Another year for law firms is in the books and the numbers, to state it mildly, do not signal a return to the pre-2008 halcyon days. Based on a report from the respected Georgetown Law Center for the Study of the Legal Profession, it appears that challenges to the legal profession continue and are
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
(This post previously appeared on January 15, 2015 and noted some of the similarities between marital divorce and one of the more extreme forms of law firm transition-breakup. As we reach the end of 2015, for some firms the joy of another year completed may be supplanted by the tension and stress that often
Law firms today and in the future must deal with a shifting legal services market that makes succession a more formidable task. Succession is not simply finding a way to deliver the gold watch with dignity and promoting firm-wide acclamation for the new leader. No, it is a lot more as recent reports and analyses
Every single business, if it is around long enough, will face a time of crisis. Law firms are no exception.
Whether a series or a single event, crisis comes with a handful of pivotal moments. Mishandled, these moments can threaten the very existence of any organization.
If you’re managing a law firm you know that
Law firm succession, whether leadership or client focused, has been an issue for law firms for a long time. Recent articles written about the legal industry suggest that succession will be different if not more difficult in the future.
At the risk of waxing about the “good old days,” it is arguable that operating a
When the subject is your internet service, bandwidth refers to how much information your provider will push to you in a specified period of time. Need more information faster? More bandwidth is as close as a bigger check.
But when we’re talking about a person’s total work capacity — how much information you can take
Somewhere along the line the idea of being held accountable began to be viewed as punitive. Paying the price.
Certainly this is part of the equation; but accountability is a much greater concept than merely calling one (or a group) to account for decisions and deeds.
Today’s most effective leaders know this, and successfully
To merge, or not to merge? That is the question. More and more law firms face that issue these days. We often advise law firms facing that watershed possibility and take them from considering merger in the abstract to addressing its reality. But because roughly 50% of mergers reportedly fail, properly evaluating a potential
