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All lawyers want to be wanted and valued by their firms. According to the famous psychologist, Abraham Maslow, everyone needs to understand how they fit in and have a sense of belonging. It has become apparent that tomorrow’s legal talent requires even more hand-holding than previous generations because the “just do it” attitude, does not work. They want to understand why and what’s the payoff of their efforts. By creating a firm culture that addresses these concerns you will heighten your firm’s ability to retain precious talent. Following are 10 strategies your firm can implement.
Law Firms Enter the Golden Age of Data Mining
By Doug Stansfield
Data mining is a relatively new practice in the legal space and the data profiles of firms are highly variable from one organization to another, so identifying the right tools and prioritizing initiatives can be challenging.
Bursting the Bubble of Associate Compensation
By Timothy B. Corcoran
Smart business leaders compete by constantly seeking cost advantages. Yet law firm leaders compete by perpetually increasing associate compensation. As always, this will not end well.
Lawyer Well-Being at Work: It’s a Two-Way Street
By John F. Hollway
It’s Not the Number of Hours We’re Billing or the Number of Hours We’re Working; It’s the Way We Feel About How We Spend Those Hours That Matters
Working long hours, tracking those hours and feeling that we have to grind all year to hit a specific number of hours to meet a profitability target can make us feel like fungible, dehumanized automatons rather than highly trained providers of specific and thoughtful solutions to complex legal challenges.
New Partners Are Worried About Mental Health and a Looming Recession, Annual Survey Finds
By Dylan Jackson
Newly minted partners offered up some usual complaints on this year’s New Partners Survey, lamenting unexpectedly low compensation, opaque performance metrics and copious administrative work. But new anxieties have arisen among Big Law’s latest partner class, including the threat of a recession and growing concerns about mental health.
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