Will COVID-19 be the catalyst that brings law firms into the 21 century? Will the agile working practices we’ve all become used to replace the old-fashioned view that lawyers have to work regular hours in expensive offices?
A poll of more than 100 law firms found that 59% will look again at how they use technology and review their specialisms and 81% expect staff to work part of the week from home in future.
There is certainly a need to re-visit business plans: fee income is dropping, the furlough scheme will soon start to cost more and banks are not keen to lend. Changes need to be made to ensure long term financial stability.
Here at Carbon Law Partners we are able to advise you on all the issues facing law firms at the moment: from redundancies to home working, partnership issues to insolvencies. We can also share our experiences on a practical level. The majority of lawyers at Carbon Law Partners work remotely. To us, the pandemic has been business as usual.
The coronavirus pandemic will push firms to overhaul their business plan, a survey has found, with more than half of respondents already planning a major change in strategy.