Surviving and thriving through recessionary headwinds
18 October 2023
Ashurst Reach partnered with the Association of Corporate Counsel to explore how in-house legal teams can survive and thrive through recessionary headwinds.
What you need to know
The global economy continues to reel from pandemic-related measures, geopolitical instability and high inflation. With bottom line pressures at play, many executives have been preparing for the worst.
Ashurst Reach partnered with the Association of Corporate Counsel (ACC) to host roundtable sessions in Perth, Melbourne, Sydney and Brisbane.
More than 40 participants shared key measures in-house legal teams can implement to survive and thrive in challenging market conditions.
- As one participant observed, updating precedents is “always on the to-do list, rarely on the done list”. Participants delve into tried and true strategies for moving precedent and clause banks to the 'done-list'.
- Upskilling the business is commonly agreed to be the most effective way to preserve legal resources. The roundtables surfaced themes of education and resourcing.
- Reducing silos, increasing collaboration and allocation of resources can all be supported by undertaking workflow audits to increase efficiencies.
- Investment in process automation and technology for low-level work can be a daunting task, but is seen to boost perceived team value and retention.
What you need to do
- Download the 'Survive and thrive' report below.
- For more information on Flexible Resourcing, see below.
Author: Linda Grace, Director & Practice Head, Ashurst Reach.
