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Features
For a long time, the formula for law firm leverage was simple: grow the base of the pyramid by hiring more associates, keep them busy, and profit. But in recent years, that arithmetic is looking more like calculus as expanding nonequity partner tiers increasingly contribute to the law firm leverage equation.
Features
While growing by acquiring lateral partners and practice groups can be lucrative, it carries many risks. Lateral candidates' projections of the revenue they will bring to a new firm can prove inaccurate, or a particular candidate may simply be a bad fit culturally.
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Generation X lawyers stand poised to wield considerable influence. Often the unsung heroes in discussions about generational dynamics, Gen X professionals bring a wealth of strengths to law firm leadership. Their pragmatic outlook, honed by navigating shifts in technology and societal changes, positions them as adaptable leaders.
Features
Increasingly, law firms rely upon acquiring lateral partners and practice groups to grow revenue more quickly than they can by increasing output with existing talent. With this kind of money at stake, a prudent firm is constantly on the lookout for ways to hedge against the risks of acquiring laterals. Implementing an effective retirement succession program is one of them.
Features
It's time for attorneys to return to the office on a five day a week schedule. There is significant evidence that shows remote learning is not as effective as in-person instruction.
Features
It's time for attorneys to return to the office on a five day a week schedule. There is significant evidence that shows remote learning is not as effective as in-person instruction.
Features
Last year saw a "staggering" jump in the number of law firm leaders who said they wanted to increase their nonequity tier going forward. Now it's clear many of the biggest Big Law players are following through, with several Am Law 100 firms growing their income partner ranks by double-digit percentages in 2023.
Features
In a quest to maximize profitability, Am Law 200 law firms have grown their share of business tied to contingency fees, a gamble that has paid off for some firms in recent years.
Features
Organizations understand that their workplace environment reflects the culture of their organization and are making extraordinary changes to their real estate and fundamental differences in their office operations. But is it working?
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Generation X lawyers stand poised to wield considerable influence. Gen X has always served as a bridge — between tradition and innovation, the old and the new. Unlike their predecessors who were more comfortable with tradition and a stare decisis mindset, they infuse a sense of flexibility and agility into management strategies.