It is interesting o note, that the recession in the US is good news for the $200-250 million legal process outsourcing (LPO) industry in India, as new forms of business come through from a number of international corporates. Estimates peg that the yearly demand for lawyers is expected to peak to 66,000 by 2015. According to ValueNotes, the entire legal outsourcing industry reported revenues of $225 million in 2007, and is expected to generate revenues of around $640 million by the end of 2010. Of the $6 billion worth of work that the US legal industry is expected to outsource, legal work worth $2billion can come to India. Majority of the work that has come in is related to risk management and corporate compliance. India is also set to emerge as a major player in the patent services off shoring space, with revenues from this segment expected to grow at 35 per cent annually, to reach $206 million by end 2012 from $46 in 2008, according to a report.
As stated earlier, the LPO sector stands out in the current scenario of the financial turmoil witnessing an extensive growth. Job cuts are most verticals that have provided the LPO industry an opportunity to hire from a large talent pool of potential employees.
The LPO sector provides employment opportunities to people with diverse educational backgrounds and skills. It would be incorrect to say that only attorneys are seen as potential employees. Depending on the mix of business of the concerned legal outsourcing firm, there are different skill sets that the company looks for. The sector also offers job opportunities to graduates (including those from a non-legal background).
While the LPO industry is performing well in such tough times, one cannot ignore the fact that the slowdown is here to stay for some more time. Thus, the industry is resorting to cost management. In other words, it means optimum utilization of all recourse.
(1) Widen your horizon and explore new career opportunities in varied fields. Do not restrict yourself to the traditional career paths. This will only come with an increased level of awareness. (2) There is a need to realize that an LPO is a combination of two fields, namely, consulting and outsourcing. Similar to what a law firm does, an LPO provides consulting services to its clients. The scope of exposure of an employee is not restricted to a particular vertical wherein an employee experiences exposure across the breadth of different verticals. Therefore, an LPO utilizes the skills of an individual that he/she has acquired by way of education.
Talking about legal process we are giving here about conducting one self in the office by being politically correct.
If you were to speak your mind in office, you wouldn’t be able to keep your job for very long. Sometimes, you need to know how to sugarcoat your words so that they don’t sound offensive, even when you don’t mean to be polite. Here are some phrases that can come in handy:
When you want to say: No way, I am not doing that
Say: I don’t think that this is feasible.
When you want to say: Are you mad to even say that?
Say: May be you should sleep over this
When you want to say: Shut up
Say: We could discuss this later
When you want to say: How dense can you get?
Say: I’m afraid you haven’t understood what I’m saying
When you want to say: I don’t give a damn
Say: Sorry, I can’t help it
When you want to say: Get someone else to do the dirty job
Say: I don’t think I can do justice to this job
When you want to say: Go figure it out
Say: Think again.