“Recent strategic research indicates that businesses that invest in growth during a downturn emerge from it as the best performers” says FCW Lawyers principal, Sotheary Bryant, “and we are encouraging our clients to adopt this mindset.”
FCW Lawyers has been practicing what we preach too, expanding our workplace and commercial teams with the addition of five lawyers in recent months. “Whilst many law firms are stilling focused on reducing costs, reducing head count and salaries, FCW Lawyers is doubling down on growth.” advised Managing Principal, Andrew Douglas.
Recent additions to the FCW Lawyers family include Peter van Rompaey, Kendra Harrison, Jewlia Holt, trainee lawyer Nelly Niven-Hubble and consultant Bob Gardini. Both Peter and Bob bring with them 30 plus years of being the trusted advisor to clients in the Motor Dealer, Food Manufacturing and Franchising industries.
This means that FCW are also even better placed to assist clients with their growth plans. Our expended team can now handle most, if not all, legal issues in workplace, commercial and corporate dealings.
A recent study examined the performance and growth strategies of 2000 companies between 2007 and 2017. The growth interventions they identified were on three dimensions:
- The biggest winners grew right through the downturn
- They invested on less cyclical parts of their business; moved into adjacent industries or expended into high growth geographies
- They went beyond organic growth launching or expanding M&A programs
“My own experience during the GFC in 2009/10 meant that I understood this dynamic intuitively” Managing Principal Andrew Douglas said. “Those law firms that went into purely survival mode and waited until after the GFC to expand missed the boat.”
Rob Patterson, Virtual CEO, added “we had two key focuses during the pandemic: our first was the health and well-being of our staff. Our investment in health and wellness, and maintenance of full wages for all employees resulted in our team feeling both emotionally and financially supported by the firm. Our second focus was honoring our growth strategy, to ensure we emerged from the downturn stronger and better able to meet the needs of our clients.”
For more information on a future with FCW Lawyers please visit our careers page.