Creating a Connected Workplace

According to a recent PwC survey, 88% of C-level executives have reported higher than normal turnover. This challenge, coupled with evolving employee expectations, means firm leaders must embrace a hybrid workplace to attract and retain top-tier talent.

Christina Floyd and Karen Leastman

Vice Presidents
First American Legal Finance

Forward-looking legal organizations are successfully investing in and executing a hybrid-first model with a focus on the following strategies.

1. DOUBLE DOWN ON TECHNOLOGY

Growing technology investments is increasingly important for law firms to succeed.

Digital Transformation: The importance of tech-enabled work has never been so great. Digital transformation efforts like VPNs, data centers and software upgrades, which were once part of long-term strategic plans, have been accelerated to keep pace with the rate of change.

Cybersecurity: As firms shift their work environments, there is a heightened risk for data hacks and breaches. By implementing technology solutions, law firms are strengthening their cybersecurity to bolster their hybrid working infrastructure.

Mobility: Investments in laptops continue to surge, providing more flexibility for attorneys and staff to work in and out of the office.

2. REAL ESTATE REDESIGNED

The physical office isn’t just a place to get work done — it’s now essential to inspire collaboration and enrich company culture. Law firms are redesigning their office layouts to include:

Communal areas to encourage conversation and facilitate impromptu collaboration
Mixed-use spaces with movable walls and multipurpose furniture that can be adapted to employee needs
Unassigned workstations and reduced number of private offices
Open plan concept for first and second years lawyers to promote comradery and community, while providing easy accessibility to nearby leaders.

3. AMENITIES THAT MATTER

Law firms are strategizing on how to design a space that creates experiences, embodies firm culture and ultimately drives employees back to the office. A hospitality-driven workplace with ample amenities is what reunites people at work.

Work-focused amenities include libraries, cafés, fitness centers, focus rooms, outdoor terraces, collaboration spaces that allow you to work alone, but with colleagues, and other shared spaces that encourage conversation and foster associate-partner relationships. An amenity-rich environment promotes a variety of high-quality experiences firms can provide, which ultimately will set law firms apart from competition.

4. LEVERAGING A TAX LEASE

Financing office buildouts using a tax lease allows law firms to simplify their workplace projects, while strategically maximizing the tax benefits for their partners. A leasing company can help customize a finance solution that fits a firm’s needs.

Benefits of a tax lease:

Expense rental payments
Align lease cost to tax benefits
Maximize partner distributions
Eliminate a large single-year future write-off
100% financing, including soft costs

Amidst the ongoing war for talent, a well-executed workplace strategy can help set law firms apart and ultimately help create a connected workplace.

About the Authors

Christina Floyd, MBA, is a Certified Lease and Finance Professional (CLFP) and has almost a decade of equipment leasing knowledge and dedicated experience working with the legal industry. Additionally, she has successfully completed the Legal Management Finance Specialist Certificate Program through ALA. In her tenure, Floyd has been instrumental in growing First American’s legal business to more than 250 firms.
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Karen Leastman has more than a decade of equipment leasing knowledge and dedicated experience working with the law firm industry. Since joining First American in 2003, she has been a key contributor in building First American’s law firm division which now serves more than 250 law firms across the United States, including Am Law 100 and 200 firms. As a Certified Lease and Finance Professional (CLFP), Leastman is a leader in the equipment leasing industry.
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