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<blockquote data-quote="Dheepa" data-source="post: 72307" data-attributes="member: 1572">I think this question requires a two-fold assessment. One, what is the state of the legal market - I'd say it's very competitive at the moment with clients being in the driving seat because they are spoiled for choice with the range of firms. Two, in a market like that what can PMC do to differentiate itself - as you rightfully say, this can involve multiple things like attracting new employees, cutting costs, new clients etc.Some things I think are worth looking into: <ol>
<li data-xf-list-type="ol">A lot of firms are offering consultancy services/consultant lawyer roles - this gives clients access to reputable lawyers who want more flexibility with their hours (these consultant lawyers tend to work on 20-35 contracted hours a week - see A&amp;O's model for this).</li>
<li data-xf-list-type="ol">Building better relationships with existing clients - more client events, webinars, wider social media presence, better branding (Travers Smith recently underwent a huge overhaul in their branding - think about why this is, and what that says for how they want to position themselves to clients)</li>
<li data-xf-list-type="ol">Diversity - <a href="https://www.thelawyer.com/bt-throws-down-gauntlet-to-panel-our-most-diverse-firm-gets-rehired-automatically/" target="_blank">companies </a>are increasingly making decisions on who to include in their legal panels based on a firm's diversity statistics. What can PMC do to ensure they continue to represent interests (such as diversity) that are important to their clients</li>
</ol>Hope that gives you more ideas!</blockquote>

[QUOTE="Dheepa, post: 72307, member: 1572"] I think this question requires a two-fold assessment. One, what is the state of the legal market - I'd say it's very competitive at the moment with clients being in the driving seat because they are spoiled for choice with the range of firms. Two, in a market like that what can PMC do to differentiate itself - as you rightfully say, this can involve multiple things like attracting new employees, cutting costs, new clients etc. Some things I think are worth looking into: [LIST=1] [*]A lot of firms are offering consultancy services/consultant lawyer roles - this gives clients access to reputable lawyers who want more flexibility with their hours (these consultant lawyers tend to work on 20-35 contracted hours a week - see A&O's model for this). [*]Building better relationships with existing clients - more client events, webinars, wider social media presence, better branding (Travers Smith recently underwent a huge overhaul in their branding - think about why this is, and what that says for how they want to position themselves to clients) [*]Diversity - [URL='https://www.thelawyer.com/bt-throws-down-gauntlet-to-panel-our-most-diverse-firm-gets-rehired-automatically/']companies [/URL]are increasingly making decisions on who to include in their legal panels based on a firm's diversity statistics. What can PMC do to ensure they continue to represent interests (such as diversity) that are important to their clients [/LIST] Hope that gives you more ideas! [/QUOTE]

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