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Risk management within law firms is a rapidly developing area. In the last year economic changes alone (the term 'credit crunch' was as yet unheard of when the second edition was written) have served to highlight the need for your risk management strategy to be under constant review. The credit crunch raises the game for all firms substantially, bringing to the fore issues involving: People; Clients; Regulatory risk; and Insurance. This report, substantially increased in size to deal with the emerging issues, aims to give you a clear understanding of how they will affect your law firm and how you need to respond, in order to manage them effectively. The third edition covers: Solicitors Regulation Authority (SRA) monitoring and enforcement of the Solicitor's Code of Conduct 2007; The Legal Services Act 2007 and the risks it presents; and A review of compliance with the Money Laundering Regulations 2007 - a year after their implementation on 15 December 2007. The report guides you through the distinct requirements of a risk management system including: Responsibility at senior management level; A framework for managing risk across all parts of the business; Integration of risk management processes into firm culture; Accountability in each practice area and support function; A risk evaluation process; External assessment; and Business continuity planning. Subjects covered include: Credit crunch risks; People and culture issues; Client engagement; Finance; Protecting partner assets; Compliance; File auditing; Managing your insurance; Office systems; Location and premises issues; Professional indemnity insurance; And more - Risk Management for Law Firms, 3rd Edition provides an in-depth analysis of key risk areas within the firm and aims to help firms meet new and emerging challenges with clear, practical examples.

There is no denying that the legal profession has been through an unprecedented period of change. Alternatives to the traditional - in terms of service providers, business models, workflow systems, delivery vehicles, pricing strategies, and so on - are becoming normalized. An excellent example of this is business process improvement. For a profession suffering from aggravated clients, shrinking revenues, competitive inertia, archaic business practices, and system waste, the continual implementation of process improvement strategies (Lean/Six Sigma/Project Management) will be the key to future success. It is easy to understand, is inexpensive to implement, lowers costs, improves quality, enhances communication, facilitates lawyer training, makes fixed fees profitable, and makes clients happy. Lean Six Sigma for Law Firms, authored by Catherine Alman MacDonagh, is the first report of its kind to provide in-depth strategic and tactical guidance on the application of Lean and Six Sigma in law firms, the different approaches firms are taking, where to get started, and case studies highlighting the results have been for those who have already implemented it.This report: + Defines Lean and Six Sigma as they relate to the legal profession + Highlights the interdependent relationships between Lean, Six Sigma and Project Management + Demonstrates the different ways in which Lean and Six Sigma may be employed in law firms With contributions, case studies and insight from leading law firms, corporate counsel and a wide range of internationally renowned experts on legal process improvement and project management, it also covers topics including: + The methodologies and toolkits of Lean and Six Sigma + Deciding when and where to start an improvement program + Applications, obstacles, benefits and lessons learned + Building the business case - the drivers for employing process improvement + The use of process improvement to deliver greater value to clients + Developing competitive advantages through Lean and Six Sigma + Structuring a process improvement program + DMAIC - The framework for Lean Sigma in law firms + Creating culture of continuous Improvement This report provides you with the tools and best practices needed to reap the benefits and face the challenges of implementing Lean and Six Sigma strategies in your firm.

This inspirational handbook is packed with hundreds of proven tools, tips, and techniques for increasing revenue and forging relationships with clients and colleagues that will last you a lifetime. The rainmaking secrets revealed will enable you to: Find practice niches; Apply alternative fees; Accelerate cross-selling; Categorise your key targets; Use social media effectively; Identify and build personal strengths; Deliver exceptional levels of client service; Build powerful internal and external networks; Get client meetings and maximise their effectiveness; Improve lateral success and enhance lateral integration; and Make business development a career-long, sustainable process. Secrets of the Masters features a highly regarded team of over two dozen law firm marketing and business development experts who offer their insight, experiences, and real-world tips on attracting, retaining, and growing your client base. Each chapter also includes an extensive range of business development approaches and mini case studies, along with a useful planning worksheet which prompts you to make decisions and take action. PLUS...Within the complimentary CD-Rom you'll find all the supporting worksheets and checklists featured throughout the book, along with a personal business development plan template to help you tailor your strategies. "e;Secrets of the Masters"e; is the most comprehensive, yet practical "e;how to"e; guide I've seen for developing business in the legal industry. Whether you're a young lawyer starting to build a practice and reputation, or a seasoned practitioner looking to achieve the next level of success, this book is your roadmap. Simply stated, if you heed its principles, you will make more money."e; - Jonathan Fitzgarrald, Chief Marketing Officer of Greenberg Glusker and author of BADfortheBRAND.com

This critical report provides the most up-to-date and detailed guide to the practical, regulatory and ethical considerations that must be reflected in your partnership agreement. Extensively revised, the second edition features new case studies and real-life examples, including a sample agreement precedent and comprehensive updates to reflect how new legal and regulatory developments will affect your deed. Key subjects covered include: *The impact of the Legal Services Act on partnership agreements; *Discrimination in partnerships, in particular, age discrimination; *Outcomes-focused regulation; *New business structures; *Distressed partnerships; *Current trends in mergers; *Profit-sharing arrangements and management structures: *The equality system *Profit share by capital contribution *Seniority (lockstep) *Merit or performance systems *Hybrid profit sharing systems *Retirement annuities *Performance measurement, supervision and disciplinary measures; *De-equitisation: provisions for expulsion from the partnership; *Expulsion, retirement and dissolution; *Good faith, arbitration and mediation; *Drafting for the future, avoiding early revisions and much more - Ensure you understand the necessary considerations of an agreement that not only fulfils legislative requirement, but ensures the attraction, retention and motivation of the best talent for your firm.

With rising competition putting pressure on law firms to raise their performance levels, Alan Hodgart's much anticipated report on Performance Measurement for Law Firms could not have come at a better time. Hodgart, an acknowledged industry expert, provides practical step-by-step guidance on how to effectively measure the performance of your fee earners, core support functions and overall firm. Hodgart highlights the key challenges many law firms face when measuring performance and provides critical advice on how to tackle them successfully through the development of an effective performance measurement system. Key topics covered include: * Measuring performance in law firms - what it means and what to measure; * The key financial measures of profitability and how to calculate them - cost, profit, revenue; * The data and financial information required at firm and practice-group level; * The effective use, and abuses of financial data; * Aligning the economic structure of your type of work to maximise profitability; * Implementing an effective performance measurement system; * How to measure the performance of your fee earners and support staff - finance, IT, Marketing, HR, KM and other; * Client profitability, project management and much more - The report focuses particularly on profitability and demonstrates how it can be used to monitor and compare the outcomes of working with different clients to project future revenue and profit levels. It also includes a useful appendix - an 'Economic Template' which demonstrates how to assemble the relevant data to manage the financial performance of your firm. Performance Measurement for Law Firms is essential reading for any firm looking to measure and enhance all areas of their performance.

So you AZre in A C or striving to be in A C The Lawyer AZs top 200. But are you being measured on what your clients actually find attractive? With increased demand for efficiency, value added services and effective governance, a ranking based simply on revenue is not sufficiently compelling. Having an effective governance model and the right measures of success in place are now vital to secure sustainable profitability for your firm. AZs report on Law Firm Governance and Measurements of Success provides a vital examination of: New governance models for law firms of different sizes and complexities; Law firm growth stages and the structural changes necessary to succeed; Overcoming the cultural barriers/issues involved with changing your governance and/or measurement systems; Current measurements of success A C internal and external; New medium and long-term success metrics to better support long-term thinking, and payment and reward structures; Attracting clients and external investors through effective reporting of your firm AZs success; and more Peter Blair, former first chief operating officer of Field Fisher Waterhouse provides cutting-edge analysis on The Lawyer AZs top 200 firms by examining what creates their success. Peter evaluates whether the measures used are effective and demonstrates how by using alternative metrics you can boost your rankings. Featuring real-life case studies this invaluable report provides a vital insight into current law firm governance models, examines where they are going wrong and how they can be improved to secure sustainable growth.

Key report features In-depth advice on the need, impact, and profitability of hiring a pricing director Detailed insight into the function and skills of a pricing director Clear definition of the strategic position of pricing within a firm How to evaluate the benefit of a pricing director for your firm and its clients Real-world scenarios. The new path to profitability is paved with pricing directors. That's the trend we're seeing, with more than 50 pricing positions created for Am Law 200 firms in 2012. Put the 'ah!' in RFP The push is on for law firms and clients to focus on their pricing and matter management strategies. By hiring a pricing director with skills in analytics, technology, commerce, and communications, you're set to create effective pricing strategies and support your firm's competitive advantage. Who's in the hot seat? Your pricing director is the budget builder, the profit modeller, the counsellor, the monitor, and the approver: you want to make sure that those already in this role are comfortable with its evolution, or that a new hire can confidently take on the challenge. Brown and Cordo's Law Firm Pricing: Strategies, Roles, and Responsibilities clearly defines the skills and remit of the person required to fill this demanding and responsive role. It provides practical guidance into hiring and developing a strategic pricing role within your law firm that drives successful relationships and profitability.

There is a widespread and growing acceptance in legal services organisations worldwide that dealing with stress and burnout is not just the responsibility of the individual lawyer. The mitigation and prevention of excessive stress in the legal workplace are now being recognised as critical management responsibilities. This expectation has serious measurable implications and consequences for managing partners, general counsel and other leaders. This practical guide summons lawyers, leaders and managers to greater alertness about stress-producing factors in the workplace and to more effective applications of practical responses and methods in the special conditions and circumstances of the practice of law in today's often intense and highly competitive environment. It is written expressly for professional colleagues who want to work together in common cause to bring greater awareness to wellness needs and to minimise excessive stress or distress in the legal workplace, positively impacting workplace culture, professional relationships, firm reputation, talent retention and profitability. Written by a world-recognised counselling psychologist, who has worked exclusively with the people and organisations in the legal services industry for more than twenty-five years, it focuses on actions, not theories and philosophy, that any leader and legal services organisation can begin to use immediately to make sustainable investments in the well-being of its people.

Law firms have evolved exponentially over the last few decades, and today it requires far more than legal skills for firms to operate efficiently, fulfil client demands, give back to their communities and, ultimately, succeed. As a result, specialist roles beyond fee-earning have been created and more continue to emerge as technology advances and competition intensifies. They are a crucial part of future-proofing law firms and there is growing recognition of the respect and value they deserve with increasing numbers gaining positions in senior management. These roles range from working with legal tech to bringing in new business, from managing the firm's risk and compliance function to collaborating with clients to develop new products. For a lawyer looking to take the next steps in their career, or a law firm wanting to implement the career paths required for future success, it can be difficult to know where to begin.The Rise of Specialist Career Paths in Law Firms is the essential guide to the plethora of career opportunities available in law firms. It covers more established roles such as the professional support lawyer and pro bono professional, and new, emerging career paths, including in innovation and legal operations, as well as roles that will become available in the future. Written by experts with lived experience performing these roles, chapters provide information and insights into the different opportunities available, the skills needed to thrive in these positions, the responsibilities they entail and how to build careers in these spaces.With increasing client demands and the 'talent war' raging, this title will demonstrate how implementing these specialist career paths will enable law firms to continue to provide stellar client service and develop and retain top legal talent, who are increasingly looking for more tailored and flexible career options. It will also provide individual lawyers with the resource to identify and pursue the career that suits them best, allowing them to thrive to the benefit of both the individuals and their firms.

Judges are increasingly aware that the best way of enhancing public confidence in court systems is not only by providing a quality service but doing so compassionately and respectfully. The art and craft of judgment-writing is a critical element of this process. This book looks at the judgments of historically great judgment-writers from the US, UK and wider common law world (in particular Australia, Canada, India, Ireland, Israel and New Zealand). It is written not from the perspective of what the author can teach but with the aim of identifying essential elements of good judgment-writing in great judgments and insightful commentary.Written by Dr Max Barrett, a judge of the High Court of Ireland, individual chapters focus on subjects such as judgment purpose, length, style and structure, concurring and dissenting judgments, judgment-writing for children and vulnerable parties, as well as more general lessons in good writing offered by great authors from Orwell to Twain. Among the lessons to be taken from great common law judges are that:a good judgment possesses an ability to rise above immediate facts and to see a problem in its wider perspective;a sense of empathy/sympathy for those faring badly is always important; andthere is nothing wrong with language that is occasionally flowery and ornate; however, the best judgments are crisp and persuasive.A great author such as Mark Twain teaches, for example, that:every element of a judgment should be necessary to that judgment and any unnecessary element excised;any person or event included in a judgment should be included for a reason; anda judge should always use the right word for what she wants to state, ΓÇÿnot its second cousinΓÇÖ.This book is intended for novice superior court judges, their more seasoned colleagues and all with an interest in legal writing (including legal practitioners, law teachers and law students). Lower-court judges required to write judgments should find the book valuable; and judges at all levels should find the additional chapter on ex tempore judgments of use.

Next Generation Corporate Libraries and Information Services recognises the increasing challenges facing the library function in organizations of all sizes and industry sectors. In light of the changing business environment, growing demands on the information services function and, for many, massively reduced budgets, this critical new report will provide you with real-world practical advice that will enable you to overcome these challenges and improve service delivery. Next Generation Corporate Libraries and Information Services will provide you with the information you require to benchmark your strategies, ensure you continue to deliver the services that are required, and demonstrate your vital and integral role in how your organisation operates. Featuring case studies, insight and contributions from information resources and library professionals across a number of business sectors, this new report will cover topics including: Emerging roles: how the librarian's role is evolving in response to the changing business environment; Co-ordinating with other support functions throughout your organisation; Supporting, contributing to and optimising knowledge-management practices to enhance service delivery; How can librarians play a key role in competitive intelligence initiatives? Managing budgets in the current climate, and effectively emonstrating ROI to senior management; Developing a strategic business plan - building the business case for increased resources, staff and additional technology; and Taking advantage of the latest technological advances and trends - including social networking, blogging, RSS and corporate wikis. The report is written by Constance Ard, whose extensive 13 years of experience in working in corporate libraries and information services, coupled with expert opinion and key case studies from leading firms including Beachcroft, Merrill Lynch, YMCA and more provides a truly comprehensive look into the future of library and information services and allows you to learn from your peers who are tackling and overcoming the same challenges you face on a day-to-day basis.

The second edition has been fully updated to take into account the pandemic and the adverse impact this has had on diversity and inclusion, along with other developments and includes new chapters on belief, ageism, mental health and intersectionality.

Are you making the most of your firm's cross-selling opportunities? On average, in a typical firm, 20% of the lawyers are high-performing rainmakers. They know the secrets to capitalising on business development opportunities and they often manage to secure big clients. A further 20% are doing little in the way of business development. The rest (around 60%) are sitting somewhere in the middle. They're bringing in business, but more needs to be done to find that extra revenue. How can this 60% really capitalise on making more money? More and more law firm leaders are turning to cross-selling. Develop a cross-serving culture to cross-sell In many cases, cross-selling in the legal sphere is a lot easier said than done. It should be easy to get more work in different practice areas from your existing clients, but organisational challenges and working cultures can often stand in the way of cross-selling success. How can your firm overcome these challenges and make the most of this traditionally untapped revenue stream? Creating a Cross-Serving CultureShift: Mastering Cross-Selling for Lawyers and Leaders is a practical guide dedicated to helping you achieve exactly this. Packed with clear, actionable guidance on how to attract, retain and grow a client base, it provides scores of practical tips to help you and your firm become a true master of cross-selling. To address the crux of the challenge at most firms - adjusting mindsets and cultural attitudes of lawyers to encourage cross-practice collaboration - the book outlines a proven strategy to address the cultural change that is necessary to a successful cross-selling initiative. The guide will also show you how to: Initiate excellent communication between practice groups Educate your teams to ensure they have a deep understanding of the services offered by other lawyers at your firm Instill a culture of trust and empathy between lawyers so a cross-serving culture can develop more easily Implement an active client feedback programme Achieve higher levels of client service, so you become the firm your clients turn to for important work Implement a compensation system that rewards team-based behaviours Encourage personal accountability Employ proactive leaders who are committed to driving key cross-serving behaviours Why this guide is a real-game changer Learn from David Freeman, one of the world's leading authorities on maximising cross-selling in law firms. He has over 30 years' experience and was recognised as the top "e;Law Firm Business Development Consultant and Coach"e; in National Law Journal surveys in the US. Actively increase the amount of lawyer time and energy that is devoted to cross-selling at your firm. Uncover 13 key 'Accelerators' that will help your future business development success. Drive greater cross-selling success with the Appendix designed for firm leaders, offering a practical, high-level checklist of major activities. In addition to the author's perceptions, this book includes insights from law firm leaders who have provided input based on a survey conducted specifically for this project. What your peers are saying "e;In my opinion, David is the world's leading authority on practical aspects of maximizing cross-selling in law firms."e; Elizabeth Anne "e;Betiayn"e; Tursi, Global Chair and Co-Founder, Women in Law Empowerment Forum "e;David Freeman has a keen understanding of the art of cross-selling and the benefits it brings. His professional background and experience allows him to articulate the case for team centered business development in a way that motivates and inspires even the most reluctant professional.."e; Peter Kellett, Chairman and CEO, Dykema "e;David Freeman has literally written the book on cross-selling. This is NOT a 30,000 foot view but rather he gives us boots on the ground, practical guidance from years of overcoming obstacles in every type of law firm culture."e; Doug Hoover, CMO/Director of Marketing & Business Development, Schiff Hardin LLP

Petroleum royalty agreements are well understood and widely used in several jurisdictions worldwide, and are increasingly being used in many new jurisdictions as a tool for petroleum project development, financing and divestment. However, they are not always drafted with the necessary rigour, and deficiencies are commonplace. This Special Report provides an overview of the key issues relating to petroleum royalty agreements (with drafting examples), including:key forms of royalty agreement (including gross overriding royalties, net profit interests, cash and in-kind royalties);an explanation of the economic underpinning of royalty agreements;the content and effect of key royalty agreement provisions; andadditional provisions which can be found in royalty agreements. It will be an invaluable guide to legal, commercial and financial professionals engaged in petroleum project financing, development and divestment.

Broken into a series of direct and insightful articles from a broad range of legal and financial experts in the private client sphere, the guide outlines the most important legislative and case law developments and considers their practical impact. Articles also address some of some tricky and related areas that private client solicitors should know about, such as investment strategies, farming law, and litigation.

How can knowledge management (KM) help your firm exceed your clients' expectations and differentiate you from your closest competitors? This guide written by senior figures in legal KM in the US and UK will show how you can achieve this and more, drawing upon case studies from some of the most innovative firms using KM to their advantage. KM is helping law firms adapt to an evolving legal landscape. Increasingly, firms like yours are seeing knowledge management and its potential as an "e;organisational capability"e; for leveraging the firm's experience, data and intellectual capital as a strategic resource. Many firms have a KM function in place. But has this function evolved to become a key business unit recognised by the rest of the firm, focused on achieving business outcomes measurable goals important to a firm's overall success? Perhaps you're finding it challenging persuading your fee earners to spare billable time to embed knowledge into your firm's systems, to the overall benefit of your firm. Or perhaps you're having trouble proving ROI on certain initiatives. Whatever the KM challenge you're facing, Law Firm KM: Driving Practice Innovation and Redefining Service Delivery will help you solve key challenges and ensure you can take advantage of opportunities that arise after using KM as a strategic tool. Written by some of the best minds in legal and business consulting, this guide is split into two sections: *Part One examines how KM professionals can support law firm and in-house needs, while considering some of the challenges they face. *Part Two is made up of practical guidance in the form of case studies from UK and US law firms who are trailblazing in legal KM and who have integrated vital KM principles into their overall firm strategy. In today's evolving competitive market, firms must be looking to not only please their clients, but to find ways that go beyond the level of service they expect. More and more firms are turning to KM to help them do this. Are you? Why buy this guide? *Read case studies from firms who are actively integrating KM principles into their firm strategy with success, so you can understand how this is done in practice *Gain insight on how to use KM to inform new service models and pricing structure, innovation and efficiency to please your clients and exceed their expectations of your firm *Discover how to measure the success of KM strategy to prove ROI and make it easy for your firm to invest in future KM initiatives *Learn how to embed KM within your firm's culture to ensure stress-free adoption and adaptation. Hear from firms trailblazing in the KM space including: *Littler Mendelson *BLM *Donelson, Bearman, Caldwell & Berkowitz *Samuel Phillips Law Firm You'll love this guide if you're a... *Knowledge management officer *Information officer *Professional Support Lawyer (PSL) *Managing partner *C-suite professional, looking for new strategic inspiration *Head of Department/Practice Group *Partner

Time is a lawyer's commodity. Or rather, it is how most lawyers quantify their expertise. How successful you are as a lawyer depends fundamentally on how you use your time and there is a direct correlation between how much value you can extract from your time and your profitability. Most lawyers must record how they spend their time on a daily basis and regularly have to justify their use of time to clients, the court, or their employers. Managing Partner's new report entitled Making Every Six Minutes Count explains why lawyers should look more objectively at how they spend their time and how principles of time management can make an enormous difference in a profession which is now at its most stressful and intensive. The more efficiently and effectively you use your time, the more successful your practice will be.Topics Covered in this report include: - Defining time management and in turn self-management; - Why time management is a small investment for a big return; - Effective working environments and how they are conducive to better time management; - Streamlining office functions to enable more focus on critical work; - Efficient planning of working hours; - The differences between 'time management' and 'time leadership;' - Prioritizing tasks and dealing with overwhelm; - Delegation as the single most effective way to instantly get more time; - Practical tips on how to recognize and overcome procrastination habits; - The impact of communication and managing interruptions; - Work life balance and why it is so elusive for lawyers; - Managing clients more proactively to provide a more efficient and effective service; - Finding time for business development and networking; - Stress Management for Lawyers; and - The impact of time management on personal development and career planning. The report also features real- life accounts of the key challenges faced by a range of lawyers - from trainees to managing partners, and from sole practitioners to in-house legal advisors - providing you with insight into the common pitfalls and successes of those who have mastered time management and are currently using it to their advantage.

Obtaining an accurate and comprehensive overview of performance throughout the firm is no easy undertaking - there are numerous aspects of the firm to inspect and many varying streams of information to consider. From individual partner performance to firm-wide cash flow, correctly measuring and managing performance involves a keen eye on both the micro and macro aspects of the firm. Measuring and Managing Performance for Law Firms offers an overview of the measurement and metrics that firms can employ to effectively manage their work force and firm-wide performance. Discussing a range of topics from metrics that stimulate innovative thinking, effectively managing high-performance teams and dealing with stress in the work place, and implementing "e;balanced scorecards"e; and "e;opportunity scoring assessments"e; to track firm performance and effectively utilize internal information resources.

Successfully managing a change initiative is no simple feat, regardless of the size of the firm - distilling the process of change into a workforce takes careful planning and support. Change is stressful and difficult for people to process and accept, as we often cling to what we know. This is especially true of lawyers, who are notoriously averse to change. However, the legal sector has begun to rapidly transform - and the firms that don't change with it are going to struggle to stay relevant. In these turbulent times for firms, change initiatives must be properly managed to ensure the whole firm can successfully shift to the new norm and stick to it. Without the proper support and management, a firm runs the risks of alienating their workforce - who will not take well to sudden and imposed change. Managing Legal Change Initiatives looks to illustrate the best methods of introducing and managing change in a sector that is known for being adverse to it. The book highlights the critical obstacles and pitfalls that law firms will face during transitional periods, and outlines some of the best methods of approaching organizational change; from building a change framework to follow, to encouraging a shift in partner behavior through the compensation strategy. This new book also explores why change is so difficult for individuals - with discussion of the neuroscience behind change, and the role of emotional intelligence in leaders to help garner a transformation. With the disruptions to legal services predicted to continue for some time, it will be those firms who adapt, put into place, and act upon a change management strategy that will be the ones capitalize on changes to come.

The legal sector is facing a period of major metamorphosis - disruptors are making waves in the structuring, process, and service-delivery models, and client's needs are becoming more demanding and value-focused. As the landscape of law transforms many firms will be left facing a situation of, in John Alber's words, change or die. How will law firms keep up with upcoming rapid and volatile changes to the legal sector, and what form will they take after the transformation? What will the law firm of the future be like, and what can firms do today to ensure they are properly future proofed? Lawscape 2025: Defining the law firm of tomorrow is an exploration of the biggest innovations, strategies, and disruptors that are set to change the face of legal practice. Featuring leading industry experts weighing in on topics such as future firm structures and leadership strategies, revolutionised compensation measures, and the growing prevalence of big data, analytics, and artificial intelligence, this title will serve as a trusty manual on surviving the changing landscape of the legal world.

As law firms continually push to stay relevant in the information age, certain functions and roles will change drastically - possibly none more so than a firm's information functions and librarians. Information services are now more important than ever, and are more closely linked and integrated with all other functions of the firm. This means, however, that many information departments and roles will need to undergo a considerable metamorphosis in order to realise their full potential. From integration with other functions of the firm (such as Business Development and Knowledge Management), to gathering intelligence to leverage a competitive advantage - library teams, with the correct application, are set to become critical in forging a firm's digital pathway to increased success.

Commentators have argued for many years that law firms need to move forward from their traditional, seniority-based compensation systems. But it's not enough to simply add performance-related elements at the edges of these. Shifting generational-based attitudes; changing career aspirations; increasingly demanding clients; and pricing innovation and development in the range of benefits that can be offered (both financial and non-financial) all conspire to urge firms to rethink how their compensation system operates at all levels, across the whole firm. By reviewing these emerging factors, Compensation Innovation: An in-depth exploration into the future of law firm compensation aims to inspire law firms towards future proofing their compensation systems so that they continue to deliver results as their partnerships age. Exploring also the interplay between compensation and succession planning, and compensation and lateral hiring, the authors keep one eye to the future.

The lack of women in power positions represents a poor return on investment for law firms, and could be costing them far more than they think in both economic and cultural terms. Quite aside from the widely accepted understanding that more diverse teams perform better, research shows that it actually costs more and takes longer to replace female partners than their male colleagues. Moreover, the scarcity of women mentors could be having a long-lasting effect on up-and-coming female associates. The problem is far from new but law firms' usual answers - business development training, diversity programs, investment in "e;women's initiatives"e; - doesn't seem to be having much of an effect, despite the collective millions firms are spending on these. The numbers of women attaining power positions in law firms have remained static for decades. By contrast, the percentage of women holding GC positions in Fortune 500 companies is growing, and women are increasingly likely to be found in in-house roles. Packed with fascinating insight, experience, and research from a broad range of lawyers, coaches, academics, thought leaders, and consultants, Beyond Bias: Unleashing the Potential of Women in Law considers just how much firms are costing themselves by failing to promote and retain talented women, the reasons their efforts have so far seen so little return, and the practical steps they can take to start to move the needle. We'll also consider what women can do more of to create and seize opportunities, claim credit where it's due, and get the most out of their business development efforts, wherever they practice. "e;Beyond Bias redresses some ancient wrongs with practical observations although who can say where we are going and where we will end up: the book is a major start on this new road so do read it soon."e; review by Elizabeth Taylor of Richmond Green Chambers and Phillip Taylor MBE, Head of Chambers and Reviews Editor, "e;The Barrister"e;. See the full review here.

Client experience (CX) is by no means a new concept. Ever since the service industry came into being, providing excellent customer service has been a key concern, with particular focus on how the client experiences the service they are receiving. Yet, client experience is rarely delivered well. Inconsistencies, errors, and an endlessly unanswered phone lead to frustration on the part of the client, and a feeling that they are worth little more than a signature on the monthly timesheet. So, how do law firms, and individual lawyers, ensure they exceed expectations, and deliver the best customer experience possible? And what benefits - tangible and intangible - does this bring? Innovations in Client Experience brings together a collection of global contributors, giving their thoughts and advice on how the legal profession can up its game in client experience, offering innovative strategies and pragmatic advice to those law firms concerned they need to improve their CX.

Recent years have witnessed growing concern internationally in wellbeing and mental health across the legal community, a shift reflected in a host of initiatives, networks, reports and research studies. Changes to working patterns, generational shifts, and an increased interest in overall wellbeing have contributed to a growing movement towards better working practices - across all industries but particularly in high pressure professions such as law. The genesis of the lawyer wellbeing movement in the United States has spread to the UK, EU, Canada and Australia. In this opening chapter, Bree Buchanan, chair of the ABA Commission, covers the 2016 research regarding lawyer and law student impairment that served as the catalyst for creating the National Task Force on Lawyer Wellbeing. From this coalition of national organizations came the 2017 Report, which in turn launched a wide variety of national and state policy and practice innovations. Bree summarizes a snapshot of those developments.

Why this report, why now? We began 2020 in bright spirits and bountiful economic conditions; by early March all that had changed. Economic adjustments were made and, overall, firms ended the year in much better shape than their spring worst-case projections anticipated. Some firms were even close to their original 2020 profit expectations to date - largely due to quick actions to curtail expenditures as COVID-19 got underway in the US. Adjusting the Numbers: The Future of Finance in Law Firms looks back at a year like no other in our lifetimes, highlighting pricing, budgeting, strategic planning and people management principles, and identifying good compensation practices that can be applied during the pandemic, its gradual cessation, and beyond. Unique selling points:First title to look at financial performance post-COVID, focusing on pricing, compensation, financing, KPIs and partner management.

We will begin this inquiry into innovating to "e;future-proof"e; our practices, not with the question of how to innovate, but rather with why we should concern ourselves with innovation. Because if we don't get the why right, none of the rest of our work on innovation will matter. We will move on from the question of why innovate to the business context in which all innovation occurs in this age. We won't dwell on the changes in the legal market already amply covered in the legal press-flat demand, plummeting realization, pressure to price differently, etc. Instead, we'll explore the broader business climate and technological context in which all practice will operate in the future. Our starting point will be to explore how profoundly dissatisfied our clients have become with traditional law firm service levels. As cordial as those clients may be over lunch or a round of golf, when truly pressed, most will admit to real frustration with how glacial the pace of change is inside law firms. Next, we'll move to a technology focus. This concerns radical shifts in our society that will reshape how we do everything...including law. Technology already in the pipeline will cause breathtaking transformations in our business and personal lives, whether we innovate or not. Changes wrought by this technology will exceed our imagination's ability to foresee them, will exceed even the ability of our best futurists to predict what will happen. We will then explore the competitive environment in which Midsize firms will be operating over the near and medium terms. Already, huge shifts in the economics of practice have taken place-largely driven by competitors from outside the traditional legal sector. In order to prepare to meet such emerging competition, you need to understand it. Next, we will talk about the skill deficits you have to remedy to compete in an age that expects Amazons and Ubers. We can argue about whether law school training properly equips young lawyers for substantive law practice. But there can be no argument about whether young lawyers emerge into practice equipped to manage the business of law-even the basics of it. They clearly do not. And most lawyers leave themselves in that state throughout their careers. From there, we will explore particular skills in more depth. In separate chapters, we will talk about: - Developing a baseline of service design skills using Design Thinking resources that are now available to lawyers, - Building a profit model and other business metrics capabilities that are essential as a means of measuring the efficacy of our innovation efforts, - Adding project management skills to firms to enhance our ability to manage both the everyday complexities of practice, as well as to carry off ambitious innovation initiatives, - Learning how to deconstruct and rebuild business processes so as to remove cost and add efficiency. This is the area in which our clients are most interested in seeing us innovate. Maybe we should cultivate those skills. For all the gloomy predictions about rising competition and increasing price pressure that you'll find in the pages that follow, I hope you emerge from this study with a sense of optimism. I'm not the only student of this portion of the legal sector to see the opportunities in store for firms that seek to become change leaders.

The pricing of legal services is no longer simply about setting rates. Properly optimizing a firm's pricing strategy is a critical source of competitive advantage and increased profitability, which now more than ever is crucial to staying relevant in the legal sector. Firms must start looking to demonstrate their ability to provide clients with greater value through alternative fee arrangements, effectively controlled budgeting methods, and the integration of innovative firm management practices - whilst continuing to operate as a profitable business. Standard business principles have become the norm for firms - as clients become increasingly proficient in negotiating costs and defining the scope of engagement, service delivery must now be framed by value, expertise, and profitability rather than hours billed alone. With contributions from pricing directors and expert consultants, Practical Innovations in Legal Pricing offers insight into newest effective approaches to pricing that top firms are undertaking. Taking an in-depth look at the role of shadow-billing and client collaboration in AFAs, integrating a firm's legal project management and pricing functions for greater client benefits, and effectively executing a newly formed pricing strategy, this title will provide a comprehensive overview of the best practices in innovative pricing functions.