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Law firms commonly rely on contract attorneys to assist with a large project for a single matter or collective overflow from multiple matters. While using contract attorneys to address staffing needs is common and routine, it is not a risk-free arrangement. Here are some tips to help law firms minimize potential risks when working with contract attorneys.
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Organizations understand that their workplace environment reflects the culture of their organization and are making extraordinary changes to their real estate and fundamental differences in their office operations. But is it working?
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CRM is foundational to the success of marketing and business development teams because it is precisely the tool that allows the firm to efficiently manage and nurture client and prospect relationships.
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Recent research based on interviews with chief legal officers around the globe found that the increased scope and scale of risk now facing corporations is driving change in how legal teams set their strategies, leverage technology and manage operations.
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Generative AI, combined with client education, could signal the slow death knell of the billable hour.
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No matter the approach, firms appear to have a common goal in mind when widening the ratio in pay for the highest and lowest-paid partners in order to better recruit and retain high performers.
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The business landscape over the last few years has been changing at an ever-increasing speed, and 2024 promises to be no different. To effectively navigate the challenges and opportunities that present themselves, leaders need to adopt a fresh approach to strategic planning.
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Business development is, first and foremost, about people and your relationships with these people. While marketing and visibility activities (speaking, writing, etc.) are critical, it's the people who ultimately make the hiring decisions. As a lawyer, while time is rarely on your side, developing your Nurture System will help you strengthen and deepen your important relationships in ways that are sustainable and effective.
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Like a threaded coupling or an electrical converter that allows non-matching mechanical or electrical components to be joined seamlessly together, legal finance can be the "adapter" that brings together lawyers with compatible talents but different economic outlooks and comfort levels.
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Hoteling 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.