Law Firm Management

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Whatever term the economists use to describe the slowing pace of commerce, the real question is: how do you protect your law firm's revenue stream when economic pressures are causing current and prospective clients to tighten their budgets?

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Routines based around 'work from home' are calcifying, and commuting, parking, sandwich shops and childcare are fading into distant memory. With each passing week, the challenge to win attorneys back into the office increases.

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Security and privacy start with good information governance, and for many firms — trying to get their information governance policy implemented feels a lot like Groundhog Day. Yes, the one with Bill Murray. Let's take a closer look.

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Whatever term the economists use to describe the slowing pace of commerce, the real question is: how do you protect your law firm's revenue stream when economic pressures are causing current and prospective clients to tighten their budgets?

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Mandatory retirement policies have dogged Big Law for decades, creating partnership tensions and fractures in some law firm client relationships. But more law firms are beginning to loosen their retirement policies, analysts say, even when it creates more challenges with younger generations of lawyers.

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Some law firms are realizing that the hasty, though necessary, decisions made to facilitate remote work should be revisited or undone. Many of the tools implemented in an emergency are insufficient to withstand the increasing cybersecurity threats law firms are facing today. The good news, though, is that it's not too late to implement the right tech to protect your firm.

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It is no surprise that in this environment many lawyers are prioritizing qualitative factors, such as work-life balance and feeling appreciated and recognized at work, rather than compensation alone when choosing where to work. Why is it no surprise? Because many of their employers began valuing quality over quantity with their ALSPs years ago. And this shift might do even more for your organization.

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A recent LMA Well-Being Wednesday program provided a range of big ideas and small tips for legal marketers and law firms on implementing a well-being program.