A recessionary economy is particularly disruptive to legal departments.
A recessionary economy can be a prohibitor to growth, and it often forces your team to pivot and do more with less. Additionally, at a time when many legal departments are busier than ever, GCs are often left wondering, “How do I build the legal team I need when I can no longer hire in a potentially recessionary economy?”
The answer is more simple than most legal leaders expect: reducing investments in fixed costs and hires via flexible resourcing allows GCs to build and maintain the sustainable, high-performing teams required to withstand economic uncertainty.
In other words, flexible resourcing allows GCs to establish an agile legal department with a leaner full-time team to provide managerial scale and handle core competency work.
In a period of economic uncertainty, and especially when entering a potential downturn, companies must not only move fast to navigate uncertainty, but they must also pivot quickly – a dynamic that has enormous consequences for the legal team.
