When we were at school, we were all studying lessons about WWI, WW2, etc. All these happenings highlighted some parts of human history. Well, it seems that we are all currently living in one of those parts. The Coronavirus pandemic is something we will talk about with our grandchildren.
Do we even have to say which effect the pandemic has on the lives of people? First of all, the borders of many countries were locked down for foreign tourists. Despite that, we all had to spend our time at home and respect the social distance rule. Indeed, things are slowly getting back to normal. However, we can’t predict what exactly is going to happen in the future.
Despite the negative influence on the mental strength of people, the economy of the world changed a lot. Most of the changes we will see in the next couple of months. Industries that were considered as the most profitable lost a lot of money. We can use tourism in Italy and Spain. Both countries were welcoming millions of tourists yearly. Well, it seems that entrepreneurs in this field will have to be creative more than ever before.
Things are not different when we talk about law companies. This industry has also suffered a lot. All the trials in the world are canceled and many lawyers are waiting for the better times. However, the “waiting” is not going to pay off a lot. It won’t cover your costs, pay your bills, or protect you from the virus. The most important thing for all law company owners is to be flexible and adapt to the changes we have.
Doing something like that seems impossible at first glance. However, you should not forget that things will sooner or later get back to normal. Because of that, using this time most efficiently is crucial. Fortunately, you came to the right place to hear some useful pieces of advice.
Let’s find out together 11 tips for your firm that can help you operate smoothly during COVID 19.
1. Review and update virtual office systems
This is the best time to implement a virtual office system. You can quickly glean from other virtual office systems and institute your own system. In fact, you have almost all the tools in-house. All you need is a point person to put together the mechanism and compile a manual to be followed by all employees.
2. Clear backlog
This is an excellent time to catch up on clearing any backlog your employees may have had. You can ask these employees to do so.
3. Train employees
This is also the best time to complete the training of employees, which you had put off for various reasons. You can identify the ones that are slated for future high positions and enroll them in virtual training programs.
4. Multi-discipline training
This is also the best time to equip your employees with skills in other disciplines, advises Jonathan Rosenfeld of Rosenfeld Injury Lawyers. This will stand you in good stead for the future, as employees will be more enlightened and job rotation can become a major part of your HR policy.
5. Paycheck Protection Program (PPP)
The COVID19 pandemic has forced the government to offer a stimulus package worth over $2 trillion, from which $350 billion has been allocated to help small businesses to retain workers. This is a Paycheck Protection Program (PPP), in which loans given to firms are 100% guaranteed by the federal government. In fact, there is a provision to forgive these loans, provided certain conditions are met. You can see the details here.
6. Apply for small business loans
There are other loans such as Economic Injury Disaster Loans and Express Bridge Loans, which you could explore. These are on liberal terms and you can make use of the facilities during these trying times.
7. Review current loan obligations
If you seek deferred payment for your existing loans, your bank is likely going to accept. You can discuss various other issues, such as waiver of late fees and credit limit extension. The banks are likely to extend support.
8. Treat clients with kid gloves
Your clients are your mainstay today and for the future. Offer them services that can be done through your virtual office system. Keep them informed of the changes that are taking place. Engage them through video conferencing to keep in touch. Concentrate on the clients that the COVID19 pandemic has affected the most.
9. Altered business paradigm
Since regular business is affected, it is for you to look to other business opportunities that are amenable to virtual office systems. These could include depositions, mediations, and arbitrations. Courts are also adapting and you need to look out for communication from federal and state courts.
10. Make plans
This is again a good time to form task forces to work on future plans. You can set goals for them to prepare plans including strategy, implementation, and timelines.
The COVID19 pandemic has had a cascading effect on the entire business chain. Your vendors are equally affected. It makes sense to engage your vendors to discuss support received from federal and state governments. You can work out a plan of action where you and your vendors benefit together.
11. Show empathy
You can be empathetic to other people’s causes. You can take the lead in setting up company-supported, employee-led groups to assist in various COVID19 related tasks that can help people. This could also include a special task team to help employees and their families being physically affected by the COVID19 disease.
As a progressive law firm, you can show the way for other firms to follow. You have to make use of all the facilities provided by the federal and state governments to tide over the situation. You can also use the time to overhaul your entire system to be ready to face the future. In doing so, you will keep your firm running smoothly, as there would not be any idlers in your firm.