As we enter the New Year, chances are good you’re dealing with a predictable slate of demands on your time: setting compensation and budgets; managing details associated with the latest departure; and interviewing this week’s lateral prospect. All important activities, and worthy of serious attention; but none of these is likely to make the firm
Creating a Stronger Law Firm in 2021
Most firms are in the final stretch of 2020, wrestling with collections, budgets, PPP loan forgiveness, 
promotions and compensation decisions. All of these are important activities. But, while focused on wrapping up 2020 let me suggest one more subject that deserves attention — something that stands a chance of making a real long-term difference.
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Law Office Space – Lessons Being Learned
Managing the delicate balance of law firm economics has always been a challenge. In serving any particular market (practice type and geography), firms struggle to find that sweet spot — the perfect formula of rates/pricing, productivity, cost, and resulting profits. Should any one of the particulars get far out of equilibrium, the consequences can be
Covid-19, Compensation & Culture
In response to the pandemic many law firms reduced the pay of owners, associates and staff. Many of these moves were made specifically to avoid layoffs while managing the uncertainty associated with future cash flow.
During the last six months firms have adapted to a new way of operating and the feared decline in revenues
Planning for 2020 Year-end Planning–The Pandemic Addendum
Well run law firms annually set aside time to plan for year-end activities and decisions. In addition to using institutional processes, systems and experience to wrap up the successful (hopefully) year, most firms use that time to plan for the coming year. Like clockwork, important decisions for the firm’s present and future have often been
Adding Talent During Covid-Two Important Requirements
In the turmoil caused by Covid-19, many law firms have had to adjust to unforeseen circumstances. News stories tell the sad tale of law firms being adversely impacted. Some firms have closed, and unfortunately others will follow.
With one firm’s demise comes opportunity for others. Clearly, personnel leaving the firm in wind-down must find homes
Two Proven Elements to Conquering Law Firm Crisis
Virtually all law firms have had to adjust business practices to address the pandemic’s impact. Whether working remotely, refocusing or changing firm economics, making personnel moves, or partnering with clients more, today’s challenges have fundamentally changed the way law firms operate. For the law firms grappling with too many upheavals in their world, crisis looms.
Planning for the Loss of a Law firm Leader
In last week’s post, we explored the surprise loss of a law firm leader. Today I want to suggest an orderly approach to this inevitable event.
The Zeughauser Group conducted a survey that included several interesting issues. Three observations related to planning for the long-term health of the firm struck me.
· When describing
The Loss of a Law Firm Leader
A recent post in Law.com about Boies Schiller and Flexner reminded me of the critical dynamics associated with losing key members of a law firm. The departure of individuals responsible for a significant amount of client revenue, or those who serve in leadership positions can be traumatic events and may pose a considerable threat to
Pause After Responding to the Pandemic? Two Assessments All Law Firms Should Consider
The pandemic has caused an unprecedented change to the practice of law for many law firms. Since March, the delivery of superior client service has required a new way of thinking and a little bit of scrambling. Yet after a couple of months living in the Covid-19 world, some law firms feel a new normal