• Lack of Gender-Diverse Partnership: Is It the Woman or the Firm?

    December 01, 2017 |

    Data-Driven Research by ALM Intelligence Suggests Three Reasons Why Gender-Diverse Partnership Fails

    It is now common knowledge that female headcount within the ranks of Big Law partnership, both equity and non-equity, has held steady for the past few years at around 20%. The obvious question is, why?

  • Can Millennials Save Your Law Firm?

    December 01, 2017 |

    After Years of Complacency About Their Business Model and the Pipeline for Talent, There's a Reason Law Firms Are So Worried About Managing the Millennial Generation

    For law firms wringing their hands about how to manage the millennial generation — or asking why they should adapt to this crop of young lawyers in the first place — here's the bad news: If you're still clinging to traditional models for training associates and running the partnership, you've already fallen behind. The millennials are here, they're climbing the ranks, and they've already begun to transform the industry.

  • Getting 'Gig'gy with It: The New 'Gig Economy'

    December 01, 2017 |

    For the most part, law firms continue to structure themselves in a traditional operating and employment models with a dedicated workforce of talent arranged in an organizational hierarchy. In today's Gig Economy, this will unlikely hold.

  • Read This Before You Set Your 2018 Billing Rates

    December 01, 2017 |

    Failure to increase senior billing rates differentially, and thus to rebalance the source of margin from junior to senior lawyer time, will result in a calamitous decline in profitability. It can be avoided if firms start now to gradually change their billing rate structures.

  • Security First Approach Provides a Significant Advantage to Law Firms

    December 01, 2017 |

    Security first is a holistic approach that views security not as an information technology nuisance in need of tight cost-management controls, but as a competitive advantage to differentiation from traditional business offerings. Here's what you need to know.

  • What Do Practice Group Leaders Really Do?

    November 02, 2017 |

    Part Two of a Two-Part Article

    Last month, the author discussed the fact that even though managing partners recognize the importance of developing and implementing sound principles of practice management, the extent to which the concept is successfully implemented varies greatly from firm to firm. He concludes his discussion herein.

  • Laterals: When Is the Best Time to Make a Move?

    November 02, 2017 |

    If you are a partner considering a lateral move, then you are probably focused on the boost a new firm could offer your practice, and on cultural fit. However, the authors' review of the 2,353 partners who moved between Am Law 100 firms in 2010 through 2012 suggests that some more prosaic factors matter too.

  • Cyber Disaster Recovery

    November 02, 2017 |

    How to Take a Law Firm Beyond Insurance

    With expectations for an always-on law firm, significant challenges within the legal industry to maintain competitiveness and perform due practice for cybersecurity and other disaster scenarios come from both clients and regulatory bodies.

  • The State of Lawyer Well-Being Is Not Strong

    November 01, 2017 |

    A 2016 study found that between 21% and 36% of lawyers fall into the category of "problem drinkers." As for other mental illnesses common to the profession, 28% reported struggling with depression, 19% with anxiety, and 23% with stress. What can be done?

  • What Do Practice Group Leaders Really Do?

    October 02, 2017 |

    Part One of a Two-Part Article

    Managing partners and members of executive committees in the most successful law firms strongly support the concept of having Practice Group Leaders (PGLs) assume a major role in their firms' efforts. Here's why.