After the demands of 2020, the 2021 year brings significant challenges to law firms as they decide how to move forward on the tail end of the pandemic. From the remaining impacts of COVID-19 to the shift to virtual service and increased demand for the service of a legal recruiter, many firms have had to adjust their business models to address these changes. These are the challenges that law firms face as they move through 2021.
COVID and the challenges it brought to law firms are not yet over. As many as 81 percent of the top firms still report that they feel COVID-19 will prevent them from reaching their financial goals. Things are looking better with the vaccine on the horizon, but the crisis is far from over.
One of the best ways to overcome this 2021 challenge is with technology. Virtual interviews with a legal recruiter can help with the hiring process, and virtual meetings with clients can reduce the risk of virus transmission. Remote work may be the norm for legal work as 2021 progresses.
Legal consumers have changed over 2020, and those changes will follow them into 2021. One of the biggest changes is the demand for cyber services. Since consumers can now do everything from buying groceries to checking their bank accounts online, many are starting to expect legal services in a virtual format as well.
To address this challenge, firms can consider adding app-based services, virtual client meetings, and other technology-based approaches, where appropriate to meet the changing expectations of their clients.
As a firm adapts to the changes brought on by 2020, many find that they need to add additional talent. Yet few networking events will take place as the pandemic continues, leaving firms struggling to connect with potential new hires. A legal recruiter is often a great way to add talent and find people who may feel interested in a firm, without undue stress on the existing partners.
There’s no denying that 2021 is going to bring challenges to today’s law firms, but 2020 taught the tenacity needed to push through. As the pandemic becomes more manageable, smart firms will rise to the challenge and continue to grow through the coming year.
The American Lawyer reports on law firm financial performance for the first nine months of the year, concluding that for the fi...
The American Lawyer just released the results of the most recent Am Law 100, their annual financial report of the top 100 U.S. ...
Law360 released results from its fifth annual Diversity Snapshot, which surveyed 300 law firms on their minority representation...