necessary Insufficient staff and work done to a high budget for external standard in the resources to meet available time company demand for legal support. Competitor Poaching Maintaining team Managing increasing moral under work volume of unreasonable pressures demands of the board t www.dlapiperwin.com
What keeps legal counsel awake at night? Budgets and profitability Budgets Factors required to drive growth Controlling legal spend Cost control Difficulty in persuading the business to spend money on external lawyers when I consider it necessary Profitability t www.dlapiperwin.com
And for the lucky few... Approximately 10% of respondents said that nothing keeps them t www.dlapiperwin.com awake at night.
Your opinion of the hourly rate t www.dlapiperwin.com
If I had more hours in the day, my top work related priority would be... 40% 35% 30% 25% 20% 15% 10% 5% 0% Increase Spend more Spend more Develop Increase legal Take more Spend more Spend more knowledge of time training time training better toolkits knowledge time on time building time the business the legal team the and internal current work relationships networking commercial materials with other in- with external teams house counsel counsel t www.dlapiperwin.com
Qualities you value most in your external advisors Technical excellence (60%) Depth of business & sector knowledge (63%) Cost effective services (66%) t www.dlapiperwin.com
What annoys you most when working with external counsel 35% 30% 25% 20% 15% 10% 5% 0% t www.dlapiperwin.com
Do you feel valued by the Board / Senior Management? t www.dlapiperwin.com
What would improve your standing with the Board / Senior Management t www.dlapiperwin.com
WIN: WHAT IN-HOUSE LAWYERS NEED What's next for WIN? WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community
What in-house lawyers want... 1. Chance to hear practical advice/experience under Chatham House rules 2. Training on legal topics 3. Availability of knowhow and value add materials 4. Opportunity to network with other in-house counsel t www.dlapiperwin.com
About WIN The three main pillars of WIN are to provide: Knowledge : deliver information that is targeted, relevant and covers key business issues as well as legal topics Support : listen to our clients to identify the key legal and commercial issues they face and tailor our services accordingly Networking: create an opportunity to share practical experience with other in-house lawyers
WIN: What In-House Lawyers Need Advisory Win Wise Group Interactive Networking Website events
WIN Website • Tailored information • Personal library • Best practice guides • Discussion forum • Events and training Register at www.dlapiperwin.com
What's next for WIN? Client Advisory Group Client advisory sessions and events where we listen to what you want from WIN WIN Wise Practical briefings on key topics effecting your role Events In-house Counsel Day Junior Counsel Events: “From Junior Counsel to General Counsel"
Thank you WIN: What in-house lawyers need Knowledge, support and networking for the in-house lawyer community
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