Tag - Business Intelligence

Business Intelligence

Think Tank: How Law Firms are Using Business Intelligence to Improve Profitability

What should legal services cost on a per square foot basis? That’s the sort of pricing pressure a real estate development client once placed on a large law firm – and amazingly the firm was able to accommodate the client.
Real estate clients just “think” in terms of square footage and in that industry, pricing often varies by volume. As a result, the client couldn’t understand why legal work for 4,000 square foot building was priced the same as for […]

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business intelligence

Lateral Hiring: Five Metrics for Benchmarking Top Performers

There’s an old adage in marketing that half the budget is wasted, we just don’t know which half.  The same might be true for law firm lateral hiring, as stated by a recent ALM survey which found a disconnect between the goals and results of these programs.
Most law firms say lateral hiring is important to growth, however, about half of these hires deliver below expectations. More specifically, the survey found “30 percent of laterals deliver less than half their […]

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Business Intelligence

Three Overlooked Elements in Law Firm Lateral Hiring Analysis

The promise of lateral hiring is accelerated growth.  For that reason, hiring more laterals consistently ranks among the top law firm growth strategies.
A recent study published by Robert Half Legal found that nearly a quarter of lawyers surveyed said their firms “will increase its hiring of partner- or senior-level attorneys in the next two years.”  In addition, more than half of the attorneys in the survey believe lateral hiring was “very effective” or “somewhat effective.”
The lateral hiring rationale is […]

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