Ralph Baxter writes…
This is my sixth post about law firms in the Coronavirus Crisis.
As governments around the US and the world begin to ease restrictions on social interaction, law firms, like all other business entities, are planning for “re-entry.”
When law firms return from the compelled remote working experience, will they return to business as usual? Will the fundamental operating models be the same as before? Or will there be a “new normal”? These are very real, and very important questions all law firm leaders need to answer.
History suggests that law firms revert to past practice once a crisis passes. It is what they did after the financial crisis of 2008. It is in their nature, they are trained to rely on precedent, and the old ways of working produce reliable results.
I believe this time will be different for two fundamental reasons.
Two Reasons the New Normal Will be Different
The Market Was Demanding Change Before the Crisis
First, the market had expressed a genuine imperative for change before the crisis.
Clients were demanding that service be delivered better, faster, and less expensively. Process design and technology made these improvements possible. Nearly every firm recognized the need to innovate, spawning innovation officers and initiatives, but meaningful change was modest, at best.
Clients responded by “voting with their feet,” creating ever larger in-house law departments and relying more on alternative legal service providers. The total market share of the AmLaw 100 was declining, even as the law firms paid themselves record income.
This was a real issue pre-crisis.
Everyone Learned How Well New Models Work During the Crisis
Second, the suddenly altered model imposed by the crisis taught everyone that new models really can work. In many cases just as well as the old models, and in some cases better. Law firms and their people learned a lot from the crisis.
The lessons were enabled by remote working, but they extend well beyond WFH. We learned how well the technology works, how powerful our data is, how self reliant our people can be, and much more. Among the most common themes I hear from law firm leaders is the impact the crisis has had on people who previously were doubters, cynics, or downright opponents of technology solutions; Zoom and other tools persuaded them that, indeed, technology isn’t just for purchasing on Amazon or looking things up on Google, it can permit lawyers to do what they do in a superior way.
Importantly, the advantages of the remote model were not limited to outputs. It included the process and people’s personal experiences. Nearly everyone with whom I have spoken reports, for example, an improvement in collaboration and teamwork, and greater job satisfaction. While there were inconveniences, people liked the lack of commute and the flexibility that accompanied remote working.
Remote working made real and personal for everyone how modern tools can improve the way legal services are provided. As we move forward I believe the service provider side of the market will put these lessons to work to deliver the change the market is demanding.
Three Ways the New Normal Will Be Different……..
Read on at Lexblog. https://www.lexblog.com/2020/05/19/law-firms-must-look-ahead-to-a-very-different-new-normal/
