Legal Team
The role of General Counsel is undergoing a fundamental transformation, moving beyond traditional legal advisory to strategic business partnership. Axiom's UK GC Budgeting Survey reveals this shift through changing budgeting strategies, with leading GCs embracing agile models to tackle regulatory compliance, operational evolution, and the need for greater responsiveness. The impact is measurable - early adopters saw 53% budget increases in 2024, demonstrating that combining legal expertise with business acumen and technological literacy is now essential for modern legal leadership.
Source: Axiom, Pinsent Masons
The role of General Counsel is undergoing a fundamental transformation, moving beyond traditional legal advisory to strategic business partnership. Axiom's UK GC Budgeting Survey reveals this shift through changing budgeting strategies, with leading GCs embracing agile models to tackle regulatory compliance, operational evolution, and the need for greater responsiveness. The impact is measurable - early adopters saw 53% budget increases in 2024, demonstrating that combining legal expertise with business acumen and technological literacy is now essential for modern legal leadership.
Driving Forces of Change
Three key factors are reshaping how legal departments approach operations: Focus on agility and responsiveness (39%) Regulatory and compliance requirements (38%) Evolution of legal operations (33%) The shift isn't merely theoretical - GCs who adopted rolling/continuous budgeting models saw 53% budget increases in 2024, compared to 36% using traditional models.
From Cost Center to Strategic Partner
"GCs deserve a lot of credit for knowing what they don't know and bringing in experts that do," notes Bruce MacEwen, founder of Adam Smith Esq. This insight reflects a broader transformation: legal departments are evolving from cost centers into strategic business enablers.
George Beaton, founder of Beaton Global, draws a compelling parallel to automotive industry innovators, emphasizing the need for operational excellence. This is particularly relevant given Acritas's SharpLegal study finding that 60% of organizations still allocate legal spend inefficiently.
The Future of Legal Leadership
Michele DeStefano, founder of LawWithoutWalls, predicts GCs will become "much more rounded individuals," combining legal expertise with business acumen and technological literacy. This evolution is essential as legal departments face increasing pressure to demonstrate value while managing complex regulatory landscapes.
As Alastair Morrison, Head of Client Strategy at Pinsent Masons, notes, "A GC with a broad skill-set and deep understanding of business operations is perfectly placed to deliver that next wave of evolution." Modern GCs aren't just adapting their budgeting approaches - they're fundamentally reimagining their role. Those embracing this transformation are positioning themselves as strategic leaders in an increasingly complex business environment.
Source: Axiom, Pinsent Masons