Innovate or capitulate?
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The SRA is encouraging us to innovate, but will the lesson from Slater and Gordon make us think twice?
Innovation is not a word that is commonly associated with legal practice. The general assumption is that the profession is founded on conservatism; we're considered a safe pair of hands, risk-averse, and living by basic principles of right and wrong in a greyscale environment. Of course, having experienced the profession from the inside, we will know that we are where we are today because of the innovators. After all, someone had to be the first solicitor to use email.
Innovation in legal practice may come about in many ways. Sometimes it will be through necessity, as many legal aid firms have found out over the past few years. Other times, client demand (such as atypical charging methods) will force us to reassess how we work. Sometimes, innovation will happen by mistake, ideally a by-product of another successful foray.
With good reason, one of the key criteria of the Solicitors Journal Awards has been innovation in practice across the breadth of the award categories. Although firms' and individuals' focus may be on the delivery of client service, there are those who are pushing the profession's boundaries in new and exciting ways.
But in order to innovate it is sometimes necessary to take risks. I've recently suffered through watching some daytime TV and was surprised to see just how many legal outfits are scheduling commercials. One of the most frequent was for Slater and Gordon, but that might be set to change. You cannot fail to have heard about the huge financial losses suffered by the Australian firm, which now means that its lenders are demanding reform strategies, and office closures and reorganisation are imminent. Slater and Gordon has been seen as one of the key innovators in legal services, floating on the stock exchange, developing a fast-track personal injury service, and making ambitious purchases of several established firms in the UK. It is anticipated that client service will not suffer, but sadly the loss of jobs seems inevitable.
Although it is only one part of what we do, without innovation, the status quo will soon become stale and no longer fit for purpose in the fast-paced and quickly evolving business world. Against a backdrop of constant change, cuts, and competition, fresh perspectives and new ideas are no longer an option, they are a necessity.
It might be unexpected, but the Solicitors Regulation Authority (SRA) recognises the need to change and is encouraging organisations to work with it to explore new business structures and client service. On the back of a paper presented last year, the regulator is hosting the 'SRA Innovate' conference later this month, and is inviting innovators and the innovation-curious to join the discussion, test the barriers assumed to be presented by regulation, and hear from those who have met the challenge. As chair of the event, I'm looking forward to hearing about where the profession will be in the coming years and how others are already steering their course.
As a final aside, I took a step into the unknown this week and joined a new firm, Child & Child, as a partner. I hope that some of my own innovative ideas might catch on in the coming years, but all in good time.
Kevin Poulter, editor at large