Pulling the Right Legal Levers to Respond to Continued COVID Uncertainty and Risk
By Axiom Law
As Omicron (and other new variants) spread, it will be those legal departments agile enough to respond to emerging matters who will be best positioned to mitigate risk, while minimizing costs. Legal leaders need effective levers they call pull to meet volatility head-on.
What levers do you need to pull—and when?
Spend levers are for when you are facing market uncertainty, and must revisit your budget allocation or variabilize costs. Many legal leaders are finding themselves once again driven to pull the spend lever as the new variant spreads, forcing them to reexamine their existing budget plans for 2022 as they strategize how to navigate the latest in unexpected legal challenges. Our whitepaper 2022 Legal Budgeting Strategy Amid Ongoing Uncertainty describes how an agile budget plan can help you pivot when and where needed.
Talent levers can be useful when GCs and legal leaders need to reassess their resourcing strategies, and are questioning if they need the additional expense of an outside law firm. Instead of the traditional in-house/law firm paradigm, alternative approaches can be useful during times of uncertainty when the department needs to have an agile approach to managing ever-changing workloads. The ideal legal paradigm consists of a core in-house team, an outside bench of virtual lawyers, and the traditional law firm. We have a report answering this exact question, with resources and case studies explaining how the agile approach to legal resourcing can help you mitigate risks while remaining cost-effective.
Give our reports a read to learn how Axiom can provide you with different levers to help navigate the volatility ahead – and then contact us so we can help.
The general counsel’s guide for how to clear the path for a more flexible, efficient and cost-effective legal ecosystem.
How flexible resourcing drives smarter budgeting and better legal outcomes
Eight reasons why the right legal budget model matters for General Counsels in the 2022 budgeting process.