Four Ways Legal Departments Can Survive (and Thrive) in a Recession

Forecasts suggest that a recession is on the horizon, causing particular stress to CEO's and the wider C-Suite. In a KPMG survey of 400 leaders of large U.S companies, 91% of respondents predict a recession in 2023, and only 34% believe it will be 'mild and short'.

It is imperative that Legal Departments adjust their legal operations to match challenging economic conditions. The benefits: weather this rough period AND build closer ties to the business side that can last far longer than an economic downturn.

Xakia whitepaper for in house legal departments

There will be a global recession, and a string of financial crises in emerging markets and developing countries

The World Bank, Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes

 

stressed at work - preparing for recession

Preparing your Legal Department for a looming recession

Take four key steps to help ensure your in-house legal team is prepared for a recession: 

  • Take a business-first approach
  • Assess your Legal Department service model
  • Review the Legal budget
  • Demonstrate the immense value delivered by your in-house legal team

With focus on a common theme, these key points take a proactive approach to preparing for a recession. Ensuring that better results are achieved than if the Legal Department were to sit back and wait to make changes.

Be proactive in preparing your Legal Department for an economic downturn

Download the white paper: Four ways Legal Departments can survive (and thrive) in a recession

In this white paper, we outline how in-house legal departments can partner with their organizations to face an economic recession and thrive!

Download the whitepaper now to get started.

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