³ÉÈËÓ°Òô

Small law firms face a lot of competition. There are the alternative legal service providers – the disrupters – who often attract lawyers focussed on tech and innovation. There are the big four – the monoliths – who promise greater efficiency and name recognition. There are the US firms – the outsiders – who can offer lucrative salaries as they expand across London.

But perhaps the biggest competitor from small firms, the biggest challenger in terms of attracting lawyers, comes from platform law firms. Platform law firms are rising. According to , for example, the number of UK lawyers in platform law firms increased by 29% in 2018 and continues to grow. In addition, according to , one third of lawyers could be working for platform firms in the next five years alone.

Platform law firms are already taking lawyers from small firms. And the reasons are obvious. As explored in a recent ³ÉÈËÓ°Òô report, platform law firms offer an attractive operating model. Lawyers work as self-employed consultants under a revenue-sharing model that allows them to keep the bulk of client fees. Excess funds are spent via a central network, which provides basic tools such as legal technology, insurance, branding services, and more.

So how can small firms compete with platform law firms? They can start by following the example set by platform law firms and by playing to small law strengths. Here, we offer a recruitment strategy for small law firms to help them attract talent and retain the best talent.

Creating the right culture

Darryl Cooke, co-founder of , explains that one of the best ways to attract and retain talent is through greater flexibility. In the ³ÉÈËÓ°Òô report, Cooke says of the platform law firms: ‘If [lawyers] don’t want to work Fridays, they don’t work Fridays. If they want to take six weeks off in the summer, they take six weeks off in the summer.’

Flexibility is at heart of the platform law model. Small firms that want to compete should offer the same options: agile working, remote working, and a greater work-life balance. Greater flexibility not only benefits lawyers, but it benefits firms, too. , for example, that hybrid working models improve employee wellbeing, ensure better staff retention, reduce costs, improve in-house collaboration, and broadly increase productivity.

The move towards flexibility has positive knock-on effects, too, such as increasing diversity. ‘[Platform law firms] offer flexibility to someone returning after maternity leave and [allow them to] work around school hours,’ says James Harper, senior general counsel at ³ÉÈËÓ°Òô. Small firms can champion flexibility to promote diversity, attracting and retaining the most talented people from every background, in various circumstances.

Focus on client work

There are complaints across the legal sector about too much admin, too much time spent on billing, and so on. The platform law firm promises to get rid of needless bureaucracy, keeping only the essentials. The absence of bureaucracy means legal consultants can spend more time with clients. That alone makes the platform model massively attractive for lawyers.

Take private property lawyer Ian Cooke, for example. After working in private practice for three decades, Cooke felt he was spending too much time on admin and management rather than working with clients. ‘The thing about getting senior in a big City law practice is that you can pick up a lot of management responsibilities,’ Cooke says in the report on platform law firms. ‘I felt my practice was being a bit ignored – I didn’t become a lawyer to be a manager.’

Small firms should follow the example set by platform law firms. They should focus on small-scale legal automation to free up lawyer’s time and allow them to focus on client work. They should streamline repetitive tasks, invest in efficient tech to improve processes, and ensure that lawyers are dedicated to finding client solutions.

Get more insights on how your small law firm can compete with platform law.

Promising a bright future

Another key strategy for small firms is to focus on younger lawyers. With such a variety of legal avenues, firms should ensure they have structures and processes in place that can help young lawyers get (and stay) ahead.

So, yes, small firms should offer flexibility and opportunities for client work, but they should also offer back-office support, mentoring, sufficient training, and the right tools to succeed. They should nurture younger lawyers, invest in their futures, and reap the rewards further down the line. They should, essentially, play to the strengths of small law firms.

Small firms should also attract younger lawyers by ensuring their policies, clients, and mission are clear and ethical. Put sustainability at the heart of your firm, which will not only support the stability of the planet, but will likely prove attractive to talented young lawyers, too.

Small law firms need to compete on the same ground as platform law firms, offering flexibility, improved culture, streamlined services, and an altogether better work-life balance. But they should also take advantage of the personal nature of small law, ensuring they provide the right support and a sense of purpose, which will help them attract and retain the very best.

Click here for more information about the true impact platform law firms will have on the legal market.