For a long time, your procurement group may have wanted to better understand whether your company's legal department spends like other well-run legal departments. General Counsel Metrics, LLC, invites you to find out. You can take part in an innovative global benchmarking effort. In less than three months, more than 470 legal departments or financial and procurement professionals have responded to the online survey. The report will let you see that total legal spending as a percentage of revenue declines with the size of the company, that spending varies significantly by industry (on the order of a 3:1 range), that the cost of per-hour of inside counsel is about 50% less than that of outside counsel, and that the norm for all legal departments is about one lawyer for every non-lawyer in a department.
The online survey takes on average less than nine minutes to complete and asks for only six pieces of data. Your procurement staff (and your law department) will benefit from the report and be part of a transformational benchmarking project.
Gather this data (or your best estimate) before you click through:
- The number of your company's lawyers, paralegals, and other staff
- Your company's internal legal spend (compensation, overhead, etc.) and external counsel spend last year
- Your company's revenue last year
You will receive your report in May, which will compare your law department's ratios to industry benchmarks as well as to benchmarks for departments based in your country, of your number of lawyers, and of your company's revenue. The report has 24 charts and four tables, all with metrics that are normalized and aggregated. You will receive your report at no cost.
Please click here to submit your data. Or, copy and paste the following URL into a browser: http://tinyurl.com/LDBnchMark. You can request anonymity if you would like.
If you have questions, click here for the ten most common inquiries and their answers. If you have any other questions, write the President of General Counsel Metrics, Rees Morrison, at rees (at) reesmorrison (dot) com.