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The preliminary results for how law firms performed in 2021 are beginning to trickle out. Despite COVID lockdowns and on-again off-again return to the office efforts, American law firms are reporting record utilization and profits. At least six of the AmLaw 100 firms will report profits-per-equity-partner (PPEP) of $5mm or more, exceeding last year’s record number of five firms, and not all firms have reported their final results.
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New Approaches to Outsourced Labor
By Ben Schmidt
Employees are the lifeblood of an organization. Companies, including law firms, are rightfully attempting to navigate what the past two years have meant to the labor force and make sense of the changes to the landscape so that they can successfully manage their businesses. Included in this mix are outsourcing service providers.
The Biden Administration’s 2023 Budget: Déjà Vu All Over Again
By Lawrence L. Bell
The Treasury’s Greenbook commenting and explaining budget recommendations for FY 2023 raises warnings of tax increases. But what are the odds Congress passes anything before the midterm elections this November? This article presents a summary of the proposed tax increases and the likelihood of these provisions being enacted into law.
Law Firms Reviewing Contracts to Battle Inflation
By Phillip Bantz and Trudy Knuckles
As inflation worsens, legal chiefs and their in-house teams are stepping up and finding ways to help their companies tamp down a vast array of price hike fires. And a significant part of that work is reviewing contracts with service providers, clients and other business partners.
The Culture Code for Law Firms
By Marci Taylor
Many firms have made a valiant attempt to maintain firm culture in the brave new world in which we find ourselves. Culture is not something that is pre-destined or accidental. Rather, it is something that exists and evolves in organizations where particular skill sets are present and cultivated.
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