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No industry is immune from layoffs in a global (and shrinking) economy, and law firms must prepare for this highly delicate situation to hit home. Handling layoffs from a PR and crisis management perspective requires sensitive, transparent and clear communication.
Features
Part One of a Two-Part Article Despite the steady growth of global AI adoption, there is no comprehensive federal legislation on AI in the United States. Instead, the U.S. has a patchwork of various current and proposed AI regulatory frameworks. It is critical for organizations looking to harness this novel technology to understand these frameworks and to prepare to operate in compliance with them.
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Your clients are what they are, clients. The idea that they can be turned into bigger clients by you developing them is a myth. If you need to develop yourself to make your clients bigger — such that they send you more of their business more often — how do you go about it?
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At the "unawareness" stage of the buyer's journey, potential clients may not have (or don't know they have) a legal problem that requires a lawyer. They may not be "on the road." Yet it's important to consider prospects at this stage in your content planning, in part because clients can go from "not really looking" to "considering options" very quickly when the need for legal services arises.
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Law firms, in order to create lines of succession, need to empower younger attorneys to take leadership roles. That is how they learn, and the associate's slide demonstrates how tone, culture and expectations can be set throughout a law firm — not just by those sitting in the executive ranks.
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In an economic downturn, the easy option is to conserve and preserve cash by reducing headcount and slashing external vendors. And in the wake of recent layoffs by law firms, corporations, professional services and legal tech companies, it seems almost second nature to join your peers when the financials aren't looking so good. But is this in fact the right thing to do, especially if you want to grow?
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Marketing leaders on the front lines talk about the evolution of law firm business development, and what's happening with the all-important event — in-person or online gatherings for clients and prospects.
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A well-crafted bio is a critical marketing tool that can position you as an experienced professional who can solve the problems that matter to your potential clients. Attorney bio pages are one of a law firm website's most important and viewed sections; therefore, yours must be well-written and encompass your work and the work you want to attract.
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the word "invest" was top-of-mind for many law firm leaders, particularly when it came to Managing their equity partner ranks. Even as demand and profits fell in 2022, Am Law 100 firms increased their equity ranks by 1%.
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One of the lessons we learned — or should have — from the pandemic was that, from a market share perspective, if companies are not visible and in front of customers, it is hard for them to retain existing clients and prop up market share