By Mike O’Brien bio Department of Labor enters final stage of update to ‘regular rate’ rule under FLSA. As we have discussed previously in these updates, the Department of Labor has been working to update the definition of “regular rate” of pay under the Fair Labor Standards Act. The regular rate is used to calculate overtime pay. The rule has not been updated in half a … [Read more...] about Pay rates, vacations while recovering, gig economy
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How the “broken windows” theory applies to your law business
By Liz Miller bio The “broken windows” theory is that a building with broken windows is evidence of abandonment, neglect of the property and a lack of respect for the law. In its simplest form, the “broken windows” is the beginning of the decline of a neighborhood which begins to deteriorate. It starts with “broken windows” and then leads to graffiti, trash, abandoned vehicle, … [Read more...] about How the “broken windows” theory applies to your law business
Can any bookkeeper be a “law firm” bookkeeper?
By Elizabeth M. Miller bio I have no doubt you are scratching your head right now thinking, "what kind of question is that"? Indeed. What kind of question is that—one to which the short answer is NO. Bookkeeping, which in a law firm includes client billing, management of trust funds, and updating ledgers, is not something that can be done by "any" bookkeeper. If you want … [Read more...] about Can any bookkeeper be a “law firm” bookkeeper?
How to set a plan for associate development that actually works
One area no firm can afford to ignore is associate business development. The firm's future depends on how well the younger attorneys are developed and cultivated. This is the next generation of the firm. They have to learn how to generate business or the firm isn't going to survive. Here are four elements for an effective business development program for associates: 1 … [Read more...] about How to set a plan for associate development that actually works
How to delegate better
Boost staff performance by communicating more clearly Not pleased with what staff are doing? It may not be their fault. Look at the directions they are getting—from the manager. Whenever a staffer who is capable of doing a job doesn't get that job right, chances are it's because the manager didn't explain what needed to be done. A manager should assign projects via a written … [Read more...] about How to delegate better
The importance of recognizing your employees’ hard work
Happy Administrative Professionals Week! What have you got planned to acknowledge your hard-working support staff? If you've decided to do nothing this year, you may want to rethink that. According to a survey conducted by staffing firm OfficeTeam, two-thirds (66 percent) of workers surveyed said they'd likely leave their job if they didn't feel appreciated. In contrast, just … [Read more...] about The importance of recognizing your employees’ hard work
4 bad financial habits that may increase your policy premiums and your malpractice risk
Ineffective billing and collections practices affect more than the bottom line. They ultimately may determine what the firm has to pay for malpractice coverage. To an underwriter, poor financial habits are just like poor legal habits—they spell high risk for malpractice claims, says Dan Knise, president and CEO of Ames & Gough, a McClean, VA, specialty insurance broker. If … [Read more...] about 4 bad financial habits that may increase your policy premiums and your malpractice risk
3-point retention strategy
By Julie Ellison bio Great law offices are built with great people. In today's competitive employment market, it's hard enough to recruit those great people, but the real challenge is getting them to stay. Traditional retention strategies haven't worked so it's time to take a fresh look at how to keep the best people you have. Benefits vs. retention We often confuse … [Read more...] about 3-point retention strategy
How to pay the partners
Is your compensation system driving away the talent you need to grow? What approach did your firm take when establishing its partner compensation plan? It's likely you chose one of the three traditional systems. There's the old "eat what you kill" method, which is based on individual performance; the seniority/lockstep system, which is determined by the partner's role in the … [Read more...] about How to pay the partners
Step by step guide to successful lateral hiring
Attracting a lateral hire requires more than sending out a request for resumes. To find the candidate it wants, the firm has to decide on the specific qualifications it is looking for. But more, it has to set a time limit for resume submissions, keep the candidates updated throughout the process, and make an offer the top candidate can't refuse. Here's exactly what we … [Read more...] about Step by step guide to successful lateral hiring