The results of a new report — Implementing Financial Intelligence to Give Law Firms a Competitive Advantage in 2022 and Beyond — revealed a striking shift in the role of law firm finance leaders, both in their value and impact. Many are using data to drive change in their organizations, amplifying the power of profitability, and leveraging their skill to fuel innovation. Ultimately, they are helping their firms gain a competitive advantage.
The Infrastructure Investment and Jobs Act, signed by the President on Nov. 15, 2021, presents a number of issues for advisers, planners and taxpayers to consider.
By keeping these communication tips in mind, firm leaders can ensure that their most important stakeholders understand the significance of their expansion and why it is a win-win for the firm, its people and its clients.
After years of clients working to trim their roster of firms to a trusted group that understands the specific challenges of their businesses, rate hikes are threatening to upset these delicate relationships.
After many firms experienced a highly profitable 2020 and sky-high demand levels in 2021, they found themselves with more cash than usual. While more than enough Big Law money has been lavished on associates and laterals recently, those aren't the only ways firms are spending their riches.
Some tried and true leadership practices for firms and partners who are focused on retaining and developing top talent in the current context.
As the healthcare industry is emerging from the pandemic they are looking for ways to reward, retain and recruit a very important segment of its people — Registered Nurses. Employers are looking for ways to provide benefits in an economically efficient fashion that does not create an immediate and punitive tax on the participant.
This article proposes language to include in retainer agreements to enable the monetization of non-monetary victories and compensate attorneys for all their work on behalf of their contingency clients.
By now, it is well known that this year has been defined, at least in part, by the furious pace at which lawyers have been working. At what point do high billable hours mean diminishing returns for both the lawyer and the firm?
While analysts predict firms will still see savings from expense cuts in 2021, these savings won't be as dramatic as in 2020 and, moreover, recommend that firms should use profit gains to invest in long-term strategies for growth — like technology.
