According to the latest Law Firm Trends and Outlook Report 2018 APAC released today by Colliers International (NASDAQ: CIGI; TSX: CIGI), a global leader in real estate services, a number of key trends are reshaping the law offices of tomorrow as firms incorporate strategies to attract and retain the best legal talent in Asia Pacific. Partnering this year with executive search firm Michael Page, the report offers a unique vantage point from a talent perspective as it relates to how law firms are redefining their office models.

Mergers & Consolidation
David Wood, Head of Law Firm Practice Group APAC at Colliers International, commented: “Globally, law firm mergers continue to reshape the legal landscape as firms seek to expand their reach and ability to service clients internationally. The ability to create and foster a firm’s culture through space and brand identity enables a unique opportunity to adopt innovative technologies and future-proof the business.”

Need for Innovation
Increased competition and cost pressures continue to drive workplace innovation and the need for change in the sector. Firms are increasingly looking to achieve greater efficiencies through improving their office model and adopting flexible workspace configurations - a trend we expect to continue. 

Technology & AI
Advances in technology and the adoption of Artificial Intelligence are two trends expected to drive innovation over the coming years, which will have an indirect impact on space requirements due to greater automation of various functions within law firms.

China’s Economic Rise
The legal sector is evolving at an unprecedented pace. China’s rise and the need to bolster presence in China have led firms to reimagine their approach to structuring their legal teams through the adoption of innovative office models that optimise space efficiencies and work-life balance. 
Mr. Wood added: “Law firms are likely to take up more office space in key Chinese cities as they build up their China teams in response to growing demand for services on the Mainland. This could contribute to upward pressure in key office markets like Shanghai, which according to Colliers’ research has seen a 35% uptick in the number of positions over the past year. Further, robust hiring is also evident everywhere from Sydney to Singapore – a trend, along with the evolving requirements and demands of law firms, landlords will want to keep firmly in mind.”

Cool factors draw talent
Ng Lay Hoon, Associate Director of Michael Page Singapore, commented: “One of my clients did a survey on what law firms can do to improve and the pantry came up as an important factor. So they remodelled their pantry. Sometimes we forget that different generations have different thought processes and snazzy offices is one thing we hear demanded a lot from legal professionals. That’s why technology companies are increasingly getting more attention. Particularly for law firms, which are known to be a little stiff, even if they just do a little bit of that, it will make a huge difference in terms of visibility and employer branding.” 

• More senior lawyers are seen to be moving from Global firms to Chinese law firms, which are flush with cash and able to offer more attractive remuneration packages
• Adoption of flexible workplace arrangements 
• Repurpose talent and offer opportunity to transition into practice areas of need such as real estate and infrastructure 
• Premium office design and amenities bolster the culture of a firm and convey a sense of well-being

“Sometimes legal firms think they’re the ones having their pick of legal candidates. Increasingly though, it’s also the candidates choosing the firm. If these candidates are experts in a highly demanded specialisation, they do have options. To attract talent, today’s law firms must not only consider their overall proposition to prospective candidates, they also need to think about investing in their talent. Legal professionals want their potential employers to have a view on career progression, global mobility and flexibility,” Ms. Ng explained.

Click here to download the Colliers International Law firm trends and outlook report APAC 2018

For more information about the office market in China or the above report email Hebe Li from Colliers International Beijing via the contact details below.

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