There are four levels of sophistication in law firm business intelligence – descriptive, diagnostic, predictive and prescriptive. Identify your firm’s level and improve profitable growth.Read More
Law firm dashboards come in two primary varieties: one is based on tasks and guides timekeepers to the next logical required activity without distraction while the other is a graphical representation of data to support decision making.Read More
Aderant suggests law firms examine their existing metrics for benchmarks, analyze previous lateral cohorts, and map the analysis to strategic goals for future lateral hires.Read More
Law firms often confuse business reporting with BI, but one assesses the past while the other enables partners to shape the future.Read More
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 […]
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 […]
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 […]