In the last 48 hours, I’ve received a record number of calls from GCs–more than I’ve received in a similarly short timeframe at any point throughout my career. They are stressed, but steadfast. While managing multiple crises, they are asking the right questions; most importantly, they are asking for help.
GCs know how to manage the COVID-19 pandemic from a legal standpoint. They understand what lawyers need, what information to pull from their contracts, and how to mitigate risk for their company in light of potential majeure clause litigation.
Their main concern is managing legal resourcing, jobs, and team confidence amidst the current disruption. Their teams are long-time colleagues (and friends), and in some cases, many GCs are facing the decision to furlough critical portions of their teams due to the current economic outlook. They feel deflated by the thought of sending people home and stressed about how to navigate knowledge gaps, costs, and the delivery of urgent need.
With these challenges in mind, we created a flexible legal resource continuity program to help these GCs and our legal community:
Identify which legal professionals are critical to upcoming operations and the department’s long-term strategy, but may not be sustainable full time over the coming months
Brief those professionals on the option to join ElevateFlex during a furlough
As an ElevateFlex resource, we extend the professional back to the company on an as-needed, daily basis to deliver continuity of knowledge and experience
To the extent that the professional is not required full-time, we will leverage the ElevateFlex platform to identify additional work either within Elevate or with other Customers to augment their income
As the disruption is put behind us, release the legal professional back to their department at no additional cost
This plan provides GCs and their team several points of relief:
First, the shifting of in-house fixed costs and headcount, to a flexible, variable external cost
Next, it minimizes the immediate loss of talent and historical knowledge
It provides continuity during this time of surge issues due to COVID-19
It can offset the risk of resources moving to law firms or competitors
It keeps the team close, allowing for high potential reconvergence at the earliest convenience
We have experience of setting-up and support resources for extended remote working
The ElevateFlex Talent Community provides healthcare in cases where the company healthcare plan does not cover furloughed employees
The current situation is a difficult one. We realize this solution, while innovative, isn’t perfect.
There is no ideal solution that offsets the unprecedented challenges faced. However, we’d like to provide a process that is preferable to the current alternative, which may be a furloughed employee left without income and healthcare, looking for a position in a tight market.
The ElevateFlex Resource Continuity Program is available to help our customers and their employees. We’re here to help.
GCs know how to manage the COVID-19 pandemic from a legal standpoint. Their main concern is managing legal resourcing, jobs, and team confidence amidst the current
Matt is VP, Legal Business Solutions and leads Elevate's Legal Business Solutions and US Consulting practices which focus on design, development, and delivery of practical solutions to help corporate law departments and government agencies manage their legal operations and reduce legal spend, and help law firms improve profitability through the use of value-based pricing (AFAs) and project management. Prior to joining Elevate in 2016, Matt served as Executive Director and Global Head of Legal Business Solutions for JPMorgan Chase & Co., where he managed law department operations, including the selection and spend management of outside counsel and other legal service providers, as well as the creation and implementation of strategic cost and relationship management programs. Prior to that, Matt served in a senior management role with law firm ReedSmith, where he oversaw the firm's knowledge management initiatives and the creation of the team responsible for legal project management and alternative fees; and with WilmerHale, where he served as Managing Director, Information and Research Services. Matt was previously the CTO/CKO of LawPort and prior to that a practicing solicitor for a London-based law firm. Matt holds an LL.B and LPC from the University of Bristol.
Pratik is VP, Innovation at Elevate and spearheads cross-solution innovation across the globe. Most of Pratik’s time is spent working with enterprise accounts seeking to transform their legal function in terms of resourcing, spend and use of technology, and his career-to-date has been wholly committed to helping lawyers better manage the customer and business aspects of the law. Pratik joined Elevate in 2012 as part of the acquisition of RFx LEGAL Analytics, a leading provider of legal spend management, analytics and sourcing intelligence solutions, which, as a founding member and partner, he led from inception to becoming a recognized legal spend management provider. Prior to founding RFx LEGAL, Pratik served as a senior managing consultant at Huron Legal, where he played a key role in the rapid growth of Huron’s Legal consulting practice. Pratik was recognized as ILTA’s Most Innovative Legal Consultant in 2015 and also serves as faculty for College of Law Practice Management. Pratik holds a bachelor of business administration in finance from the University of Texas at Austin.