Good News! The legal industry is rapidly changing and shifting in several directions at once which is creating some organized chaos and new roles and career opportunities are fast developing to address these challenges. So wherever you are right now in your career progression, chances are you will be in a very different place within the next 36 months if you invest in your career development now.
The top 7 drivers of change impacting legal and eDiscovery careers in 2015 are:
1- The convergence of Privacy-Security-Governance and eDiscovery.
2- The rise of managed eDiscovery services (40% of AmLaw Firms are outsourcing their litigation support)
3- Corporate control of data and workflow
4- The evolution of big data to smart data and the advancement of predictive analytics and business intelligence
5- The consolidation of vendors
6- The rapidly increasing volume variety and velocity of data
7- The availability and cost of talent (internal and external)
These above drivers of change are dramatically impacting the careers of everyone in our industry. Legalists, technologists, consultants, analysts, and entrepreneurs alike and I expect 10 – 15 new roles to evolve and take hold over the next 24 – 36 months.
Although most of these new roles have yet to be fully defined, here’s whats clear and certain.
Many of the new tasks and responsibilities are being performed by current talent ie. you. Thereby stretching and expanding your current responsibilities.
These new tasks and responsibilities tend to yield new areas of power, influence and impact. Which leads to you gaining new authority and resources and eventually a title and compensation upgrade. Cha Ching and the phone begins to ring ring.
“This is the beginning of the beginning” of new role creation and a new leadership structure in our space which is almost identical to the creation of new roles and career advancement that we saw between 2004 and 2008 with the explosion of eDiscovery careers and leadership. And I fully expect a corresponding compensation explosion as demand for talent with privacy, security and governance skills and experience exceeded supply .
This will rapidly become clear in the coming months as our 9th annual salary survey report predicts a 50% spike in eDiscovery jobs with 31% of the Fortune 500 adding staff, and 165 new roles are established in 2015 (a conservative estimate from our recent salary survey and corporate investment trend survey).
As well, Legal Technology News recently reported on 2015 eDiscovery career landscape and opportunities in “E-Discovery Jobs Spike but Salaries Stagnate.”
So, how do you prepare? What can you do now to be prepared and advance your career? Start 2015 off right with a Career Checkup, Gap Analysis and Essential Reading List which we will be addressing in our next blog.
For more tips – check out our future blogs on career advice, personal gap analysis and career advancement.
You must be an active participant in your own career advancement.