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Challenges facing the law industry in 2021

Companies / Sector Analysis Jun 10, 2021 - 11:02 AM GMT

By: Sumeet_Manhas

Companies

After a rather challenging 2020 for everybody, it’s important to take a look at the upcoming challenges that the law industry is facing this year, along with ways to overcome them.

Coronavirus restrictions

The coronavirus pandemic has affected all sectors and industries throughout the past year and a half, with unpredictable changes for many. With many staff furloughed and unable to leave their homes, it’s been tough on the law industry trying to keep ahead with claims and provide exceptional service whilst running with a smaller number of staff.




Face to face meetings have been prohibited where possible and team calls have mainly had to take place digitally, which relies on strong internet speeds and everyone being available at the same time.

Flexible working

Again, with staff working from home and some law firms offering flexible working there could be issues with arranging meetings, getting work done efficiently and on time, and staying connected to the internet.

Some staff might also feel uncomfortable with the idea of going back to the office as restrictions ease, making it more difficult to arrange larger meetings that are best done in person or take on new projects and business plans or experiments.

Employee wellbeing

After a rather stressful period, the wellbeing of those who work in the law industry (and all industries) has been affected and it’s feeling hard to truly get our opinions across. This state of mental distress was seen to be considerably worse in women and young adults, with 63% of legal professionals claiming that they have suffered with daily stress.



What can be done to improve this?

Law firms and related workspaces should offer their staff time to take to themselves to get their wellbeing back on track. There should also be programs, such as motivational video calls, yoga sessions to unwind, or even book clubs to encourage a sense of community for the those who are still working from home.

Having a good plan in place to prepare for any future pandemics or other factors that could affect the industry will also help to offset any struggles that these businesses might face. One useful example would be to have effective and efficient ways in which they can provide their legal services. For a law company, innovating their legal service delivery could be a huge help towards keeping ahead of other firms within the market and staying afloat during harder times. 

By Sumeet Manhas

© 2021 Copyright Sumeet Manhas - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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