Across the legal market, law firms are trending down in the amount of square footage of office locations. This trend included firms that signed new leases or renewals in 2019 decreasing their occupied square footage by an average of 10.6%, according to commercial real estate firm Cushman & Wakefield’s report, https://www.cushmanwakefield.com/en/united-states/insights/2020-bright-insight
The trend of cutting real estate expenses has been a central topic during the COVID-19 pandemic as many firms faced difficult decisions regarding expenses, payroll, and staffing during the economic downturn.
The maintanence of the traditional law firm office will remain an icon of the industry for it's development of culture, client and co-worker interactions, and mentorship programming. However, many firms are utlitizing this opportunity to reinvent their workforce through flex schedules, hybrid work, and fully remote attorney positions. The shift to a new legal laborforce emphasizes the importance of maintaining a work life balance and embracing current cultural movements, such as mental health awareness and legal "burn out".
Our goal is to help you navigate through these uncertain times, Fazzio Law is in your corner!
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