Partner Bloodbaths Ahead? Wary of Collection Numbers? Deal With It
Rumors of partner bloodbaths and wariness about the upcoming collections season are bound to send chills up lawyers’ spines.
But the American Lawyer suggests it is time to “embrace the suck,” a military term that means the situation is bad—so deal with it.
“What’s unclear is whether firms are, well, embracing the suck,” the article says. “Are they using this period to analyze their work flow and staffing, and then seek ways to do their work differently, more efficiently, and just as profitably? Or, are they begrudging, and counting the months until a robust sellers’ market returns?”
The article lists seven decisions that have been made by many of the best-run law firms during the economic downturn. They include: What is the best model of associate compensation for your law firm? How can technology help streamline rote work? How can nonlegal professionals and marketing officers help run and promote your law firm?
“Changing your talent model or redesigning your work flow just won’t happen because you have a committee report,” the story says. “Better, then, to bring on nonlawyer managers and get out of their way.”
