Turnover should be at the top of every manager's worry list. Employers don't realize how expensive it is, says Jennifer Loftus, national director of Astron Solutions, a human resource and compensation consulting firm in New York City. "They think it's just a matter of being behind the eight ball for a couple of weeks." But it's far more. Even on the conservative side, the … [Read more...] about Five reasons why staff hate their jobs and look for greener pastures
Don’t give discounts to clients without first calculating cost
Discounts are dangerous things. Some firms give them out willingly in exchange for a guaranteed volume of business. Others wind up having to take them for lack of client planning. You need to understand the dollar cost of every discount. Calculate how the firm will fare with the business and without it and know how much discount the firm can accept. Even better, keep control on … [Read more...] about Don’t give discounts to clients without first calculating cost
Make payment and collection policies work together to boost cash
Revenue problems? The best way to solve them is to prevent the collection problems. And the best way to prevent the collection problems is to put in a payment policy and enforce it from the first day. Along with that policy, weed out the poor-pay risks. More still, follow the little tactics that can spell the difference between payment and non-payment. Ignore the collection … [Read more...] about Make payment and collection policies work together to boost cash
Louisiana firm bases attorney bonuses on amount collected
A Louisiana firm set up an attorney bonus program that rewards not the amount billed but the amount collected. It is attorney-specific, which means the good performers get rewarded accordingly. And the payouts are given every quarter. The program rewards the quality producers, the attorneys who not only put numbers on the books but whose efforts and billable hours … [Read more...] about Louisiana firm bases attorney bonuses on amount collected
8 quick ways to improve communication with your staff
Only a great communicator can be a great manager. Here are eight rules for communicating well with staff. 1 Give reasons Always give complete information on decisions that affect staff. If there's no reason given for some new requirement, don't expect people to get behind it and support it. They start second guessing the why of it, and that second guess is apt to be negative. … [Read more...] about 8 quick ways to improve communication with your staff
5 partnership points that cause more than the usual headaches
It's the partnership wonder. Many, many firms, from the smallest to the most sophisticated and well known, don't have partnerships agreements. Without an agreement, every facet of the practice is a potential battleground, says Arthur J. Ciampi of Ciampi LLC, a Manhattan company that represents law firms in partnership disputes. Ciampi is also coauthor of a book entitled Law … [Read more...] about 5 partnership points that cause more than the usual headaches
12 signs you are about to lose your job
Call it denial. Call it turning a blind eye to what’s going on. But even the most business-savvy administrator can fail to see when the job is in jeopardy. People think it will happen to everyone else but not to themselves. Administrators might be observing negative goings-on in their offices without cluing in that their jobs are on the line. The only way to stay safe is to … [Read more...] about 12 signs you are about to lose your job
What you can do to help resolve partner conflict
It's no secret that fighting among partners is a major cause of firm breakups. Not so well known, however, is how to resolve the conflict. When two individual partners or even two groups of partners are at odds with one another, the firm needs a middle person. That person can be the managing partner or a professional mediator. The middle person can broach the issue and bring … [Read more...] about What you can do to help resolve partner conflict
Five personalities to weed out when hiring for staff positions
Just as important as being able to do the work and being willing to do the work is having a personality that fits the job. Five traits can spell disaster in law firm staffing. Those five traits can cause severe friction within the staff. They can stymie the work. And they can undermine the administrator. Here's a definition of each plus the detection questions to ask and the … [Read more...] about Five personalities to weed out when hiring for staff positions
NJ firm finds an easy way to reduce last-minute sick calls
Experience is often a manager's best education. Such is the case for the long-time manager of a practice in New Jersey, who has found that the best way to prevent the last minute sick calls is to allow staff to carry their sick days over to the next year. But instead of transferring as sick days, the time becomes personal days to use however they want. As in any office the … [Read more...] about NJ firm finds an easy way to reduce last-minute sick calls