With another phenomenal financial year behind them, Big Law is cautiously optimistic about the rest of 2022. But there’s emphasis on the caution, as firm leaders have said they’re trying to avoid becoming victims of their own success.

That means recognizing the industry is still struggling in key areas such as retention of talent, diversity and mental health support. And law firms need to continue innovating, even if there’s not a “black swan” event forcing them to do so.