Law firms that focus on improving productivity and justifying rate increases by bringing greater value to clients will reap the benefits of those strategic shifts long after labor challenges subside. … READ MORE >
Business and professional services
Business and professional services industry outlook: Spring 2022
Technology is beckoning business and professional services firms that are feeling squeezed by ongoing labor challenges. Whether higher salaries are cutting into profitability or job vacancies are outnumbering qualified applicants, digital solutions—specifically those that automate nonbillable or tedious tasks—can help increase productivity and boost the bottom line. … READ MORE >
Workforce solutions firms see growth opportunities following banner 2021
Private equity firms clearly see the value of workforce solutions firms, evidenced by the significant capital raised and number of deals closed in the space in 2021. … READ MORE >
Staffing firms thrive amid wage inflation and labor shortages
Resilience in combatting the labor shortage is among five trends that came to light during third-quarter earnings calls hosted by executives of workforce solutions firms. … READ MORE >
Environmental services and the $1.2 trillion infrastructure package
Infrastructure law funding for environmental projects and programs should equate to numerous opportunities for environmental services firms. That increase in demand figures to result in growth for firms that are equipped to successfully carry out projects, whether they be environmental assessments, waste management, remediation or others. … READ MORE >
Law firms investing in technology aren’t just cutting costs. They’re building a multifaceted competitive advantage.
In a remarkable twist, law firms are using technology to combat the No. 1 self-perceived threat to profitability without really knowing it. … READ MORE >
Law firms are not guaranteed another profitable year despite strong demand and rate increases
Law firms aim to sustain profitability in 2021 by prioritizing existing clients and operations as opposed to investing in new business. … READ MORE >
Canadian law firms are losing talent to more lucrative U.S. jobs. How can they stop the exodus?
The red-hot labor market for lawyers in the United States is magnetizing Canadian lawyers eager to join their American counterparts on the quest for lucrative wage increases at U.S. firms. Canadian firms, meanwhile, have been slower to react with widespread wage adjustments, but we expect that to change in the coming months. … READ MORE >
5 trends from government services companies’ Q1 earnings calls
Through the start of 2021, the government services ecosystem buzzed with excitement around the Biden administration’s budget request and proposed infrastructure package. Contractors expect federal spending to flow toward initiatives such as IT modernization, supply chain risk management, cybersecurity and ESG. … READ MORE >
5 trends from defense technology companies’ Q1 earnings calls
Companies in the defense technologies ecosystem began 2021 by continuing to closely monitor operations and supply chains while positioning for short- and long-term federal government modernization efforts. … READ MORE >