Professional firms are not immune to the global impact of the Coronavirus crisis. Many firms have implemented robust business continuity and remote working arrangements, but the impact on their clients and the global economy will require firms to continue to adapt (or face the most serious implications). This series will address the threats faced by professional firms and explore ways in which firms need to adapt not only to survive the crisis, but also to take steps now to thrive in the post-crisis environment.
Session 1: Firefighting to Survive the Crisis: Session 1 – Friday 24 April – 9.30–10.30am BST
i. How professional services firms are responding to the Covid-19 crisis.
ii. How values, ethics and brand reputation are shaping firms’ responses to the Crisis.
iii. What financial steps are firms taking to protect their firm, and what are the current lending criteria for professional services firms needing finance?
iv. Key risk management issues and complying with the risk management burden, including SRA regulation.
v. How are firms handling partner drawings/distribution changes and are profit sharing arrangements already changing?
vi. Partners: how are partners sharing the risk and pain, and protecting the business through the crisis with improved LLP provisions and restrictions? Is it now too late to put these protections in place?
vii. How firms are handling staff issues: employee well-being; reduction in hours, furlough and redundancies.
Session 2: After the Crisis: Strategic Advance Planning for Firms to Thrive After the Crisis is Over – Thursday 7 May – 9.30-10.30am BST
i. Impact on managing office space for professional services firms.
ii. Retaining and motivating key talent.
iii. Pruning the Partnership post-crisis.
iv. Revisiting Partner remuneration to realign partners for the future.
v. Learning the lessons from the crisis – reconstruction, recovery and strategic change for firms.
PPA Speakers:
Corinne Staves, Maurice Turnor Gardner LLP – Partnership Law & SRA Regulation specialist
Zulon Begum, CM Murray LLP – Partnership Law & M&A specialist
Claire Watkins, Buzzacott LLP – Partnership Accountant and Adviser
David Shufflebotham, PEP-Up Consulting – Partner Remuneration specialist
Robert Millard, Cambridge Strategy – Law Firm Management Consultant
Sarah Chilton, CM Murray LLP – Partnership & Employment Law specialist
Session Chair:
Clare Murray, CM Murray LLP – Partnership & Employment Law specialist
