Alternative-fee arrangements help establish a link between outside counsel costs and the value provided.. Yet, adoption of AFAs remains sluggish — even as outrage over outside counsel hourly rate increases grows.
December 01, 2023Hugo Guzman
Although the inflation rate is down, law firms are still fighting "across-the-board" cost increases, including for talent and technology, as well as overhead costs for occupancy. Those costs are expected to have an outsize influence on law firm operations going into 2024.
December 01, 2023Andrew MaloneyHoteling has a negative connotation in the legal industry as little has been done to make the experience reliable and something to look forward to. The fact is, hoteling has worked very well in other industries for many years, and lessons learned here can help law firms.
November 01, 2023Anthony DaviesEmbracing flexibility can provide law firms with a range of competitive advantages, from attracting and retaining top talent to fostering diversity and expanding their client bases. This article delves into the numerous benefits of flexible law practices and explore how those practices could contribute to the growth and success of modern law firms.
November 01, 2023Teresa BultThis article is about putting more money into the distributable income line on your monthly financial report; how to rethink and profit from your annual budget-planning cycle, which should be underway now and not postponed for January after the "year-end" collection silly season.
November 01, 2023J. Mark SantiagoEmbracing flexibility can provide law firms with a range of competitive advantages, from attracting and retaining top talent to fostering diversity and expanding their client bases.
November 01, 2023Teresa BultIn most law firms, there are walls that can prevent all of us from being both seen and heard by all within an organization. However, these obstacles can be overcome in most settings, despite the different factors that may keep employees, supervisors and team members from prevailing over them.
November 01, 2023Jennifer S. BankstonWithout recognition for their varied contributions, young lawyers are likely to feel more disenchanted or disinterested in career longevity or leadership duties at a law firm.
November 01, 2023Jessie YountWith the end of the year in focus, most law firms may well finish in line with their budget plans. But analysts and observers also described the end-of-year profitability picture in Big Law as "tepid," "flat-ish" and "volatile," with 2024 promising plenty of uncertainty as well.
November 01, 2023Andrew MaloneyThe overarching finding of Thomson Reuters Institute's "2023 Legal Department Operations Index" is that workloads are increasing but budgets aren't. The phrase "do more with less" appears three times in the report and similar sentiments appear on nearly every page of the its 25 pages.
November 01, 2023Trudy Knockless
