InhouseBlog encourages you to join the GC Metrics, LLC Benchmark Survey. Simply click on the survey link below and take a few minutes to enter your company’s 2011 staff numbers as well as your internal and external legal spend. https://novisurvey.net/n/benchmarkmetrics2012.aspx
The first 105 participants in this year’s General Counsel Metrics industry benchmark survey let GC Metrics start to gauge the eventual group. For one, the pace projects to more than 300 law departments in the first release, which will go out in early June.
Two-thirds of the initial group are U.S. law departments, slightly ahead of the 61% figure at the end of last year’s 829 participating companies. So far, three other countries each have 4 participants (Belgium, Canada, and the UK).
Regarding industries, Manufacturing and Technology have the most participants, with 17 and 11, respectively. Food & Beverage, Financial Services, Telecomm, and Retail each have 7-9 participants.
The law departments to date employ 4,469 lawyers, so the median of 8 lawyers is the same as last year’s for the final report. The median revenue so far lags last year’s by about $300 million, at $1 billion.
Interestingly, of the participants at this early point, 42 of them took part in neither the 2010 survey nor the 2011 survey. The significant influx of new participants and new data will alter industry benchmarks and will strengthen the releases as they come out.
Head over to the survey today to get your stats in: https://novisurvey.net/n/benchmarkmetrics2012.aspx.