When Money Is Tight, How Can Law Firms Keep Morale From Falling?

Anchor-Article-202101261631

Since the beginning of Big Law, several midsize firms have worn that “Big Law” label with pride. With this label, each firm touts an unmatched culture, a certain attractiveness that makes their firm special, and much more appealing than the large AM Law 100 operations. 

However, in crisis, that special label gets put to the test.

As we are coming up to a full year since the COVID-19 pandemic became a known threat to the United States, along with its economy, law firms of all sizes have reacted, adjusted and readjusted. In a few cases, they’ve overcorrected.

At many Big Law firms, partnership is a different experience from one partner to the next, depending on whether that specific partner is in the equity tier. And within the nonequity group, whatever love money can buy may be fading.

Financial success last year has not been a guarantee for healthy culture, however, healthy culture can help law firms weather these tough financial times.

Are you interested in learning more about when money is tight, how law firms can keep morale from falling? Read more in this law.com article.

Author:
Victoria Ostrander
Assistant Editor
The American Lawyer | National Law Journal | Corporate Counsel
Email: vostrander@alm.com
ALM Media Properties LLC