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Webinar 8 Challenge and Change – how we can move out of COVID-19 and towards an evolved legal sector Webinar 8 - Challenge and Change 2

Uncomfortable facts At May, the UK Legal Industry generated revenues of £ 9. 34 bn in the first calendar quarter of 2020, down 6. 6% on the final quarter of 2019. And while there are usually falls between Q 4 and Q 1 due to seasonal factors, the drop this quarter was the highest in four years, a full one percentage point greater than the drop in the same period in the prior year. The final weeks of March cover the period when Covid-19 was beginning to impact the economy. Webinar 8 - Challenge and Change 3

Open the door to change Webinar 8 - Challenge and Change 4

Challenge and change • The impact of the pandemic on commercial business in general • The impact upon legal services • An opportunity for change and progress Webinar 8 - Challenge and Change 5

Kicking against or stepping forward? 1. Move from challenge into action 2. Action needs towards desired change 3. Respond, rationalise, strategise Webinar 8 - Challenge and Change 6

A crisis in crisis planning? • Are crisis plans agile enough? • Organisationally wide and deep • Not management centric Webinar 8 - Challenge and Change 7

Managing the crisis and the need for a ‘whole’ response • Much existing planning and strategy ineffective • Event-driven transformation Webinar 8 - Challenge and Change 8

Forced change • Home-working (WFH) • Less travel • Client meetings and negotiations disrupted but not completely denigrated Webinar 8 - Challenge and Change 9

Change bringing evolution • Evolution –v- Revolution • More ‘WFH’ but at what cost? • Evolution of client and provider Webinar 8 - Challenge and Change 10

Shift in attitudes • Alternative models of service and working • A natural step in the right direction? Webinar 8 - Challenge and Change 11

Reality check • “Alright for some” • Effective and reliable management of client and colleague relationships Webinar 8 - Challenge and Change 12

Familiar problems What does the client want? -VWhat does the client need? Webinar 8 - Challenge and Change 13

A new dawn? • Not necessarily • Flexibility and agility Webinar 8 - Challenge and Change 14

A refined emphasis • Productivity = Place • Quality –V- Quantity Webinar 8 - Challenge and Change 15

Mirror, mirror … • An honest look • Resistant and slow to change • “Mitigate and negotiate” Webinar 8 - Challenge and Change 16

Positive for all • Colleagues • Clients Webinar 8 - Challenge and Change 17

Final thoughts Change, real positive change, is not for the future or tomorrow, it is for here and now To be exceptional requires levels of consistency and habit, not a single response Webinar 8 - Challenge and Change 18

Thank You! • If you have any questions around any of the points discussed today OR • Any of the issues raised by this Webinar • Please contact the LTC team and we will be delighted to speak with you Webinar 8 - Challenge and Change 19