Orellium Leadership Publication 3rd Edition: Dealing with Change

The legal sector is challenged by stagnating demand, relentless technological advances, particularly in Generative AI, and the entry of non-traditional competitors. In this edition we examine the cognitive dissonance within traditional law firms, which, while acknowledging the need for adaptation, remain entrenched in practices and business models centuries old. The persistence of the billable hour, despite client demands for efficiency and value, exemplifies the sector's resistance to change. This dissonance is further highlighted by law firms' expansion of office spaces and the continual chase for short-term revenue through rate increases, lateral hires, and a focus on profit per partner metrics, often at the expense of long-term sustainability and alignment with client needs.