Adrian Tan, lawyer, author and commentator, shares his thoughts on the continued growth of the legal business.
Coming out of a pandemic, and into a series of challenging global and local situations — logistics issues, inflation, rising costs, workforce evaluation, disruptive technologies, clouded judgement etc. etc. — how will 2023 shape up?
STORM-ASIA talks to industry players about their observations and approach to the new year. The interviews will be featured over the month of December.
Attracting Business And Talent
The legal industry in Singapore must address two issues: The challenge of Singapore to solidify its position as a global legal hub; and the need to attract and retain young lawyers in the legal profession.
For the first issue, we see that companies from the financial, technology and other industries are moving from other regional hubs to Singapore. This continues a trend that was in place before Covid.
Now that we have opened up, we should redouble our efforts to remind those in need of legal services to consider Singapore as a highly-respected, capable, transparent and English-speaking dispute legal hub.
For the second issue, we have to re-engineer legal practice to ensure that the needs of the younger generation of lawyers are met, while ensuring profitability.
The younger generation, having become accustomed to legal practice in the age of lockdowns, will have to be shown the benefits of working in the office, learning first-hand from seniors, and building friendships with colleagues and team mates.