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In recent years, as client fee pressure has increased and client loyalty has decreased, law firms are investing significant time and money in business development programs ... in an often-futile attempt to turn everyone into a capable rainmaker.
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The cloud is everywhere, raining down apps and digital services on companies. The potential benefits are clear: more storage and portability of company information and customer data, as well as time and cost savings for management and employees.
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Even though lawyer management in most mid-size firms recognize the importance of developing and implementing principles of practice management as a means to insure the high quality service to clients and to improve profitability, the extent to which practice management may be implemented varies greatly from firm to firm.
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A number of scholars have studied relationship development and the science/psychology around building relationships. This article looks at a perspective on four stages of relationship-building, and provides some insight into each.
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Leadership. It's an accidental career. Yet, too many leaders are leaving their leadership to chance. They have not sought out the skills to lead intentionally and confidently.
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Last month, in Part One of this article, we explained that two judges sitting in the District Court in the Northern District of California had issued decisions with respect to unfinished business claims. The rulings on all these cases (one of which was updated after press time) favored the law firm defendants. We continue this discussion herein.
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For employers, social media sites present a potential treasure trove of information on applicants, but mining this information for use in recruiting, hiring, firing and monitoring of employees is fraught with risk. Nonetheless, some studies show that 40% of employers search social media during the hiring process. While there are not currently any laws in the United States forbidding employers from gleaning information from social media, improper use can get them into trouble.
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In 2013, 13.1 million people were victims of some sort of identity theft. Often, you may think of identity theft as being confined to credit card or ATM fraud, yet there is an epidemic of fraudulent electronically filed tax returns. Identity-related tax fraud is the third-largest theft of federal funds after Medicare/Medicaid and unemployment insurance fraud.
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Fully focused women rainmakers assess what needs to be done, and then set about doing it. Instead of "breaking a glass ceiling," they build a new facility with a new ceiling. For them, "no" is not an option and fear is left in the dust.
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Research indicates that a lateral partner's team may contribute more to the success of the rainmaker's move to a new firm than most realize. A surprising turn of events recently brought the issue into view.