The coronavirus pandemic brought sudden changes and unusual challenges to many general counsel and other corporate law department leadership. However, the good news is that the experience of successfully navigating their way through the storm could give in-house counsel a boost to the next rung on the career ladder.
This year has delivered huge changes to the way our world lives and works. But, will American law firms be ready to recognize and use what is going on in our world as an opportunity to create real change? In her book “Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen,†business professor Rita McGrath defines an inflection point as a moment that ““upends the basic assumptions that a business model is built on.â€
Working from home is here to stay for a while in the legal field amid the COVID-19 pandemic. So when are lawyers and their staff expected to come back into the office? Not until 2021, according to several law firms.
The work created in the legal field when the COVID-19 pandemic first became a known threat in the United States—securing federal loans, as an example—may be silencing now. However, as the U.S. continues to cope with the consequences of the coronavirus, law firms are continuing to adapt their practice offerings.
As the new school year starts every law school professor looking for a position in the field has this question on their mind: Will law schools hire this year?
A lot of associates at top firms are ecstatic to see that they will receive thousands of dollars in the form of special fall bonuses. However, given the precariousness of the COVID-19 economy, and the damage it has caused, are there ways firms can show appreciation for their associates when they are unable to give out bonuses?
Some small law firms may have chosen a successor. Most have not. Nor have they written a succession plan. Partners spend the majority of their time growing their practice.
Even before the pandemic, Davis Wright Tremaine partners were considering long-term structural changes at the firm. But the fallout from COVID-19 accelerated that schedule, according to Pete Johnson, the partner-in-charge of the firm’s Seattle office.
The technology is not new, but the move to the virtual world is. Remote, virtual law offices have been around for some time, but during this COVID Crisis many lawyers have been working remotely and that trend may be the way forward for those who are looking for more flexibility for more work-life balance.