It can be difficult to focus on work this month. May is when many of us come down with spring fever, yearning to get outside in the garden or on the hiking trails. Added this year is the anticipation life might be heading to some sort of normal after more than a year of COVID-19 restrictions, but uncertainty about planning activities. Start planning coverages for summer … [Read more...] about TO DOs: Your May office checklist
Increasing profits
Tech, talent search and space reduction drive law firm changes
Change is a fact of life for law firms today, and leadership is fully aware—three in four survey respondents noted their firm’s partners are receptive to change. This need for change centers around two central premises: the need to improve real estate efficiency to stay lean and cost-competitive, and the need to evolve to attract talent and accommodate new ways of … [Read more...] about Tech, talent search and space reduction drive law firm changes
Are you measuring the right metrics for your law firm training program?
By Doug Striker bio I recently attended a fabulous webinar hosted by LearnUpon, the award-winning company that serves as the platform for our Savvy Academy Learning Management System. This webinar was designed to help learning and development (L&D) professionals quantitatively assess the impact of their training programs. Let’s face it—this is the biggest challenge of any … [Read more...] about Are you measuring the right metrics for your law firm training program?
Use your high performers to engage the rest of the team
Among the goals of any manager is to create and maintain a high-performance organization. That means you have created a machine that operates at top efficiency, and your employees are engaged. Some organizations don’t believe this really applies to them. Research has suggested that only 25 percent of the typical workforce is engaged. This means that only a fraction of your … [Read more...] about Use your high performers to engage the rest of the team
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
Want to jump ahead of the competition? Get everybody aiming for the same thing
No matter what the business, the winning players are always organizations with a motivated and productive workforce. And what maintains motivation and productivity is goals—plus mentoring, coaching, and training to help everybody achieve them. Workable goals admittedly take thought, planning, and a lot of follow-up, says business development and management consultant John … [Read more...] about Want to jump ahead of the competition? Get everybody aiming for the same thing
Keep your accounts receivable young
Collection work is something that can't wait, because a dollar of receivables doesn't stay a dollar for long. The dollar the office bills this month will be worth only 50 cents six months from now. In a year, it will be worth no more than 23 cents and probably more in the range of 19 to 20 cents. After two years, a 5-cent recovery is about the best any office can expect. Much … [Read more...] about Keep your accounts receivable young
How to reduce the risk of in-office theft
Theft in law firms comes from all corners, from staff to partners. "It happens more than people realize," says legal management consultant John W. Olmstead, MBA, Ph.D, CMC. In fact, his own experience of working with law firms leads him to estimate that one in nine firms has experienced some type of theft. Every firm needs theft protection. But that protection needs to do … [Read more...] about How to reduce the risk of in-office theft
Job descriptions make paralegals a profit center
A Phoenix firm realized its paralegal force was not paying for itself in billings. Instead, the group was not only unsupervised but was being given a lot of non-billable work assignments,. In response, the firm set billing requirements, drew up a paralegal job description, and, to encourage its paralegals to exceed the minimum, developed an objective bonus system. Along with … [Read more...] about Job descriptions make paralegals a profit center
How one California law firm regained its corporate culture and improved business
How do you grow your firm and still maintain a close-knit team? Jason Pink, Administrator of Gianelli & Associates in Modesto, California, tells how their firm handled it. We're a small, but busy, 9-attorney law firm. When we outgrew the 6,500 square foot building we were in, we added an annex at the next door building. We moved three attorneys and a few staff over there. … [Read more...] about How one California law firm regained its corporate culture and improved business