“All on fire” or how the legal market has survived 2020. Episode 1. Ader Haber.
This has been a most eventful and challenging year for every earthling – it can confidently be called historic. Together with the captains of the top ships of the legal ocean, the APU tracked the height of the quarantine storm, recorded the events in its space, and broadcast them to you. We predicted then – now it’s time to take stock and shape the general state of legal market events at the end of 2020.
We are launching a special New Year’s Eve rubric – a survey All on fire – every day we will broadcast key findings and forecasts for the next year from the leaders of leading law firms. At the end, we will form an overall picture of how the legal profession is feeling and the vector for its future movement. Captain-respondent first – Yuriy Petrenko, founder and managing partner of ADER HABER Law Firm.
Customer Service: What’s New?
The situation was equally challenging and unique for both clients and lawyers. Everyone from the beginning of the pandemic and quarantine events was in the same environment and with the same inputs. The question was how quick you were to react, how much you had the resources to make effective decisions.
In most cases, we set up remote communication with clients, which was quite developed before (for example, foreign clients, regular clients and ongoing projects that do not require personal contact on a regular basis). During this time we became emotionally and professionally closer to our clients, and we lived through difficult times together! Now business has become bolder, certain rules of the game and algorithms are already clear.
New Year’s pandemic results
The first thing we did at the beginning of the quarantine was to take care of our staff’s safety. We worked out a clear algorithm of actions, appointed responsible persons, thought through possible scenarios, and formed a reserve fund. Fortunately, the percentage of employees who contracted the disease is quite low, and our company takes the situation with the virus very seriously, but adequate security measures. The only pity that we had to cancel our traditional annual winter corporate party in Bukovel, although everything was already booked. But the safety of our staff is in the first place. So, our next summer and winter corporate parties will be even more fun and interesting.
The situation around the pandemic prompted additional thoughts:
– People don’t know how to distinguish between credibility and its belonging to the real objective world;
– people have become addicted to negative information because it allows them to absolve themselves of all responsibility and make others guilty;
– through such negative information, which sounds almost from here, and constant stress, people have lost a certain psychological balance;
– we have been taught to be the first to look at the number of sick people in the country when we wake up!
But for every “anti-trend” there is a trend! People try to cope on their own and find decent solutions in difficult situations. So, we learn how to respond properly to such a transient world.
About 5 main trends of Legal Market 2020
The first trend. Lack of motivation among young lawyers to enter the profession. Many students view jurisprudence as a temporary phenomenon in their lives.
The second trend. Small law firms are closing or on the verge of bankruptcy.
The third trend. Intellectual property has become even smarter.
The fourth trend. Inhauses start and win.
5th trend… The issue of distribution of profits and financing of expenses among partners is again relevant.
2021: what should lawyers prepare for?
It’s definitely not going to be easy, but you have to go faster! Competition will intensify, systems and ways of selling legal services will change. Legal services will be followed by legal solutions.
Results in one sentence
Well, you hold on there! See you on the bends!