The 2024 ACC Chief Legal Officers Survey provides insights on the evolving role of the chief legal officer (CLO) and how legal departments are positioning to help organizations most effectively adapt to the broader business environment. This year's report is based on responses from 669 CLOs from organizations spanning 20 industries and 31 countries.
The results show that CLOs and legal departments continue to face intense pressure to do more with less. Forty-two percent of departments received a mandate to cut legal costs and 58 percent experienced major rate hikes by their law firms. Moreover, 59 percent of CLOs say their workload increased over the last year. It is no wonder that CLOs rank operational efficiency as their top strategic initiative for the coming year, with 45 percent planning to invest in new technology to enhance their department's efficiency.
Learn more about the results by checking these 10 Key Findings from the 2024 CLO Survey.