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Job market for 2021 law grads one of the strongest ever

The job market for the 2021 law school grades was one of the strongest on record. The National Association for Law Placement, Inc. (NALP) has released its Employment for the Class of 2021 — Selected Findings, a synopsis of key findings from the upcoming annual Jobs & JDs: Employment and Salaries of New Law School Graduates. The release of the full Jobs & JDs report is anticipated in October 2022. This year’s selected findings, available at www.nalp.org/classof2021, show that the employment outcomes for the Class of 2021 were some of the strongest that NALP has ever recorded, as the U.S. economy recovered from the COVID-19 related disruptions that impacted the Class of 2020. “Driven by extraordinary demand for talent at the largest law firms, a healthy private practice market propelled… . . . read more

MORE PROFIT

The art of delegating to increase firm revenues

By Elizabeth Miller Law firms are unique in that unlike most other businesses which sell a product, lawyers sell time. Their time is, for a better description, “their stock in trade”. Based on this concept, to be profitable and generate sufficient revenues to carry the firm, lawyers should be spending their valuable time doing client billable work. The exception to this are contingency cases and hybrid cases which consist of a part contingency/part billable hour retainer agreement. Contingency cases, however, have to be profitable for a law firm also. With this in mind, the key to profitability and work product efficiency in a law firm is to assign legal tasks to the lowest paid but most qualified person to complete a task. When partners spend their time doing work that… . . . read more

INCREASING PROFITS

12 MORE marketing secrets of superstar lawyers

By Trey Ryder #13: They provide client service beyond compare. They return phone calls quickly. They work day and night to finish projects. They have backup plans for their backup plans. They err on the side of caution. They hire a bright, responsive support staff. And they always go the extra mile. Whatever it takes, they get the job done. And the superstar’s staff is equally committed to bring the client the best result on time, on budget. #14: They make sure everybody knows they welcome new business. One obstacle successful lawyers face is that other lawyers think they don’t want new clients. As a result, they quit referring cases. When prospecting for new clients, superstar lawyers know it is far better to receive too many inquiries than too few. They make… . . . read more

HIRING

Jobs in law top pre-Great Recession numbers

The U.S. legal services sector now has more total jobs than it had when the count hit its previous high point in 2007 shortly before the Great Recession, according to U.S. Labor Department data as reported by Reuters. The legal sector added 3,000 jobs in June, reaching a total of 1,185,600, the preliminary seasonally adjusted Bureau of Labor Statistics data showed. This exceeds the historic high of 1,179,500 jobs the sector reached in May 2007, according to BLS data. The legal services job count includes lawyers, paralegals and other legal professionals. BLS legal sector jobs data is available stretching back to 1990. Newly revised data for May 2022 also shows the sector cracked its previous 2007 record that month, with a total of 1,182,600 legal sector jobs. The May 2022… . . . read more

TOOL

Love contracts: Help for hot messes

They arrive at work separately. They never touch each other in your presence. Then, as you chair a meeting, you see his gray eyes seek hers out across the conference table. She returns his gaze; her eyes linger. Suddenly you know. The senior manager, despite all the sexual harassment seminars he’s attended, appears romantically intertwined with an accounting clerk. If you’re in charge, how do you handle this hot mess?  The reality Some managers and supervisors would never have an affair with an employee they oversee or an employee in their company. Others consider the workplace a dating pond in which they fish. Still others fall into a relationship that makes them disregard risks. According to a recent survey by the Society for Human Resource Management, one in three U.S…. . . . read more

YOUR CAREER

How to stay afloat when the office pessimist tries to drag you under

By Lynne Curry Pessimists come at you with negative words such as “you’re wasting your time” or “that will never work.”  If you’re not careful, this onslaught can snuff out your enthusiasm, leading you to give up on ideas, adventures or opportunities that might power your career or work life forward. Here’s how to avoid letting a pessimist’s negativity drain your optimism. Plug the drain Negativity can be contagious. If you work with a pessimist, remember that they don’t see the whole picture, but instead focus on what’s wrong and anticipate the worst. As Oscar Wilde once said, a pessimist complains about the noise when opportunities knock. If you work alongside a relentless pessimist, don’t tie yourself in knots trying to persuade him things are better than he thinks, just… . . . read more

YOUR CAREER

Just promoted to office manager? Follow these 9 critical rules to avoid problems managing former friends and colleagues

Getting promoted to office manager can be a mixed blessing. As a former staffer, the new manager comes into the job knowing the good performers, the bad performers, the shortcuts, the troublemakers—and a few secrets. But the former peers also know their new boss, including strengths, weaknesses, and what buttons to push. Along with that, they are wondering how their relationship with their former peer will change. And someone who vied for the promotion could be poised to sabotage the new manager. Things are different now. To be successful in the job, the staffer-turned-manager has to carve out an entirely new position in the office. 1. Get a proper introduction The first hurdle is to get into the position with the acceptance of the other staff, and to achieve that,… . . . read more

12 marketing secrets of superstar lawyers

By Trey Ryder #1: They make marketing their highest priority. Superstar lawyers know marketing is the key to success. They hire capable attorneys to do legal work for them so they can focus their attention on maintaining relationships and attracting the clients they want. #2: They know that nothing is more important than their credibility. Superstar lawyers avoid selling-based marketing, which casts them in the role of a salesperson, because it undermines their credibility and causes people to question whether they can be trusted. They use education-based marketing instead, which attracts clients to them because of their knowledge, skill, judgment and experience. #3: They seize the number one position in their niche. The Law of Leadership states it is better to be first than it is to be better. Everyone knows Charles… . . . read more

TRAINING

Prove tech competency at your law firm

By Doug Striker Clients are increasingly asking law firms to prove tech competency before signing contracts for work. Why? Because they know that good tech skills translate into more efficient production, which translates into more bang for their buck. Simply put: Clients don’t want to pay high hourly rates if the people producing the work don’t know how to, say, format a Word document. That is a very fair expectation. But how do you prove tech competency at your law firm? So much of law work today is in the production process: producing products around legal arguments  —briefs, trial documents, contracts, etc. Therefore, if you can prove that your team efficiently uses the document production tools at their disposal, then you can prove that your billable hours are jam-packed with value. One… . . . read more

INCREASING PROFITS

Corporate law departments strengthen ties with outside law firms

A new report on corporate law departments shows increasing investments in technology solutions, an expected increase in legal spend, and strengthening partnerships between corporate law departments and their external law firms. Thomson Reuters released 2022 State of Corporate Law Departments Report on March 22. The pandemic impacted all aspects of business including corporate law departments globally, which have been on the frontlines of protecting businesses during this unprecedented time. This year’s report provides key insights to aid corporate law departments and the law firms supporting them with world-class business intelligence, including benchmarks on legal spend, how to optimize for the future, and innovative ways law departments can stay a step ahead. “The impact of the pandemic and uncertainty propelled corporate legal departments to drive efficiency as a necessity,” said Sunil… . . . read more


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