2023: APAC General Counsel Survey Report
There’s no question that being an APAC-based GC is hard. The results of Axiom’s first annual survey of 300 Hong Kong (HK) and Singapore-based GCs across a wide range of industries reveal that the job is only getting harder. The work is relentless and often described as ‘unmanageable’. The work-life balance is unideal. In addition, while the volume and complexity of legal matters grow, APAC-based GCs are seeing their budgets shrink.
Not only must APAC-based GCs address more matters for which they have a dearth of in-house expertise but they must also identify the right resources to engage in order to increase support while controlling costs. Hiring to gain additional support has always been difficult but it’s now nearly impossible due to headcount reductions. Belt-tightening is not only impacting the ability to hire, these spending cuts are also upending the use of law firms given their historically large 2023 rate increases.