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While many of us have lived through crises and economic downturns before, I think we can agree that COVID-19 presents unique challenges we haven’t faced before. Widespread social isolation and working from home has become the new norm — and probably will be the status quo for some time.
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By David Thomas
After a 5% increase in gross revenue and 3% growth in revenue per lawyer, the Am Law 100 were in a good place at the start of 2020. Then a global pandemic started. Now what?
By Dylan Jackson
For some firms in the Great Recession, reduced revenues combined with the overwhelming pressure from multimillion-dollar pension liabilities — a holdover from the days when pensions were simply a promise firms made to retiring partners — were too much to bear. But with the Great Recession now a decade in the past and another recession brewing, has the industry learned from its mistakes?
By Hugh A. Simons
Compensation systems are typically a strategic afterthought, seen as the means by which to allocate the spoils of a successful strategy. They’re viewed as affecting the level of grousing among partners, but not a firm’s performance. The data, however, indicates the reverse is true.
By Patrick Smith
Firms Are Applying Communications Lessons from the Great Recession As They Deliver Bad News During the Coronavirus Pandemic.
As firms echo their response to the COVID-19 crisis, they are also showing they learned from the experiences of a decade ago, including the negative effects of delivering cuts unevenly, clumsily or with unnecessary secrecy.