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Business continuity plans for a post-pandemic world
Coming out of COVID-19, boutique law firms must realise that “the unexpected does happen”, and thus shoring up one’s business continuity plans is fundamental.
Jerome Doraisamy
The global coronavirus pandemic brought into sharp focus the need for sole practitioners and boutique firm leaders to have business continuity plans (BCP) in place. As Twine Business & Law director Cara Austen noted in late March, the reality is that many lawyers in this space do not have a documented BCP.
Lessons learned from COVID-19
Speaking once more with Lawyers Weekly, the pair reflected that the lesson to be learned from the pandemic is the “the unexpected does happen”.
“Many boutiques (myself included sometimes) operate on the basis that because we are small and nimble, we can adapt quickly to change – even unexpected change like a pandemic. However, those with plans almost always have the advantage as they’ve given thought to the unexpected before it occurs,” Ms Alilovic said.
Moreover, Ms Austen added, it has become clear that numerous individual businesses, including law firms, were not prepared for sudden changes to work.
“The firms that were able to keep working, however, were those that already had processes and plans in place that could be quickly adapted to changing circumstances. Some firms were lucky and were already operating in a way which lent itself to the requirements of social distancing,” she said.
“However, many of the very large firms clearly demonstrated the value in having a business continuity plan as they were able to be quick and decisive in implementing changes as the pandemic unfolded in Australia. For example, Clayton Utz closed its Sydney office in response to COVID-19 exposure concerns, but their teams were able to continue working. Boutique firms can learn from this.”
Taking steps to shore up your BCP
For law firms with just one to three people, not having a BCP may not have had as significant an impact as for larger outfits, Ms Austen said. But, she added, “the need to work out what to do and how to do it would have added an additional layer of stress to these firms that could have been avoided if a BCP was in place”.
“For larger boutique firms, the need for a BCP is even more pressing as we saw employee anxiety levels skyrocket during this period. A BCP provides the comfort of certainty and having a plan for those employees and law firm principals. All firms, regardless of size, need to think about having a financial element in our BCPs, just like we need a rainy-day bucket in our personal lives, we also need a business rainy-day bucket,” Ms Austen said.
Ms Alilovic agreed: “We need to have a financial buffer of at least three, preferably six months of expenses, to help the business ride through the difficult patch whilst making other changes to ensure business continuity.”
Inherent opportunities
Looking ahead to a post-pandemic world, Ms Austen said that boutique law firms that have been able to deliver client services with the same level of professionalism as before will be “well regarded” moving forward.
“The fact that I could continue to support my growing client base during this time meant that I was able to also work on business development. For many clients lawyers are their ‘rock’, clients rely on us to be the calm when everyone else has gone to crazy land. Many clients will now be much more aware of the need to ensure that their various service providers have BCPs in place. The fact that your firm has one is a point of difference that you can market around,” she advised.
“I learnt about BCPs in my corporate life. There [are] plenty of resources available on the internet. You can also talk with your colleagues. One thing to remember is that law firms aren’t really that special. Yes, we have certain things we need to be really conscious of, but if you are looking at BCPs from a high level, then learning from different industries will help [you have] a more holistic view.”
Both she and Ms Alilovic advocated mind mapping to help plan their BCPs, with the latter calling it a “great place to start”.
“Rather than focusing on what someone else says is important, you start by considering what is important to your business in only the way you can. Once you’ve done that, I recommend trying to find some general guidelines,” Ms Alilovic said.
“Your local legal insurance provider and law society [are] a good place to start. Then expand from there – talk to colleagues, look to other industries.”
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Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly and HR Leader. He has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. In June 2024, he also assumed the editorship of HR Leader. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of the Minds Count Foundation.
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