How Lawyers Can Reduce Stress by Using Contract Review Software
How Lawyers Can Reduce Stress by Using Contract Review Software
You probably know that 90% of U.S. legal pros are registered on LinkedIn. If you take a quick tour around their accounts, you’ll see many of them sharing how hard it is to allow themselves to take a break, even when they feel unwell. The following message usually prevails: “It was so hard for me to take a sick leave and let myself have a rest”. Hundreds of I-feel-super-stressed-out-too comments under posts like this prove that work-related stress is a serious industry-wide issue. But what makes lawyers’ jobs so stressful? And, even more importantly, how can one fix this while bringing even more value to clients? The answer to the first question is simple — it’s deadlines and overwork. The answer to the second question is simple, too. You can try out contract review software to automate routine tasks. This way, you’ll get more control over deadlines and ultimately boost your value in the clients' eyes.Tight deadlines and overwork are the main causes of stress Unfortunately, many lawyers fall into the overwork trap. According to the ABA Legal Technology Survey Report of 2019, 17% of law practitioners disagree with the statement: “My job allows me to spend adequate time with my family.” Meanwhile, 25% of respondents say they are not taking adequate breaks during the workday. The pessimistic number of 16% of respondents confess to not devoting time for themselves at all. There are several reasons for the overwork culture thriving. Lawyers are pressured to meet clients’ expectations and outrun the competition. That’s why they tend to sacrifice their spare time and personal needs to work as much as possible. What’s more, overwork is something lawyers get financial rewards for. According to Bloomberg’s recent piece, law practitioners can receive as much as $164,000 if they keep working 100 hours per week. Constant work and the need to come up with effective contract solutions under a tight deadline keep lawyers’ stress levels very high. The conveyor of contracts to draft and review never stops. Meanwhile, the average number of contracts a lawyer needs to process each day is five or more. That’s some 25 contracts per week and a hundred contracts per month.
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About Oleksii Orovetskiy
Oleksii Orovetskiy is the Head of Product at Loio, an AI-powered Microsoft Word add-in for faster contract review and editing. A seasoned IT veteran with over 15 years of experience in developing B2C and B2B SaaS products globally, Oleksii is leading the creation of the legal tech product that can potentially influence the lives of over one million legal professionals in the U.S. and beyond. Oleksii is also a contributor for Attorney at Law Magazine.