This blog series brings together sector reflections from our Patron network – leaders who play an active role in shaping Kingston’s economy and supporting its business community.
Each piece was first published in our 2024/25 Impact Report, where we asked: what’s changed over the past year – and what’s likely to shape what’s next?
The result is a collection of expert, actionable editorials. Throughout this series you’ll find perspectives on housing, education, digital experience professional services and more, reflecting the challenges and opportunities shaping Kingston’s economy.
Pearson Hards went through a huge change in 2024.
Following the retirement of three Partners in the last year, Emma Rothstein and Claire Darby took on
Co-Managing Partner roles to bring the firm forward, building on its already excellent position in the community, whilst seeking to grow and develop. This has led to the largest number of new recruits in a long time to replace the fee-earning Partners who have left, as well as growth in several areas prompted by the creation of new positions.
However, like other similarly sized law firms recruitment and staff retention continues to be a huge challenge for us. A recent report conducted by Actionstep studied 60 medium law firms (employing 20 to 500 people) to assess the trends that they have faced. Talent acquisition and retention was the top business goal for 78% of those surveyed. This was followed by client growth (60%) and emphasising efficiency through digital transformation (46%).
DIGITAL EXPERIENCE
Law firms are said to be lagging behind many industries when it comes to the uptake of AI. The reason many firms are reluctant to do more with AI is due to concerns over the accuracy of the information that it provides. Legal search was traditionally undertaken with a review of legislation and case law. This has been made easier with legal providers such as LexisNexis and Practical Law providing user-friendly information. However, there is a reluctance for lawyers to replace these traditional methods with technology like ChatGPT because it can often provide answers that look very convincing but which could ultimately be incorrect.
Law firms are instead looking at the use of AI to streamline other aspects of their work, such as for transcription of meetings, or onboarding of clients. Since the Covid-19 pandemic, most law firms have embraced the use of technology to meet with clients from further afield, and Teams and Zoom are now able to provide transcriptions, summaries of meetings and action points to take away which many firms are using. However, the adoption of such technology remains relatively slow. This may in part be due to security and also regulatory concerns.
COMPLIANCE AND CYBER SECURITY
Cyber security remains a huge concern for many law firms, with cyber criminals targeting them on a considerable scale due to large sums of money which are often transacted between firms. Most firms, including ours, conduct regular cyber security training for staff to ensure client data is protected and client funds are not intercepted. Keeping up with regulatory changes and training staff are ongoing hurdles for all law firms. Cybersecurity is a big financial investment, but most firms consider it an essential to protect themselves from the reputational and financial damage which could occur if they let their guard down.
SUMMARY
Mid-sized law firms are facing very similar challenges, with the main issues appearing to be recruitment of talent followed by regulatory challenges and cyber threats. We continue to focus on client satisfaction and ensuring that technology is used to enhance client experience, whilst not forgetting that good, old-fashioned, strong communication and information about costs remain hugely important.
Mid-sized firms that enhance client engagement, and leverage tech smartly will be best positioned for success in an increasingly competitive legal environment. We will be embracing this to ensure that the firm continues for another 60 years and beyond.
Pearson Hards LLP is a trusted New Malden law firm supporting clients through life’s milestones and challenges. Known for personal service, expertise and integrity, the firm combines progressive thinking with deep roots dating back to 1928 through its predecessor firms. Today, Pearson Hards offers clear, client-focused guidance across legal matters, ensuring the bigger picture is always considered. With a proud local history and a forward-looking approach, they remain committed to serving families and businesses with care.
Find more information at https://www.pearsonhards.co.uk/