ACC today released findings from the ACC In-house Trends Report, which includes over 1,800 respondents from 53 countries.
WASHINGTON (June 13, 2017) — In-house lawyers in heavily regulated industries, such as finance, insurance, and healthcare, plan to direct most of their resources to manage regulatory issues, two-thirds of respondents are engaged in cross-border work, and nearly half of survey participants are open to relocating to a new country, according to the Association of Corporate Counsel (ACC) In-house Trends Report, released today.
Encompassing data and insights from more than 1,800 in-house lawyers in 53 countries, the survey highlights the most influential legal and business issues facing companies, professional status of corporate lawyers across the globe, relationship dynamic between in-house and outside counsel, and career mobility and compensation. The report updates data from past ACC research, such as the ACC Global Census Report (2015) and ACC Global Work-Life Balance Report (2014), in order to provide a current benchmark on notable issues impacting the in-house community.
"Corporate lawyers are increasingly viewed as essential business partners, fully integrated into their company's strategic and operational teams," said Veta T. Richardson, president and CEO of ACC. "It's no surprise that regulatory change continues to impact companies' business decisions. Jurisdictional differences are further affecting the day-to-day operations of the business, and thus, in-house lawyers are uniquely positioned to work with the C-suite to find solutions to business problems, manage growth, and develop strategies."
In light of increased attention on cybersecurity prevention and response, one in three respondents noted their law department will direct resources to mandatory employee training, and one-quarter will focus resources on data security audits. Sixteen percent of survey respondents will assign a law department member to the data crisis response team.
Other notable findings in the ACC In-house Trends Report include:
- One-third of in-house lawyers in Europe said the EU-US Privacy Shield will have a big effect on business relations with the United States.
- Thirty-six percent of respondents in the United States stated their companies have changed how they do business as a result of recent regulatory action.
- The perception of in-house counsel has steadily risen over the past several decades. Fifty-eight percent of respondents agree that they now enjoy the same status as outside counsel.
For more information on the ACC In-house Trends Report, visit www.acc.com/trends.
About ACC: The Association of Corporate Counsel (ACC) is a global legal association that promotes the common professional and business interests of in-house counsel who work for corporations, associations and other organizations through information, education, networking, and advocacy. With more than 42,000 members employed by over 10,000 organizations in 85 countries, ACC connects its members to the people and resources necessary for both personal and professional growth. By in-house counsel, for in-house counsel.® For more information, visit www.acc.com and follow ACC on Twitter: @ACCinhouse.
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