Business transformation is the talk of the town at the moment within the legal profession, and law firms are well aware of the need to embrace change in order to stay relevant and satisfy customer needs in an increasingly competitive marketplace.
The legal profession has changed dramatically over the years, resulting in a new set of challenges that yesterday’s firm leaders have never had to confront. There’s an oversupply of lawyers, more demanding and less loyal clients and partners as well as overwhelming advances in technology. To add to that, we are seeing regulatory change, skyrocketing operating costs, M&A activity and a rise in competition. All these trends have created huge pressure for law firm leaders – who must change the way they operate in order to remain at the top.
I keep saying “Shaping the Future of Law Firms”, whether that be new office design, workforce mobility, agile/virtual working, regionalisation of office location are all aspects that must be considered when planning your transformation programmes. Firms must also underpin the change with the right technology. On top of all this, it is essential that firms support people within the organisation and provide them with the right tools to adopt those changes and provide training where necessary – behavioural change is fundamental when adopting a new way of working!!!
In today’s most successful law firms, the role of managing partner has evolved significantly, from that of a “caretaker” trying not to rock the boat to that of a dynamic consensus builder and change agent. Today, the managing partner is the CEO of a multimillion-dollar entity in a rapidly changing industry and needs to exercise critical leadership skills to set the example of the firm and be open to adopting change with open arms.
Legal Week, in partnership with Microsoft, recently conducted a survey of legal professionals to establish where the market stands on the curve of transformation. This panel discussion looks where law firms can develop, boost quality and efficiency, and stay relevant to clients.
Here at DVF we partner with clients to help them define, shape, deliver and embed successful change by providing them with the very best business & IT change talent.