I’ve been compiling a list of firms awarding ‘Covid bonuses’ to their lawyers while forgetting their ‘non-lawyers’
Moray McLaren and Stephen Revell reflect on innovation, disruption and business development ahead of Tuesday’s Law Firm Marketing Summit
Moray McLaren is co-chair of next Tuesday's Law Firm Marketing Summit and Stephen Revell is chairing a panel. Click here to read the programme and here to book a ticket for this virtual event featuring senior executives from an array of top law firms.
How would you describe the law firm of 2030?
Stephen Revell, consultant, Making Change Happen
I’m of the view that the leading law firms of 2030 will not be radically different from the leading law firms of 2021. Clients will still demand access to the best lawyers and law firms for large commercial transactions and significant dispute resolution
What differentiates a successful law firm?
Moray McLaren, co-founder, Lexington Consultants
My biggest pre-Covid concern was the pressure on fees and standardisation of services, over recent weeks we have seen that people are the number one concern. Our own research shows that increasing numbers of young lawyers are either 'up for hire' or ready to walk away from the profession. The clear message is that neither good work nor more money is enough, firms are having to dig much deeper to find a feeling of 'shared purpose'.
Has disruption gone too far?
With the notable exception of the UK, I am tempted to say that disruption hasn’t started yet.
What is the best legal innovation you have seen?
The best legal innovation that I have seen revolves around the idea of platforms that better enable clients and law firms to interact.
How important are the marketing and business development functions of a law firm?
Covid has served as a catalyst for business professionals, and not always in a positive way. I have been compiling a list of those firms awarding a Covid-bonus to their lawyers while forgetting their ‘non-lawyers’. Over the last few weeks, we have seen some very senior departures.
What could Marketing and BD do better?
Marketing and BD professionals need to rethink the way they support lawyers as well as helping busy lawyers actually do some business development rather than being swamped by it.
Should clients behave differently?
No, no, no. Lawyers are in the service industry and they need to ensure they provide the services that clients want in the way that clients want or else clients should go to different law firms.
Stephen Revell is the contributing editor of Business Development: A Practical Handbook for Lawyers