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There is nothing worse than meeting with your client and discovering to your surprise they are having discussions, good or bad, with other members of your firm. Such dissonance within the firm can undermine the trust of your clients and compromise your business development and client retention efforts. From a client perspective, these missteps tarnish their experience with your firm. From the firm perspective, instead of working to expand business with these clients, you must now fight to repair the relationship. In today’s time-constrained law firm, however, it is often difficult to track such client engagements, let alone manage or understand them. Fortunately, advances in client relationship management (CRM) software can help connect lawyers across the firm, allowing them to compete as one firm and build on the successful results they have already delivered for clients.
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Retirement Succession Can Hedge Against Lateral Partner Acquisition Risks
By David Wood
While growing by acquiring lateral partners and practice groups can be lucrative, it carries many risks. Lateral candidates’ projections of the revenue they will bring to a new firm can prove inaccurate, or a particular candidate may simply be a bad fit culturally.
The Impact of Gen X and Millennial Law Firm Leaders
By Marci Taylor
Generation X lawyers stand poised to wield considerable influence. Often the unsung heroes in discussions about generational dynamics, Gen X professionals bring a wealth of strengths to law firm leadership. Their pragmatic outlook, honed by navigating shifts in technology and societal changes, positions them as adaptable leaders.
It’s Time for Lawyers to Return to the Office 5 Days a Week
By J. Mark Santiago
It’s time for attorneys to return to the office on a five day a week schedule. There is significant evidence that shows remote learning is not as effective as in-person instruction.
Law Firms Eager to Increase Nonequity Tiers
By Andrew Maloney
Last year saw a ”staggering” jump in the number of law firm leaders who said they wanted to increase their nonequity tier going forward. Now it’s clear many of the biggest Big Law players are following through, with several Am Law 100 firms growing their income partner ranks by double-digit percentages in 2023.