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An ongoing trend of the 21st century is the increased reliance on “Data Analytics” in making business decisions.
By J. Mark Santiago
Pay for performance is not a new concept in this country. The ideas and concepts underlying a graduated pay scale based on contribution and merit are deeply ingrained in our society. However, in general law firms have been slower to adopt pay for performance systems. What law firms need now, and this article describes, is an approach to partner compensation that closely links a partners pay to their ability to contribute to the achievement of the firm’s strategic objectives.
By Eric Dewey
For a large portion of engagements, discounts are not necessary to win the work. In fact, discounts come at a price. Both parties assume a degree of risk when margins are thinned. This article presents several techniques that you can use to re-direct discussions away from discounts and help to minimize their financial impact.
By Dylan Jackson
In a survey conducted by Major, Lindsey & Africa, lateral partners put firm culture and practice support ahead of anticipated compensation when considering a new firm.
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.