The document summarizes key findings from Clio's 2022 Legal Trends Report. It provides statistics on law firm metrics like utilization rate, billable hours, and collection rate. It also discusses trends like an increase in lawyers leaving jobs or planning to leave, preference for flexible work schedules and working remotely. The report finds that law firms taking a "cloud-first" approach that supports remote work will be better able to attract and retain legal talent and clients in the new era of work.

1. Key insights from the
2022 Legal Trends Report
Data-driven insights from the
2022 Legal Trends Report

2. Colin Bohanna
General Manager, Clio
Colin.Bohanna@clio.com
Joshua Lenon
Lawyer in Residence, Clio
Joshua.Lenon@clio.com

3. Agenda
• Introduction to the Legal Trends Report
• 2022ʼs Key Metrics from the Legal Trends Report
• Whoʼs Winning the New Work Era?
• Takeaways
• Questions

4. Housekeeping
• Session length: 30 minutes
• Recorded and available on-demand
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select “everyone” in the dropdown.
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5. Introduction to the
2022 Legal Trends Report

6. Our seventh annual edition

8. Download the 2022
Legal Trends Report
clio.com/LTR

9. Data Sources
Clio App Data
Aggregated and anonymized data from
tens of thousands of legal professionals
in the United States.
Legal Professional and
Consumer Surveys
We surveyed 1,134 legal professionals and
1,168 consumers in April and May 2022.
458 service professionals in accounting,
consulting, and investment and financial
services were surveyed for comparison data.
Location Data
This yearʼs report utilizes aggregated and
anonymized IP address data to analyze where
lawyers are working from and how this has
changed over time.

10. 2022 Key Metrics

11. 45
%
36%
35%
20%

13. Utilisation
rate
Number of billable
hours worked
Number of
hours in a day
33%
Realisation
rate
Number of billable
hours invoiced
84%
Number of billable
hours worked
Collection
rate
Number of hours
collected upon
89%
Number of billable
hours invoiced
÷ =
÷ =
÷ =
Law firm key performance indicators (KPIs)

14. Insight from the 2021
Legal Trends Report

16. Who’s Winning the
New Work Era?

17. of lawyers left a job
in the past 12 months.
19% 9%
of lawyers plan to leave
a job in the next 6 months.

19. of lawyers say they work
over 40 hours per week.
59%

23. of lawyers want to
choose which hours
of the day they work.
76%

24. of lawyers prefer
working from home.
49%

26. Only-Office Mostly-Office
Mostly-Digital
Hybrid

27. Early Market Mainstream Market
Innovators
2.5%
Early
Adopters
13.5%
Early Majority
34%
Late Majority
34%
Laggards
16%
Tech
Enthusiasts
Visionaries
Pragmatists Conservatives
Skeptics
The Chasm
Source: Crossing the Chasm
How technology spreads through markets

28. Innovators
2.5%
Early Adopters
13.5%
Early Majority
34%
Late Majority
34%
Laggards
16%
0
25
50
75
100
Market
share
%
Early Adopters Control The Market

29. of consumers said
working remotely with
a lawyer is a key factor
in hiring a firm.
79%
Insight from the 2021
Legal Trends Report

31. of lawyers prefer meeting
their colleagues virtually
39% 45%
of lawyers prefer meeting
clients virtually

34. Takeaways

35. Lawyers can handle
increased demand

36. Work-life balance is the goal;
work-life blend is the method

37. Law firms are not a location
but a state of mind

38. Law firms that are cloud-first
will attract & retain talent

39. Cloud-first legal services
are winning