Older lawyers are known as "Of Counsel" at The Firm traditionally sought to curtail their workload and escape the pressures of partnership. Exercising the right to designate a former partner as "Of Counsel" has also been a convenient way for The Firm to avoid the unpleasantness of ousting senior lawyers whose legal abilities may be waning (and the inevitable lawsuits that follow). A further advantage of the traditional Of Counsel category is that it allows lawyers to avoid full retirement. Basically, it gives them a place to go. For lawyers' spouses who, over the past several decades, have grown accustomed to having their life partner at The Firm and out of the house almost every waking hour, this provides an invaluable relief. Read further to know about different law firm titles and how long it takes an attorney to reach those titles.
Typically, an employee handbook outlines what you expect from your employees, as well as what they can expect from you. In other words, it outlines your legal obligations as an employer and your rights as an employee. In this document, you will find essential information about your company's policies and procedures as well as details about your workplace that employees may need to know. Read on for more information on the importance of having an employee handbook.
- Top 13 Ways To Massively Increase Your Law Firm's Profitability: A Guide For Stratospheric Law Firm Profits
It is not only that lawyers, whether they are associates or partners, work inside large, prestigious law firms, but they have to be aware of, and in some cases, dictated by the law firm’s profitability. Legal practice today states that law firm profitability is a critical management task that influences strategic management decisions. Even though profitability is easily defined, traditional law firm partnership financial reporting models are difficult to analyze or compare within the legal industry. Is your law firm bringing in as much profit as possible? This article provides steps to take to improve your law firm’s profitability.
The challenges facing law firms are unique to them. Human resources are no exception. Other organizations, inside and outside of the legal industry, do not have the structure of law firms. There are a lot of standards that law firms do not follow, such as work hours, hierarchy, and so on. This article discusses the top 10 unique challenges that law firm HR departments should address.
For associates, what is the most damaging aspect of law firm life? The billable hour. Billable hours are not just used to track client charges for legal services they have received, but also to measure how much work associates perform on that client's behalf. Yet do your associates truly understand that and how billable hours can affect them in the long run? If you do not, read on to learn about the three aspects every lawyer needs to understand about billable hours.
An executive summary of a project is crucial because it enables top management to find both relevant information and employee achievements more quickly. Due to the uniqueness of each business project, project executive summaries are also somewhat different each time. Nonetheless, as with everything else in life, there are good rules to follow when checking executive summaries for projects. The management needs to double-check whether the executive summary addresses the concerns of the stakeholders through its essential five parts - the focus of the project, goals, summary, key findings, deliverables, and appendices (if any). This article gives you an insight into the 5 parts of a project executive summary.
We are sometimes knocked off our feet by life. Whether you are feeling worn down by everyday struggles or something big knocks you off course, we all need a boost to get back on track. Remember, getting back on track doesnot always mean diving in and going all in, because thatis often the point where we wear ourselves out, and then we end up in a cycle of quitting, going all in, quitting again, etc. Start by adding small steps to your life one day or week at a time. Use these 20 inspirational quotes to help you get back on track after a rough day, week, month, or year.
Having as many young lawyers as older lawyers is a good idea for law firm managers. When it comes to legal issues, some respect age over youth. However, whether a client favors a younger or older attorney, the main question is to whom the legal issues at hand will play; an older or younger attorney. The purpose of this article is to discuss the advantages younger attorneys have over older attorneys, and how the client should have the final say based solely on their legal needs.
As traffic ensnares us between home and work and more responsibilities require us to be at home more frequently, working remotely can certainly have its advantages. At the same time, however, working remotely can have its disadvantages. In this article, we gain insight into the concept of working remotely and how it affects the legal industry as a whole.
According to the ABA Journal, law firms are set to grow even if the market takes a turn for the worse. The results of a survey revealed that 63% of responding law firms felt satisfied or extremely satisfied with their lateral hire experiences. It is believed that one of the key reasons that lateral hiring for law firms is successful is because of improvements in the lateral hiring process. So, just what is the lateral hiring process? How does it affect your law firm? Are there benefits of lateral hiring for your law firm? Is there anything you could or should do to help the lateral hire adjust to their new professional life so that they are more likely to stick around? This article answers how you can get lateral hiring right for everyone involved.