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Industry is the dominant basis for insights from staffing and spending benchmarks

General Counsel Metrics will offer Industry Analyses starting after the second release of its global benchmark survey in July. Each of the 25 Industry Analyses available offers deeper insights than the no-cost, 60-page Standard Report.

I strongly believe that general counsel should look only at benchmark metrics from companies in their own industry (See my post of March 28, 2011: an example of why industry benchmarks provide by far the most useful insights; Dec. 27, 2010: large benchmark surveys can present “sector” data; and Jan. 3, 2011: absolute numbers of staff, even by industry, afford little insight.).

Since my first metapost on industries in relation to benchmarks, I have added the three in the preceding paragraph plus 11 more (See my post of March 2, 2010: industry benchmarks with 8 references.). Some address an index I have created called “legal intensity” (See my post of Aug. 3, 2010: differences in legal intensity of industries do not cause assessments of primary firms to vary much; Dec. 1, 2010: 20 industries ranked by “legal efficiency”; Dec. 31, 2010: rankings of industries by benchmark metrics and participation rates in survey; April 12, 2011: legal intensity and the competitive level in an industry; and Oct. 31, 2011: industry intensity revisited one year later.).

Other posts here address attributes of industries (See my post of Aug. 16, 2010: if benchmarks reflect technological intensity and competitiveness, more ways to measure it for an industry; Nov. 28, 2010: when manufacturers earn so much from services, what industry are they in; Dec. 27, 2010: revenue per dollar of legal spend from technology companies; Feb. 15, 2011: comparison of 2010 benchmark survey respondents and US Fortune 200 industry distribution; Aug. 15, 2011: other attributes of companies than industry for purposes of benchmarking; and April 6, 2012: a way to quantify industry dynamism.).

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