Leverage ALSPs and Legaltech to Improve Work Culture, Client Service, and Your Bottom Line
Does anyone else see it coming? It's so clear to me…
We've just gone through an extended period of lockdown and reflection. We don't want to go back to the way things used to be, but we also want to break out of the erratic slog of how we're working now. People are burning out.
We are living in the EXPERIENCE AGE.
We want to enjoy more meaningful experiences and to be burdened by less stuff.
We don't want to work so hard on stuff that doesn't intrigue us.
We want to have skills that are relevant for the times.
We want to enjoy our lives and work.
We want to self-actualize.
Clients want more value from legal counsel but to spend less time and money on it.
Shareholders want to improve their profits.
AS AN EMPLOYER:
How will you attract, motivate, and retain top talent in the Experience Age?
How will you address the more-for-less challenge for your clients?
How will you give your shareholders the $ they crave?
The goal of rightsizing is to determine the appropriate level (more/less/different) and source of talent and technology for tasks and processes.
When work is rightsized:
- experts work in their areas of expertise and reduce time they must expend on work that does not interest them,
- technology and human capital are leveraged in a way that optimizes profitability for the shareholders of the law firm and provides value for clients, and
- service delivery is streamlined and turnaround time and the client experience are improved.
YES, we are going to see greater leverage of these resources within law firms and the industry at large.
In fact, talent within the industry is going to be attracted to non-traditional employers and career paths which include employment at ALSPs and legaltech companies. If your law firm knows how to work with these resources, your firm has a better chance of attracting and working with talent that have the skills required for your firm to remain competitive with the times.
By some estimates, Millennials will comprise 70% of the U.S. workforce and the majority of the workforce in many other countries by 2025. What do Millennial and Gen Z employees want? Employees care about more than just money, and they seek other benefits from their jobs. To the employers out there: it is important for you to understand this and to get your organization's culture right if you hope to attract, motivate, and retain the right talent.
Rightsizing can hit a lot of the right buttons to create an organization that satisfies all of your stakeholders (your stakeholders include your shareholders, clients, and employees). But first, we need to stop worrying that technology and ALSPs will take our jobs away. They will replace some portion of the work we do -- yes -- but they will free up some of our time and energy so we can improve our individual value propositions and perform at a higher level on the work that interests us most.
The answers are pretty clear. When we stop perceiving legaltech and ALSPs as threats, we can begin creating better work environments and results for everyone.