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A recovery from an aberrational 2020 and the delay in returning to the office created an unusual set of factors behind the extraordinary performance seen by the law firm industry in 2021. Strong demand growth led to a war for talent, but it was also a major driver of the industry average double-digit revenue growth seen in 2021. And while the war for talent drove pressure on compensation expenses, the delay in returning to the office helped stem the anticipated spike in operating expenses, resulting in lower than expected total expense growth. As a result, revenue growth far outpaced expense increases, leading to one of the strongest years on record for profit growth for all segments of the market.
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Are We Over Thinking Office Return Strategies?
By Anthony Davies
Routines based around ‘work from home’ are calcifying, and commuting, parking, sandwich shops and childcare are fading into distant memory. With each passing week, the challenge to win attorneys back into the office increases.
Solving the Information Governance Groundhog Day Syndrome
By Ben Schmidt and Nathan Curtis
Security and privacy start with good information governance, and for many firms — trying to get their information governance policy implemented feels a lot like Groundhog Day. Yes, the one with Bill Murray. Let’s take a closer look.
By Melissa “Rogo” Rogozinski
Whatever term the economists use to describe the slowing pace of commerce, the real question is: how do you protect your law firm’s revenue stream when economic pressures are causing current and prospective clients to tighten their budgets?
Using Emotional Quotient to Help Lawyers Optimize Leadership and Business Development Potential
By Sheryl Odentz
The role of emotional intelligence, also known as EQ, Emotional Quotient, is critical to the success of lawyers who are leaders in their firms. EQ can be defined as skills people use to manage their own emotions wisely, to maximize their chances of influencing others constructively, and achieve their goals. Having high emotional intelligence helps professionals build stronger relationships, reduce stress, defuse conflict, and improve job satisfaction.
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