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Diversity is Now Hitting the Bottom Line at Law Firms

Date January 20, 2006 Comment Comments Off on Diversity is Now Hitting the Bottom Line at Law Firms

A partner and the director of professional development and diversity at Day Berry & Howard provide some tips on how to increase diversity.

Resisting the Temptation to Lower Your Fees

Date January 18, 2006 Comment Comments Off on Resisting the Temptation to Lower Your Fees

What should you do when a client says your hourly rate is too expensive? hint: Resist the knee jerk reaction to acquiesce. Here are some suggestion for how to get the client to see your value.

A Blog on Marketing

Date January 18, 2006 Comment Comments Off on A Blog on Marketing

Looks like some good marketing advice including today’s post on Paul Clifford’s talk for the LMA of New England.

Arnold & Porter Embrace Coaching

Date January 17, 2006 Comment Comments Off on Arnold & Porter Embrace Coaching

My colleague, Dan Binstock, writes about use of coaching at Arnold & Porter in D.C. Clearly, we have a national trend here. I agree with Dan. Firms that take this approach seriously will be rewarded with better associate retention and more success in the lateral hiring market place.

Coaching Continues to Thrive in Law Firms

Date January 13, 2006 Comment Comments Off on Coaching Continues to Thrive in Law Firms

California reports that a growing number of law firms are turning to both internal and external coaches to help lawyers learn business development skills, client relations skills and management skills.

The article leaves out a parallel trend (i.e. that some lawyers do not want their firms to know they are working with a coach and are hiring coaches directly.) Also, while the firm sometimes pays for the coach and the individual pays at other times, there are also blended models (kind of like insurance co-pays to make sure that the end user is personally invested in the activity.)

Salary Hikes Spread to Atlanta

Date January 12, 2006 Comment Comments Off on Salary Hikes Spread to Atlanta

The national trend at large firms has now spread to Atlanta where starting associate salaries are now $115K at some firms.

Do it Yourself Recruiting?

Date January 11, 2006 Comment Comments Off on Do it Yourself Recruiting?

It is hard to imagine how this partner makes any money for his firm if he spends so much of his time recruiting candidates. Clearly, he is not factoring in the lost billable hours into his expenses.

Associate Attrition–Bad Management or Business Necessity?

Date January 9, 2006 Comment Comments Off on Associate Attrition–Bad Management or Business Necessity?

CareerJournal explores the ongoing issue of associate retention. Citing last year’s NALP study which found that 37% of associates are gone after three years in practice, the article questions whether this is a sound business result for law firms (after all, associates don’t really become profitable until after their third year in practice.)

No particular solutions are offered; but better management practices seems to be the recommendation. Should firms blame recruiters for causing the attrition? Not according to David Maister, the management guru cited in the article.

Predictions for 2006 and What they Mean

Date January 8, 2006 Comment Comments Off on Predictions for 2006 and What they Mean

The Legal Times has offered some predictions for 2006: Mergers mania will continue and New York and DC will remain very important markets for firms trying to create a national footprint; salaries will continue to increase as competition for hot talent heats up; billing rates will start to flatten out as corporation try to reign in costs; firms will look for ways to control their own costs; and client relations will be more important than ever as companies consolidate the number of firms they use.

So what are the career implications? Make sure to cultivate relationships outside your firm. Developing your own clients is the only career protection you can count on.

How to Deliver Bad News

Date January 5, 2006 Comment Comments Off on How to Deliver Bad News

CareerJournal.Com offers some interesting ideas.