LexisNexis: From the frying pan into the fire?
The latest Bellwether report titled “COVID-19: The next chapter” was released today by LexisNexis Legal & Professional. The report highlighted that six months on from the nationwide lockdown, the devastating impacts of COVID have started to ease and firms are regaining their confidence. 4 in 5 firms believe they will be in business for the longer term. But it was clear that COVID is now just one of several headaches facing law firms.
The headwinds of Brexit, regulatory change and industrial shift weigh heavily on the minds of legal practitioners as drivers of concern and uncertainty. 49% say COVID is one of their top 3 worries, down from 63% at the height of the pandemic. Currently, 43% of small law firms see COVID depressing the legal market in the short-term, down from 49%. Thankfully, they also predict that the long-term impact of COVID will see increased demand (31%) or no impact at all (26%).
Moving from office to homeworking was a huge challenge and forefront of mind in March. Yet, even with a largely successful shift, new challenges have been exposed. Staff welfare was flagged by 58% of firms as one of their top concerns. This has risen sharply from 26% in March. 3 out of 4 lawyers are now experiencing feelings of isolation and a lack of motivation. This is a sharp increase since the outset of the pandemic and brings question to a long-term shift towards homeworking. Yet, 69% believed their work quality had improved or stayed the same since homeworking.
Our survey identified that miscommunication or insufficient communication is a growing problem for homeworkers. Only 26% saw this as a problem in March, compared to 44% in this survey. With so much legal change in the air, it is clear that this is an urgent business problem for firms to fix. Despite this, there continues to be a clear desire from lawyers to move towards part-time homeworking. The flexibility of working hours and a better work life balance being the main drivers.
Marin Daley, Small Law lead at LexisNexis commented “Law firms have worked exceptionally hard over the last 6 months to continue practicing and supporting their clients. The relief and positivism in this latest Bellwether is notable. However, it is clear that with one problem receding, the future is still uncertain.”
The report can be downloaded from: www.lexisnexis.co.uk/Bellwether2020.
