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When a Pension is addressing its liabilities and assets, it is important that it present a simple, straightforward way to fund for the future for its participants in a meaningful and effective manner. The volatility of the markets since 2007 has increased demands on the Pensions, as an uneasy balance of influences and the Pension Protection Act of 2006 have required increasing funding levels to meet mandated levels.
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At long last, marketing and communications can take center stage and become the key indicator by which law firms can measure their success ratio.
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Apprenticeships for new lawyers sound promising and the firms that are implementing them should be commended. However, under the current system of legal education and private practice, this model may not be realistic for most law firms.
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Before firms can address the changes they need to make in their management and leadership, they must identify and understand the trends and issues that have developed, and the challenges they are creating. The list is extensive.
THE RED ZONE PLAY OF THE WEEK - 6 Touchdowns in the Snow Scoring 6 touchdowns in the snow is a truly special accomplishment, even for the New England Patriots. They anticipate the positives and the obstacles to accomplishing their goals. So too must business development consultants insure that their attorney marketing training includes a heavy dose of understanding the in-house counsel selection process. Just like a football player learns where the oppornents' strengths are located, so…
How to Avoid Destroying Your Firm's Future By Arbitrary Expense Cutting and Obsolete Planning Techniques There is a wonderful old Russian folk tale about the family in a sled being chased by ferocious wolves. To slow down the wolves, thinking to protect the remaining family members, they threw children overboard. That story comes to mind as we watch law firms, chased by the wolves of a depressing economy, decimate their firms by furloughing or firing staff, deferring'
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A bunch of loose nails can be pounded with a shoe or a rock, but why not buy a hammer so you have the right tool for the job? Similarly, a load of transcripts can be tagged with sticky flags and painstakingly summarized on a yellow legal pad, but why not use software to help you comprehensively manage and annotate them? TextMap 5 from LexisNexis (formerly CaseSoft) is the right tool for the job.
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Our marketplace is changing at a breakneck pace and on many fronts. Our firms are changing as well, from how we charge clients to how we compensate attorneys. A new kind of approach is required for effective management and leadership.
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In one of its more insidious forms, recommendation marketing can involve a marketer paying Internet users to post disingenuous positive product reviews at online retailers' sites, also called astroturfing, in which advertisers or their agents pretend to be unaffiliated consumers, and spread misleading or false information to advance the advertiser's objectives.
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In the midst of the current recession-induced pummeling of law firms and in-house legal departments, some positive changes are occurring that are setting the stage for a stronger industry. One is the quantity and quality of law firm mergers that are being consummated.
