Forecasting the SME agenda

Josh Adcock speaks to Christina Blacklaws, managing director at Blacklaws Consulting and former president of the Law Society of England and Wales, who previews the major themes at LPM’s 2021 conference and offers her take on what the future holds for SME law firms.

Q: How does vision and business purpose factor into sustainable growth, especially in a disrupted market?

A: I’ve had a long career as an innovator and a law firm business leader, and things have changed dramatically – particularly over the pandemic. The importance of vision, values and purpose is really coming to the fore now – 10 years ago, if you asked a law firm what their purpose was, it was to make profit for their partners and keep their clients happy.

But now, we’re moving societally to a place where the values of a business can influence the most important things – like attracting and retaining staff or clients. Research shows that – particularly for millennials and Gen-Zs, who make up over 50% of the UK’s working population now – if you can’t evidence that your business’s value system aligns with theirs, they probably won’t be excited to come work for you – and likely won’t stay for very long.

Q: Which challenges will SME law firms face in the next six-to-12 months that are not being paid attention to with the necessary urgency?

A: We’re now looking to come back into the office to a new normal – which will probably mean some sort of hybrid-working. Health and safety measures are crucial, although a vital issue that law firms of any size need to prioritise is their people’s mental health and wellbeing. Everybody has had a rough time in some way or the other.

Q: Of the pandemic-induced changes to the legal business model, which do you think will stick or still need to be pushed further?

A: I’m gazing into my crystal ball like everyone else, but I think intentionality is key. If we don’t actively create a new normal that will work better for our business as a whole, we could just slip back into old ways.

And some might say “great! I’ve missed being in the office every day.” But most people have enjoyed the flexibility of remote working, which I think is here to stay in some form or another – to the point where, if you don’t have it, the talent out there won’t even consider you.

Crucially for law firms, we must retain our sense of culture and belonging in a much more hybrid-working environment. That’s a challenge firms need to get right.

Q: Which sessions from LPM 2021 will you be paying closest attention to?

A: They’re all extremely interesting – but if I were to pick out a couple, the one about adapting to a future workplace (Tuesday 14 September, 2pm–3pm) is very relevant and has some fantastic speakers from the legal community.

I know from my time as president of the Law Society is that succession is a big issue at the local level – so I recommend the succession planning session too (Thursday 16 September, 10am–11am).

And, because, I’m a tech geek, there’s a fascinating session about how we can really make the technology we have relevant to our clients and how we can engage them in our own journeys of innovation (Friday 17 September, 11am–12pm).

Don’t forget to check out our full conference agenda.