Law firms who wish to innovate and ready their legal services for the future are transforming how they do business and often, drastically re-drawing their business models in order to stay competitive. And while it’s hardly news that change across an organization doesn’t just happen organically, but instead needs a strategic approach and buy-in from stakeholders, especially law firm partners. Indeed, this has been proven decisively in real-world case studies.
The psychology of how people respond to change within a law firm can offer insight which will help innovation projects to succeed.
A new white paper — What Can Law Firms Learn from the Psychology of Change Management?, written by Lucia Sandin — delves into how law firms need to understand the psychology of change management and how deeply it can impact the success or failure of any new innovative or technical system adoption.
In the paper, Sandin, a Senior Marketing Executive for Thomson Reuters, Legal, U.K. & Ireland, outlines four principles that are vital to the success of any change management strategy.
The need for change can result in industry-leading innovation, but in practice it is not always welcome internally. It often means people have to modify their ways of thinking and their ingrained habits. Change management as a formal process has traditionally been applied in the corporate sector, but in any sector, change is a complex process which warrants careful handling.
In the case of law firms, we see that with an increasing number of alternative legal services providers hot on their heels and the traditional hourly billing model weakening, market conditions have changed. Clients are no longer an unlimited pot, and the old model doesn’t encourage the efficiency or transparency which clients now demand.