Profit doesn't happen without a prod. Particularly in a tight financial environment, a firm has to know where its money is coming in and going out. It also "has to be nimble and on top of what's going on," because the supply, the demand, and the acceptable price of legal work is constantly changing, says Bob Henderson, of RJH Consulting, a business consulting group for small … [Read more...] about To see better profits, look harder at where money starts and ends
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How to investigate an employment-related complaint from a staffer
Got a complaint from an employee? Investigate it. If that complaint turns into a legal claim, part of the allegation of wrongdoing may well be that the office "didn't take it seriously and failed to investigate," says employment law attorney Ingrid Culp of Fredrikson & Byron in Minneapolis. The law doesn't require that an employer investigate a claim, she says. But it is … [Read more...] about How to investigate an employment-related complaint from a staffer
“What’s it really like around here?”
By Lynne Curry bio You feel it the moment you enter the organization. Ask the employees "What's it like around here?" and they confirm the vibe. An employee in one organization says, "I love working here. Everyone helps each other out." At another you're told, "You've got to watch your back; it's cutthroat here. And you can't trust the managers." Every organization … [Read more...] about “What’s it really like around here?”
6 proven strategies to make the most of revenues to build profits
Improving the billing turnaround time, increasing the number of attorneys, cutting the expenses: All help the bottom line, but there are higher level issues that require as much or more of the financial attention. The firm's success calls for going past counting the money to evaluating the data, optimising the profit margin, keeping the billing rates up, and getting rid of … [Read more...] about 6 proven strategies to make the most of revenues to build profits
Wish you’d never said that? Here’s how to save the day and perhaps your job
When you're working in a high-stress environment, it's not uncommon for tempers to flare and words said that shouldn't be. It's unfortunate and, often, unprofessional. And it needs to be corrected as soon as possible. If you've directed an outburst at the boss or made a hurtful remark to your staff, damage control is in order. Mostly, that means an apology—either for what … [Read more...] about Wish you’d never said that? Here’s how to save the day and perhaps your job
Paying too much office rent? Try these 7 rent-cutters
Can the partners live with less space? After payroll, office space is the firm's second highest expense, in most cases eating up from 7% to 10% of the revenues. With the bite that big, every office needs to look for ways to cut the office cost. Here are some good ways to do just that. And along with them are some lease negotiation factors the firm can use. 1 The same … [Read more...] about Paying too much office rent? Try these 7 rent-cutters
3 onboarding mistakes that put retention at risk
By Dina Eisenberg bio This is a tight market for legal professionals. The demand for paralegals is expected to rise 8% by 2022. If you've found the paralegal, legal assistant, or other legal professional that you want to add to your team, it makes perfect sense to create a remarkable, meaningful onboarding experience so you can retain your great find. Today's legal … [Read more...] about 3 onboarding mistakes that put retention at risk
How to hire stellar staff for your law office
Law offices are busy places, with everyone running around at top speed trying to complete a multitude of tasks. But if hiring law office employees is one of your tasks and you don't take the time to do so properly, you are doing your firm a disservice, according to Diane Camacho, founder of DLC Consulting Services, LLC, in San Francisco. Before sending out enquiries and … [Read more...] about How to hire stellar staff for your law office
Partner retirement: how to keep the clients and assign the business
When a partner retires, the top business concern is if and how the firm can keep the clients. And there's more than one reason to be concerned, says August J. Aquila, of Aquila Global Advisors, a Minnetonka, MN, consulting firm specializing in succession planning, mergers, acquisitions, and strategic planning for professional firms. Obviously, the firm wants to keep the … [Read more...] about Partner retirement: how to keep the clients and assign the business
Some FMLA questions on using vacation time and counting to 50
Here are three questions on the Family and Medical Leave Act. They are answered by Morganville, NJ, management consultant John McNamara. Briefly, the FMLA requires that employers with 50 or more employees allow up to 12 weeks' unpaid, jobprotected leave for medical and family reasons. FMLA time on top of vacation time A staffer returns from a two-week vacation and asks … [Read more...] about Some FMLA questions on using vacation time and counting to 50