The role of lawyers is dynamic, ever-shifting and demanding. According to a survey by Thomson Reuters, lawyers at smaller firms dedicate only about 60% of their time to client-related work. If you’re doing the math, that’s almost half their day spent on tasks unrelated to their primary role. This diversion doesn’t just decrease productivity—it also hits the revenue.
However, in the face of such challenges, creative solutions have emerged. The focus? Structuring firms to optimize efficiency and capitalize on expertise.
Reimagining Key Positions
Senior-level staff positions such as Director of Marketing, CFO, COO and Director of Diversity, are crucial for a firm’s holistic growth. But budget constraints can often make it challenging to hire full-time professionals for these roles. Here’s where reimagining comes in:
- Part-Time Roles: Instead of full-time positions, consider offering part-time roles for such crucial job titles. This approach offers the flexibility of hiring expertise without the commitment of a full-time salary.
- Outsource: Engage external experts like myself to play the role of a Chief Marketing Officer. Firms get the advantage of specialized expertise without bearing the brunt of a full-time executive salary.
- Internal Promotion: Another way to fill these roles is by recognizing and promoting talent from within. For instance, a senior lawyer or an alumnus with a deep understanding of the firm’s workings can transition into a managerial role.
The Outsourcing Trend
Many might perceive outsourcing as merely a cost-cutting exercise. However, it’s much more than that—it’s about efficiency, value addition and tapping into specialized expertise. Law firms are increasingly outsourcing high-value functions, which historically were kept in-house. This trend isn’t about replacing core competencies but enhancing them.
For example, as an outsourced Chief Marketing Officer, I offer law firms the knowledge, strategies and insights they need, all while operating externally. Similarly, firms are exploring outsourcing in areas like diversity, recruitment and even more administrative domains like finance and HR.
The Rewards of Outsourcing
Outsourcing does more than just save money—it reshapes focus. With specialized roles managed by experts, lawyers can direct their attention to what they do best: serving their clients. Similarly, firm management can strategize on growth and expansion.
For instance, consider the impact of having a fractional CMO. Marketing efforts become more streamlined, targeted and effective. Simultaneously, the firm’s legal minds can remain engrossed in their casework, knowing that their marketing is in expert hands.
In a world where focus is paramount, outsourcing offers a beacon of efficiency. It allows law firms to do more with less, ensuring every aspect of their operations is handled by those best suited for the job. After all, in the competitive legal landscape, isn’t it wise to direct energy where it’s most impactful?
Whether you’re considering outsourcing or looking for ways to reimagine roles within your firm, remember: it’s not about cutting corners. It’s about optimizing for success.