Challenges facing legal teams in the next 5 years

Challenges facing legal teams in the next 5 years

 

In 2020, there is an increasing pressure on in-house lawyers to act as not just legal advisers, but as leaders of their organisations who help shape the future of their companies.

LexisNexis have gathered the key challenges quoted by leading Legal Operations executives from our Legal Ops forum, as well as from Dana Denis-Smith, CEO of Obelisk Support, a provider of flexible legal services for the in-house market.

Read below for some food for thought regarding the direction of the industry.

 

Top talent comes at a price

 

Dana Denis-Smith, CEO of Obelisk Support—a provider of flexible legal services, believes attracting and retaining talent in the face of increasing pressure to cut costs will be the number one challenge for most legal teams.  

"It's encouraging to see more and more legal leaders embracing alternative working arrangements within their teams, such as placing overflow work with flexible consultants and offering full-time employees flexible and remote working opportunities", says Dana.

"This approach is going to be vital as competition for legal talent increases and to prevent employee burnout. It does, however, require senior and aspiring leaders to pay more attention to developing their personal style, as they will need to get results through building buy-in to their vision and values, rather than relying on direct supervision."

 

From our in-house roundtables, we know that finding the budget to recruit talent and making the right resourcing decisions in an increasingly competitive market is a key concern for in-house legal teams.

People are an unknown quantity, they have dreams, emotions and can change their minds about what it is they want. There is no ‘one-size-fits-all’ approach to managing people; it’s not just about offering perks, but more about creating a bespoke way of learning about what motivates your team, and then acting on it.

Many industry leaders have discussed the challenge of developing a knowledgeable, agile and strategically adept workforce, while functioning in a digital world—which has its own leadership challenges. 

Read our articles: Is flexible working the answer

Subscription Form

Already a subscriber? Login
RELX (UK) Limited, trading as LexisNexis, and our LexisNexis Legal & Professional group companies will contact you to confirm your email address. You can manage your communication preferences via our Preference Centre. You can learn more about how we handle your personal data and your rights by reviewing our  Privacy Policy.

Related Articles:
Latest Articles:

Access this article and thousands of others like it free by subscribing to our blog.

Read full article

Already a subscriber? Login

About the author:

Amy leads the thought leadership and content marketing strategy for LexisNexis UK, creating insights for corporates and legal professionals. She is an established writer and researcher, having contributed to publications, such as The Law Society, LPM, City A.M. and Financial IT.