Is your firm having difficulty attracting and retaining great employees? Maybe it's time to employ some inventive HR strategies. According to a new report ("Predictions for 2016: A Bold New World of Talent, Learning, Leadership and HR Technology Ahead") from Bersin by Deloitte, Deloitte Consulting LLP, in 2016, organizations will be challenged to design a more engaging and … [Read more...] about HR Predictions for 2016: Prepare to harness technology, analytics, and diversity and inclusion
Increasing profits
Model Client Satisfaction Survey
Why you need this model survey: Clients demand value and, in this competitive market, you need to find out if you are meeting your clients' needs and giving value for the fees you receive. A client survey is a relatively easy way to get this information. How this model survey helps you: The insight that these surveys provide is priceless and can be used to enhance client … [Read more...] about Model Client Satisfaction Survey
How to raise fees in January without upsetting or alienating clients
The wrong way to up the fees is to think of a rate hike as a means of offsetting costs. Most firms do just that. The attorneys think "well, our salaries are increasing, so we have to recapture that." So the rates go up a percentage across the board. To get the most revenue out of a rate hike takes understanding the many and varied options available to the firm. It also takes … [Read more...] about How to raise fees in January without upsetting or alienating clients
The 5 disasters that run law firms into the ground
Can your firm profit in the current economy? Or more worrisome: can it survive? The answer depends on how the firm is managed, advises one expert. And to a great extent it's the intangible elements of management that tell the tale. Law firms are living in a new world, says William F. Brennan, CPA, CMA, a principal with the legal management consulting firm Altman Weil in … [Read more...] about The 5 disasters that run law firms into the ground
How to survive the coming competition
By Ron Friedmann bio Many in the legal market talk about a "New Normal" where margin pressure is the norm. Is this true, and does it matter? Yes, and here's why. Clients Want Value. Although BigLaw continues to prosper, it faces new competition. Clients want value and they now have market power, so they buy from alternatives to large firms. Clients Bring Work … [Read more...] about How to survive the coming competition
How document automation can save you thousands
Does your firm use document automation tools? If not, you’re not alone. According to a survey conducted in 2013 by the International Legal Technology Association, a whopping 62% of law firms surveyed reported not using a document automation system. But when you think about how much time your team spends assembling variations of the same documents every day, automating the … [Read more...] about How document automation can save you thousands
Chicago firm discovers in-person interviews can sharply increase client service and satisfaction
A Chicago law firm goes the extra mile to ensure client satisfaction, sometimes even getting on a plane to do so. Like many firms, 37-attorney firm sends out client satisfaction surveys. But unlike most firms, it gets the responses via in-person interviews held at the clients' places of business. The visits are limited to the largest revenue-producing clients, says the … [Read more...] about Chicago firm discovers in-person interviews can sharply increase client service and satisfaction
The link between technology and your firm’s continued success
Technological innovations and the movement toward specialization are two of the key drivers of change in the legal field today, according to Future Law Office 2020: Redefining the Practice of Law, a new report from legal staffing and consulting solutions firm Robert Half Legal. Three in 10 (34 percent) lawyers surveyed for the annual research project said emerging … [Read more...] about The link between technology and your firm’s continued success
How to improve the value of your practice
"Value Drivers are factors that affect the actual and perceived value of a practice," says valuation expert Ronald L. Seigneur, MBA CPA of Seigneur Gustafson LLP, based in Lakewood, CO. "Potential investors, whether internal or external, look for performance in the two areas—universal value drivers and industry-specific value drivers." Universal value drivers include: … [Read more...] about How to improve the value of your practice
Six ways your firm’s information may be gridlocked
In today's new world of work, organizations rarely lack information. Unfortunately, according to research from Ricoh and IDC, what today's organizations do lack is quick access to their information, which is usually gridlocked and unavailable. Ricoh USA and IDC conducted Web-based interviews of nearly 300 companies in the United States and found six ways that corporate … [Read more...] about Six ways your firm’s information may be gridlocked