Too few firms invest in company culture
Too few firms invest in company culture
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A concerning number of SME law firms in Australia are failing to make sufficient investments in culture as part of the business’ strategic growth, new research has found.
Cloud-based legal practice management software business Smokeball has released its State of Small Law Australia Survey, for which it interviewed 134 small law firms across Australia in February 2021, and found that a concerning number of SMEs are not taking enough time to improve their cultural environments.
Lack of investment
The interviews found that three in four (77 per cent) of SME law firms – which, as the 2020 National Profile of Solicitors noted, are the overwhelming majority of legal practices in Australia – see good culture as a strategic benefit for the business, given the flow-on consequences of increased client satisfaction, improved productivity, and business growth. Just one-quarter (23 per cent) of firms said they don’t see the strategic benefit to good culture.