Time is everything for lawyers and professional service providers. It is their greatest asset, and the thing that they need to protect the most. But in today’s world, there are many more tasks beyond serving clients that need to be done
With remote work on the rise, will office space become obsolete? According to a study done by Boston Consulting Group, ‘1.5 billion square feet of office space could become obsolete’, with low utilization, high vacancy levels, and financial viability slipping away for many.
Having a remote law firm has many benefits, but it also has its costs. On the bright side, lawyers can reduce commute times, achieve a healthier work-life balance, and sometimes even increase their productivity, while lowering their real estate costs and workplace liabilities.
The “office-as-a-service” model, often referred to as OaaS, is a flexible approach to providing office space and related services to professionals, including attorneys. This model saves costs and provides law firms with all the support they need to thrive, with the flexibility to stay competitive in today’s changing marketplace.
The legal industry is changing. The COVID-19 pandemic has reshaped the way lawyers work, with some embracing the flexibility of remote work while others emphasizing the importance of in-person collaboration.
But for most small firms, office space rental is a big expense that needs to be considered carefully.
Keeping your law firm resilient and prepared for change is critical for its long-term success. This resiliency relies, in part, on your ability to pivot and stay agile in the face of change. But how can you achieve this resiliency in practical terms? Start by avoiding the number one.