Managing Partner Performance
Now that 2009 has come to an end, law firms are breathing a sigh of relief and looking forward with hopes of a better year to come. As with any year-end, it is also time to dole out partner compensation, and many firms are hoping they were able to stem the lack of demand for legal services with cost-cutting measures to keep their profits per partner above an acceptable threshold. One interesting observation is that although many firms evaluated their employees and their performance relative to saving the bottom line, an in-depth view of partner performance was by and large ignored.
Planning for a Successful 2010
As a participant in a law firm, you should be thinking about what you can do to contribute to the success of the firm on a frequent basis. Whether you are the managing partner, a practice group leader or an associate, your daily, weekly and monthly activities should contribute not only to your personal goals, but to the firm's goals as well. In addition, your goals should include those related to current clients, potential clients, marketing and firm administration. The following are some important goal-setting techniques and some examples you should keep in mind throughout the year, not only to make sure you are growing personally, but also to make sure you have contributed to the overall growth of the firm in a meaningful way.
Pricing
Despite mounting client discontent, most law firms so far have been either unwilling or unable to change the way in which they price their services. This article argues that this is because most law firms continue to sell their partners and associates rather than selling legal services. It also provides some perspectives on the issue and summarizes small improvements that firms can make to better manage their pricing.
Profitability Analysis: The First Steps
If your firm has a number of legal departments, how does one determine the profitability (or economic contribution) of each? Delving further into a specific department, how do you measure the profitability of a practice area?
The Coming Honest-Services Storm
Not since 1987, when the Supreme Court issued its bombshell decision in <i>McNally v. United States</i>, has the honest-services mail fraud doctrine received as much attention as in recent months. When the dust settles, it is possible that one of prosecutors' favorite weapons will have been sharply restricted or taken away.
Changes to Form I-9: Administrative on Their Face; Substantive In Effect
As of April 3, 2009, employers were required to use the new Form I-9 for employment eligibility verification for new employees and applicable re-hires. The new form is the latest step in what has been an unsystematic effort by the United States government to create and enforce immigration laws in the workplace.
Ordinary Leaders: An Untapped Resource
The kind of leadership that works best is not always the kind of leadership to which a managing partner is most naturally suited. Many organizational issues that a leader must face call for what we call "ordinary leadership."
Collision of Classes and the Training Challenge
How will law firms deal with the different class and experience levels that may be joining law firms at the same time? In this new legal world, designating classes for advancement by law school graduation year may no longer be feasible.
