In the first pass at uncovering how firms can adjust Scott Rechtschaffen mentioned it must start with preparing law students. He went on to state that, “The technology and process lawyers use to deliver legal services to their clients must inevitably change”. These were his three tenents:
- Clients will no longer accept annual rate increases from outside counsel
- Clients continue to prefer to bring more work in-house
- Clients will look for alternatives to outside counsel for routine and repetitive tasks
In essence no client is going to pay top dollar for lower associates anymore. They would rather hire their own attorney and teach them the basics for the more mundane routine tasks.
In one of the more interesting anecdote’s Scott Rechtschaffen at Littler Mendelson described a firm leadership meeting he ran with 450 shareholders in attendance. He asked the following of his audience. Would you bank with a firm that did not have online account access? Would you buy tickets from StubHub if they did not disclose the location of your concert tickets? Would you book a flight with an airline that did not display your seat location? To each question it was a unanimous, “no”. So he asked, “Then why are your clients denied that level of basic access?” He mentioned that story resonated with everyone in the room. Their firm began a rapid movement and adoption of innovation from that point onward.