In an article published in the Globe and Mail earlier this month, Allison Speigel, a commercial litigator with Speigel Nichols Fox LLP, argues convincingly that the billable hour may be at the root of the disaffection of so many recent law graduates with firm-related work. Among Speigel’s arguments against the profession’s most cherished and wide-spread billing system are ones we … Continue Reading
Friedrich Blase, Global Director in Legal Managed Services at Thomson Reuters, is warning traditional law firms – especially the larger ones – of the potential threat to their existence of alternative legal providers, including the growing range of legal-market ventures and forms of disruptive technology. Blase believes that alternative legal providers could present an “existential threat” to law firms as early as 2020. Blase says that large firms … Continue Reading
In a recent article in Practice Innovations Newsletter, Jane DiRenzo Pigott, Managing Director of R3 Group LLC in Chicago, highlights a problem faced increasingly by law firms: how to retain associates with promise and potential who are likely to be courted by other firms. She proposes the “coaching circle” as a strategy to help firms avoid the loss of their valuable young lawyers. The Problem Pigott points … Continue Reading
Statistics show that vast majority of managing partners in law firms in America are older (and usually male) members of the baby boomer generation, born between 1946 and 1955. Many lawyers from this demographic are hanging onto their practices well past the traditional age of retirement, and this phenomenon is leading to an age imbalance that could put … Continue Reading
A February 2016 “Insight Report” from Deloitte takes a close look at the future of the practice of law in the UK, and urges firms to make plans immediately to prepare for changes that are likely to upend the entire profession within a decade. “Indeed, by around 2020,” says the report, “we expect a tipping point for firms which will impact … Continue Reading
Legal-issues writer Elizabeth Olson tackled the subject of the legal profession’s generational divide in “Graying Firms Wrestle with Making Room for Younger Lawyers,” an article recently published in the New York Times. “If any discipline is a window into the debate about balancing short-term profits over long-term survival,” Olson wrote, “it is the legal profession, one of … Continue Reading
An article by Peter Bregman in the Harvard Business Review will interest anyone faced with making a decision from among a range of equally appealing (or unappealing) options – which, of course, happens to most of us all the time. Such deliberations can range from the relatively trivial, like deciding what to have for lunch, to the significant, such as determining how best to broach a difficult … Continue Reading
I am pleased to draw the attention of readers of this blog to the most recent issue of Edge International Communiqué (EIC). The issue features articles by two of my colleagues at Edge International, as well as one that I wrote. Nick Jarrett-Kerr offers advice on choosing effective law-firm leadership teams, and Mike White discusses some “closing” strategies that … Continue Reading
Lars Dalgaard is a venture capitalist with a track record of entrepreneurial success. He sold his last company, SuccessFactors, for $3 billion. In recent interviews, Dalgaard has set himself apart from his peers with his emphasis on establishing a personal connection with employees. In a Business Insider article, Eugene Kim quotes Dalgaard as saying, “We … Continue Reading
In a recent post, Patrick Lamb of the Valorem Law Group talks about one of the most-watched-ever TED Talk videos, Simon Sinek’s “How Great Leaders Inspire Action” – nicknamed “Start With Why.” Lamb explains that in the video, “Sinek compellingly argues that why an organization exists is more important to its success than what it does … Continue Reading
When I am working with law firms that seem to be falling behind the times, and I want to remind those firms of the disruptive effect of new technologies on the legal landscape, I like to introduce the metaphor of the saddle maker. Prior to the mid-1800s, the leatherworkers who built saddles were among the most highly valued … Continue Reading
Check out this TEDx Talks video in which Bobby Stuckey, world-renowned master sommelier, asks industry leaders everywhere: “Are you a hospitalian?” Stuckey opens his brief presentation by telling the story of a couple who, on their 40th wedding anniversary, arrived at his restaurant – Frasca Food and Wine in Boulder, CO – half an hour late and furious with … Continue Reading
In the most recent issue of Edge International Communique, I explored the issue of change in the legal profession, advising readers to take control of where their practices are going in a world where technology is altering not only how legal matters are carried out, but where and how they are accessed. My article begins: Today, … Continue Reading
It is my pleasure to draw the attention of readers of this blog to the most recent issue of Edge International Communique (EIC). In addition to an item I contributed on how to move forward to achieve your firm’s strategic plan, the issue features articles by two of my esteemed colleagues at Edge International: Pamela … Continue Reading
I encourage readers of this blog to devote a few minutes of serious consideration to a new video from McKinsey & Company. In it, McKinsey Digital’s strategy leader Jay Scanlan reminds us of the scope and speed of change that digitization is having on the the way in which all business is conducted, and points … Continue Reading
Edge International is pleased to announce the release of its 2015 Global Partner Compensation System Survey, authored by Edge International partners Ed Wesemann and Nick Jarrett-Kerr. This is the fourth triennial survey that we have conducted (the first was published in 2006) with a view to gaining an understanding of differences in firms’ approaches to … Continue Reading
I was pleased to have been invited to contribute an article to the Jan/Feb 2015 edition of Administrator’s Advantage, the newsletter of the Greater Chicago Chapter of the Association of Legal Administrators. In it, I outline some of the problems typically faced by managing partners in their work with firms’ administrative teams, and the challenges … Continue Reading
The April, 2015 issue of Edge International Communique is now available online. Check out feature articles by three of my Edge International colleagues: – David Cruickshank talks about improving client relationships – Bithika Anand addresses the issue of when lawyers should retire – Sean Larkan shares some tools for building (or rebuilding) an effective firm … Continue Reading
In most law firms, brainstorming processes are dominated by power partners or simply those with force of personality. When this happens, the scope of the process is narrowed and many participants may be disenfranchised. If the goal of a brainstorming session is to tap the brain trust of all participants, then “brainwriting” might be a … Continue Reading
Awareness among businesses of the importance of customer experience has never been greater. By considering how companies assess this experience and work to improve it – such as the introduction of the chief experience officer (CXO) position to management teams – law firms can also improve their competitive advantage. Businesses increasingly recognize that if they … Continue Reading
In 2013, Gregory Jordan left his position as managing partner at the international law firm Reed Smith to work as general counsel at PNC Financial. At a recent Law Firm Leaders Forum hosted by Thomson Reuters, he was invited to share his thoughts on effective law-firm management from his new perspective as general counsel to … Continue Reading
__________ Many of the thousands of lawyers we have trained in client relations skills, or coached to enhance their book of business, have told us that listening is the most important skill they can possess. Invest 7 minutes and 47 seconds to listen to this TED Talks episode by sound expert Julian Treasure, and learn … Continue Reading
_________________________ A recent post on the Human Capital League website talks about “The Boring Trait that Google Looks for in its Leaders.” Contrary to what most of us might think, the article says, “The most important character trait of a leader is one that you’re more likely to associate with a dull person than a … Continue Reading
Kudos to the law firm of Verrill Dana LLP for ranking as one of the top law firms in the US for its percentage of female partners. A nationwide survey by Law360 showed that Verrill Dana is among the top 25 firms in the country with the highest concentration of female partners – earning the … Continue Reading
