"If law firms don’t, others will:" Prof David B Wilkins speaks on the need to innovate, future of Corporate Legal Services post-COVID and more

A talk delivered by Professor David B Wilkins, Harvard Law School on Friday saw pertinent observations being made on what the corporate legal services market will be like in the post-COVID-19 world. .Corporate law firms such as L&L Partners will be able to continue to differentiate themselves from larger and more global firms while maintaining the culture that made them successful, Prof Wilkins opined during the talk hosted by Rajiv K Luthra (Founder and Managing Partner, L&L Partners),.Prof. Wilkins emphasised on the need to operationalise innovation. He noted that clients are increasingly putting a premium on law firms that have a culture for innovation..He added that most managing partners do see the disruption in the legal markets but often resist change as they do not feel the same level of dissatisfaction or fear as other employees..Given that alternative Legal Service Providers are a $14 Billion market, he remarked that if law firms don’t provide their services, others will!.He noted that law departments and general counsel using alternate Legal Service Providers (ALSPs) are eight times more likely to want to increase their use extensively, given that ALSPs have better technology and project management..To tackle this challenge, Prof Wilkins opined that traditional law firms need to change their approach to professional development..“In 2020, the first GenZs graduated from college. On the one hand, they are born digital. At the same time, they are increasingly seeking meaning and purpose. The pandemic and the protests will only heighten these commitments", he pointed out..He drew a comparison to generations that lived through the Great Depression stating, “Everyone that has lived through this moment will forever be changed by it, and I believe that this generation will drive great change.”.In light of these new tides of change, the Professor noted that firms will require to pay even more attention to their teams. Clarifying this position, he described three essential dimensions of a well-functioning team, i.e.:1) Provision of excellent service to clients.2) Supporting every team member’s well-being and development.3) Create a learning environment that facilitates continuous improvement..He emphasised, that if the second and third aspects are ignored, the first will inevitably suffer and team members will leave..1. Managing the workflow.In this regard, he posed a question: How do we ensure the “rich don’t just get richer” and those with already great working relationships continue to get even more work, while those who don’t do not?He observed that the problem here was not just for the “poor” but the danger was also that the “rich” get burnt out while the “poor” get discouraged.2. Measuring Performance.How will we measure performance?, he asked.Further, he questioned if there is a need to rethink the ways in which performance is measured.3. Monitoring Developments.On this aspect, Prof Wilkins emphasised on the importance of monitoring new changes and developments if one wishes to prepare themselves for the future.4. Motivating Change.Never let a crisis go to waste, he said, adding that the best time to change is when the circumstances force it.5. Motivating and evolving culture.Professor Wilkins opined that this challenge would be the hardest to conquer, yet the most important. He observed that no change will take place unless people trust that those pushing for the change have their best interests at heart..To meet these challenges, Prof Wilkins recommended that every lawyer must be willing to listen and to change. He recognised that this will not be easy. Law is the only business in the world where you cannot say anything new unless you definitely prove that someone has said it before, he added..All the same, he ended on a hopeful note remarking that fortune favours those who boldly embrace change and then put in the hard work to take advantage of the opportunities change presents..Professor Wilkins is a Lester Kissel Professor of Law, Vice Dean for Global Initiatives on the Legal Profession, and Faculty Director of the Center on the Legal Profession and the Center for Lawyers and the Professional Services Industry at Harvard Law School. .He is also a Senior Research Fellow of the American Bar Foundation and a Fellow of the Harvard University Edmond J. Safra Foundation Center for Ethics.

"If law firms don’t, others will:" Prof David B Wilkins speaks on the need to innovate, future of Corporate Legal Services post-COVID and more

Shagun Suryam

Related Stories