SurePoint’s Leopard Solutions Debuts State of The Legal Industry Findings

2024 defined by leadership shifts, workforce evolution, and market disruption

Leopard Solutions, SurePoint Technologies’ premier provider of legal business intelligence and analytics, today published its annual State of the Industry whitepaper analyzing the 2024 legal industry. Leopard found that profound transformation was driven by leadership transitions, shifting workforce priorities, evolving career trajectories, and technological advancements. These changes present both challenges and opportunities, requiring firms to adapt strategically to remain competitive.

A notable generational shift occurred throughout 2024 that is reshaping firm leadership, with an increasing number of top executives at the nation’s highest-grossing law firms stepping down. The percentage of leaders aged 61 and older is declining, while those in the 51–60 age range are rising, reflecting a new era of law firm management. At the same time, firms are contending with the growing influence of Gen Z, a generation that values work-life balance, mentorship, and diversity, equity, and inclusion (DEI). More than half (52%) of Gen Z attorneys are willing to trade higher salaries for reduced workloads, signaling a shift in workforce expectations that firms must acknowledge to attract and retain top talent.

Market volatility and law firm mergers also shaped 2024, with record levels of cross-border tie-ups and regional expansions. However, post-merger retention remains a challenge, with firms struggling to maintain cohesion, as retention rates often hover around 50%. The Leopard Law Firm Index reflects a year of declining performance for most firms, with only 13% improving their scores.

Technology, particularly generative AI, is redefining legal workflows. Tools like GPT-4 are streamlining processes and enhancing efficiency, but they also introduce new risks that firms must navigate carefully. As AI adoption accelerates, firms must strike a balance between leveraging innovation and maintaining compliance and security. AI is also fueling the demand for alternative fee arrangements—such as flat fees and value-driven pricing—which are becoming more common as corporations prioritize cost predictability and efficiency over traditional law firm relationships.

“As the legal industry continues to evolve, firms that embrace these shifts—whether in leadership, talent strategy, market positioning, or technology adoption—will be best positioned for long-term success,” said Laura Leopard, Founder and General Manager of SurePoint’s Leopard Solutions. “Adapting to new workforce expectations, refining DEI strategies, leveraging data-driven decision-making, and integrating cutting-edge technology will be critical for firms seeking to thrive in an increasingly complex and competitive landscape.”

The white paper is a comprehensive annual report that provides legal professionals with valuable market intelligence, offering in-depth analytics to help understand the current trends in hiring, promotion, and the business landscape, in alignment with market trends.

Key findings from the 2024 State of the Industry whitepaper:

• Career paths in law are evolving, with 35% of attorneys considering in-house roles and 52% exploring non-traditional career options.
• Lateral hiring has surged by 9% compared to last year, driven primarily by the need for expertise in high-growth practice areas.
• Notably, partnership promotion timelines have increased by 146% since 2012, with lateral hires outpacing internal promotions.
• Corporate legal teams are also undergoing transformation, with 40% of companies now relying on in-house counsel for most legal work.

For a more detailed overview of Leopard Solutions' 2024 State of the Industry research, download the whitepaper or view a summary of the report’s key insights.

About SurePoint^® Technologies

SurePoint empowers law firms to thrive with a cohesive technology ecosystem that includes front-office, financial, business, and talent management. By combining advanced accounting solutions, real-time legal data, and web-based front-office tools, SurePoint redefines practice management by helping firms streamline workflows, tackle talent challenges, and maximize revenue. Don’t just manage your legal practice...Accelerate it. Learn more: www.surepoint.com.

About Leopard Solutions

Leopard Solutions, a SurePoint company, is a leading provider of legal market intelligence with over 20 years of experience. We offer real-time, curated insights to help legal professionals enhance their business and recruitment strategies. Serving a broad range of clients—including law firms, recruiters, law schools, and corporations—Leopard Solutions provides data solutions for job searches, recruitment, and competitive intelligence. Our technology is continuously updated to ensure relevance and accuracy, building a strong reputation for reliability.

Leopard Solutions was acquired by SurePoint Technologies, a leading provider of innovative legal software that improves workflow and financial performance for mid-sized law firms.

Learn more at www.leopardsolutions.com.

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