How Can Legal Departments at Small to Mid-Sized Companies Navigate a Recessionary Economy?
By shifting costs from fixed to flexible resourcing.
This paper covers:
- Pain points GCs at small to mid-sized businesses (SMBs) face
- Minimizing costs and empowering GCs at SMBs
- Employing smarter legal budgeting
- The CBF model
- An SMB legal department case study: CBF by Axiom, for Axiom
- Building a pre-recession agile legal pilot within your SMB company
A recessionary economy is disruptive to legal departments, and this is especially true for legal departments at small to midsized companies. While company growth may be hampered by an inflationary and uncertain economy, legal risks only expand.
GCs at SMBs are often left wondering, “How do I build the legal team I need when I can no longer hire in a potential recessionary economy?”
The answer is simpler than most GCs at SMBs realize: Leaner legal departments at SMBs can be supported almost entirely by a bench of trusted, on-demand, budget-friendly lawyers who provide as-needed expertise for workload surges and ongoing matters.
Following the CBF model allows SMB GCs to build the sustainable, high-performing teams required to withstand economic uncertainty while elevating and scaling the legal department’s capabilities and bandwidth, even during a downturn.
The paper that follows is a playbook outlining how to architect a high-performing, agile SMB legal department during a period of economic uncertainty.
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