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<?xml-stylesheet type="text/xsl" href="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/utility/FeedStylesheets/rss.xsl" media="screen"?><rss version="2.0" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:wfw="http://wellformedweb.org/CommentAPI/"><channel><title>Make More Rain : hr, productivity</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/hr/productivity/default.aspx</link><description>Tags: hr, productivity</description><dc:language>en</dc:language><generator>CommunityServer 2008.5 SP1 (Debug Build: 31031.3054)</generator><item><title>A Full Time Law Firm CEO Comes First</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/18/a-full-time-law-firm-ceo-comes-first.aspx</link><pubDate>Tue, 18 Dec 2007 20:04:19 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11421</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11421</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/18/a-full-time-law-firm-ceo-comes-first.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;Mark Beese, who hosts the blog &lt;a href="http://leadershipforlawyers.typepad.com/leadership_for_lawyers/2007/08/attorney-retent.html" style="color:blue;text-decoration:underline;" target="_blank"&gt;Leadership for Lawyers&lt;/a&gt;, wrote &amp;ldquo;&lt;strong&gt;&amp;hellip;.mid-sized firms are hiring professional development directors to provide training and support to attorneys&lt;/strong&gt;.&amp;rdquo;  He based his remarks on an article appearing in the National Law Journal.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;It is a good idea except for the chicken for the egg issue. Some midrange law firms appear to be compensating for their lack of a full time CEO or COO by adding a host of specialists to address under-managed areas in crisis.  This proves the adage &amp;ldquo;it only cost a little more to go second class&amp;rdquo;.  As a firm grows in size, it needs C level executives heading functional areas like Technology, Marketing, Training &amp;amp; Development, and other important functional areas.  However, you can&amp;rsquo;t start there.  First you need the head, then the arms and finally the legs.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Law firms would do well to make the first move to a full time CEO before going to the next level of management.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;/span&gt;&lt;/em&gt;&lt;a href="mailto:info@juris.com" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;info@juris.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; or go to &lt;/span&gt;&lt;/em&gt;&lt;a target="_blank" href="http://www.juris.com/" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;www.Juris.com.&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11421" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Firm+Culture/default.aspx">Firm Culture</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Forecasting/default.aspx">Forecasting</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>NY Judge Laments &amp;quot;Economic Focus&amp;quot; of Law Practice</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/17/ny-judge-laments-amp-quot-economic-focus-amp-quot-of-law-practice.aspx</link><pubDate>Mon, 17 Dec 2007 14:00:00 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11422</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11422</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/17/ny-judge-laments-amp-quot-economic-focus-amp-quot-of-law-practice.aspx#comments</comments><description>&lt;p&gt;&lt;em&gt;The Wall Street Journal &lt;/em&gt;&lt;a href="http://blogs.wsj.com/law/" target="_blank"&gt;&lt;em&gt;Law Blog&lt;/em&gt;&lt;/a&gt; quotes New York federal judge Harold Baer in a &lt;a href="http://blogs.wsj.com/law/2007/11/30/has-the-legal-profession-gone-the-way-of-the-dodo/" target="_blank"&gt;post on November 30th&lt;/a&gt;, who in an opinion over a violation of a protective order, stepped out and decided to take the opportunity to voice his opinion on the state of the legal profession.  Judge Baer particularly took issue with lawyers&amp;#39; &amp;quot;economic focus of the market place . . . infiltrat[ing] the practice of law, subordinating the high standards of service, collegiality and professionalism as a result.&amp;quot;&lt;/p&gt;
&lt;p&gt;He goes on:&lt;/p&gt;
&lt;p&gt;&lt;em&gt;&amp;quot;[P]artners are at times made and retained for their rainmaking skills and not for their legal skill, that the number of billable hours is not only the alpha and omega of bonuses but that these hours &amp;mdash; or at least the ones that count &amp;mdash; often exclude pro bono hours, or that who gets credit for originating a piece of business can throw a firm into turmoil and prompt internecine struggles, or that the bottom line has eclipsed most everything else for which the practice of law stands or stood to the extent that the practice of law is now frequently described as a business rather than a profession.&amp;quot;&lt;/em&gt;&lt;/p&gt;
&lt;p&gt;The judge certainly wouldn&amp;#39;t like the news from San Francisco, where the firms Howard, Rice, Nemerovski, Canady, Falk &amp;amp; Rabkin and Heller Erhman are &lt;a href="http://www.law.com/jsp/nlj/PubArticleNLJ.jsp?id=1196725629232" target="_blank"&gt;trimming their support staffs&lt;/a&gt; due to economic concerns.&lt;/p&gt;
&lt;p&gt;You can surmise that the point the judge is making relates to making the business more of a priority than the practice (ie, using your practice to shield a &lt;a href="http://www.patenthawk.com/blog/2007/12/patent_blog_troll.html" target="_blank"&gt;patent troll &lt;/a&gt;business).  However, I can&amp;#39;t help but wonder if the judge is lamenting the loss of the bartering system and the handshake agreement as legal tools for payment and contract as well.  He suggests that a &amp;quot;focus on the marketplace&amp;quot; is incompatible with a professional practice.   I believe the criticism is unwarranted.&lt;/p&gt;
&lt;p&gt;I agree with the judge to the extent that the lack of focus on client needs over firm policies hurts the profession (ie, &lt;a href="http://www.morepartnerincome.net/2007/11/28/irony-incent-and-the-case-for-contemporaneous-timekeeping-by-attorneys/"&gt;threatening to discontinue direct deposit if billable hours not recorded within time frame&lt;/a&gt;).  Perhaps there are some firms who do not allow or encourage pro bono work, but the vast majority of firms actively provide free legal services and encourage it for their associates.  However, a firm cannot base its financial model on providing free services.  The judge assumes both are incompatible, as if running a firm like a business necessarily means that attorneys cede their status as professionals.  Judge Baer all but states this in his quote,  &amp;quot;[a] profession is not a business&amp;quot;.&lt;/p&gt;
&lt;p&gt;Does the judge think that law is the only profession?  Does he assume doctors are not professionals because they choose not to work with an insurance company and thus limit the choice of patients, based on a (gasp) business decision that the insurance company is not favorable to the business needs of the doctor&amp;#39;s practice?&lt;/p&gt;
&lt;p&gt;Further, assuming that the &amp;quot;high standards of service, collegiality and professionalism&amp;quot; are subordinated solely based on things such as providing credit for bringing in new business, requiring that attorneys place a value on their work performed, and looking at revenue numbers makes the judge look antiquated and na&amp;iuml;ve.&lt;/p&gt;
&lt;p&gt;By his quote that &amp;quot;[a] profession is not a business&amp;quot; judge Baer places a line in the sand in a way not so different than an owner of a steam locomotive might relative to the impracticalities of building a freeway system to support vehicles powered by internal combustion engines.   If &amp;quot;economic focus&amp;quot; is truly his lament, there&amp;#39;s a better way to make his point.  Mark Herrmann, in his book &lt;span style="font-style:italic;"&gt;&lt;a href="http://www.abanet.org/abastore/index.cfm?section=main&amp;amp;fm=Product.AddToCart&amp;amp;pid=5310356" target="_blank"&gt;The Curmudgeon&amp;#39;s Guide to Practicing Law&lt;/a&gt;&lt;/span&gt; (ABA Publishing, 2006), addresses the associate who asks &amp;quot;They want me to bill a lot of hours, so why not?&amp;quot;  To the curmudgeon, billing time is compared to an unwilling child taking piano lessons:  if you are focusing on the time rather than the objective, then you may as well not participate in the activity at all.&lt;/p&gt;
&lt;p style="margin-left:40px;"&gt;&lt;span style="font-style:italic;"&gt;If you do good work, you&amp;#39;ll always have plenty to do; &amp;quot;billing hours&amp;quot; will be irrelevant.  If you ever feel the need to bill long hours, then please find another law firm to employ you.  Your only obligation at this firm is to pursue the client&amp;#39;s cause; &amp;quot;billing hours&amp;quot; is not on the agenda.&lt;/span&gt; (Herrmann 14-15)&lt;/p&gt;
&lt;p&gt;Attorneys who focus on the needs of the client realize that recording your time is a chore (a necessary chore) secondary to the act of practicing law.  From a management standpoint, it is imperative that the habit of recording your time is automatic; from a practicing standpoint, it is the way to &amp;quot;approximate, however crudely, the value given to each client&amp;quot; and &amp;quot;know who is busy and who is available to work on new projects.&amp;quot; (Herrmann 15)&lt;/p&gt;
&lt;p&gt;For anyone who hasn&amp;#39;t already read this book, I highly recommend it.  Although I suspect that most attorneys who have have been in private practice for more than 10 years will already be familiar with its tenets.  The judge &lt;a href="http://en.wikipedia.org/wiki/Harold_Baer,_Jr." target="_blank"&gt;doesn&amp;#39;t qualify&lt;/a&gt; (although he does have a stellar career as a public servant) and that may explain the generalization.&lt;/p&gt;
&lt;p&gt;It is the responsibility of the equity partners (ie, owners) to ensure that the firm survives and its non-equity attorneys and support staff are paid.  That means making decisions to retain talent, reward marketing efforts, and pay attention to the firm&amp;#39;s finances.  Now, if the judge is advocating that law firms not be held to the same standards as other businesses (ie, no payroll taxes, benefit requirements, compliance with other federal and state employment laws, etc) then perhaps his criticism may have some merit.&lt;/p&gt;
&lt;p&gt;Maybe we will see the judge make another manifesto &lt;span style="font-style:italic;"&gt;in opinio&lt;/span&gt;, this time railing against the application of business requirements to law firms.  Otherwise, the judge will appear as a curmudgeon of a different type than Herrmann chronicled: one who is ignorant of the realities of running a business, regardless of profession.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center&lt;br /&gt;
877/377-3740, e-mail &lt;a href="mailto:info@juris.com" title="mailto:info@juris.com"&gt;info@juris.com&lt;/a&gt; or go to &lt;a target="_blank" href="http://www.juris.com/" title="http://www.juris.com/"&gt;www.Juris.com&lt;/a&gt;&lt;a target="_blank" href="http://www.juris.com/" title="http://www.juris.com/"&gt;.&lt;/a&gt;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11422" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Ethics/default.aspx">Ethics</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Firm+Culture/default.aspx">Firm Culture</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Client Loyalty for the Attorney or the Firm?</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/14/client-loyalty-for-the-attorney-or-the-firm.aspx</link><pubDate>Fri, 14 Dec 2007 19:35:00 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11423</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11423</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/14/client-loyalty-for-the-attorney-or-the-firm.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;Some time ago David Maister responded to an inquiry from a reader of his blog, Passion, People and Principles, who raised the question of &lt;a href="http://davidmaister.com/blog/503/Loyalty-to-Whom" style="color:blue;text-decoration:underline;" target="_blank"&gt;Loyalty to Whom?&lt;/a&gt;  How does a law firm secure the loyalty of its clients when, to the client, the face of the firm is the individual attorney?&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Maister&amp;rsquo;s answer is unquestionably sound.  The firm must add value to the relationship.  If the firm as an institution has nothing to offer the client other than the role of the single or primary attorney, then it doesn&amp;rsquo;t deserve the loyalty of the client.  Client loyalty defaults to the attorney.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Those commenting on Maister&amp;rsquo;s post did not all see this issue as a problem.  This, I might add, is the natural position you would expect from the individual attorney who would like to own clients individually.  For law firm leaders and managing partners, it is a strategic problem.  Their role is preservation of the law firm as an institution. In the business incarnation of the legal profession, the individual attorney can earn more and accumulate greater wealth as an owner of a vibrant law firm that delivers value greater than the sum of its lawyers&amp;#39; efforts operating individually.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Therein lies the key, as Maister points out.  The law firm has to deliver value, not merely assign lawyers to a matter or case. Delivering value over and beyond that of the assigned professionals is a key strategic issue.  The drive to add value is at the heart of branding, positioning, proprietary technology, knowledge management, specialization, industry knowledge, the team approach in client relationships, cross selling, referral networks, extranets and other tactics for exhibiting and delivering organizational added value.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Without deliberate efforts (tactics) to add institutional value, clients become the portable property of the responsible attorney.  The law firm become little more than shared office space and shared overhead.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;a href="mailto:info@juris.com" style="color:blue;text-decoration:underline;"&gt;info@juris.com&lt;/a&gt; or go to &lt;a target="_blank" href="http://www.juris.com/" style="color:blue;text-decoration:underline;"&gt;www.Juris.com.&lt;/a&gt;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt 0.5in;"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11423" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Firm+Culture/default.aspx">Firm Culture</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Limited Law Firm Budget Produces a Winning Strategy</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/13/limited-law-firm-budget-produces-a-winning-strategy.aspx</link><pubDate>Thu, 13 Dec 2007 19:26:52 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11424</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11424</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/13/limited-law-firm-budget-produces-a-winning-strategy.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;&lt;a href="http://www.rossfishmanmarketing.com/" style="color:blue;text-decoration:underline;" target="_blank"&gt;Ross Fishman&lt;/a&gt; is a smart marketing guy.  I have mentioned him in several prior posts (for example, the posts &lt;a href="http://www.morepartnerincome.net/2007/09/20/marketing-101-for-law-firms/" style="color:blue;text-decoration:underline;"&gt;Marketing 101&lt;/a&gt; and &lt;a href="http://www.morepartnerincome.net/2007/07/19/getting-agreement-to-change-from-law-firm-partners/" style="color:blue;text-decoration:underline;"&gt;Getting Agreement to Change&lt;/a&gt;).&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Writing for the FrontLines section of the December issue of the &lt;em&gt;Law Practice&lt;/em&gt;, Ross again demonstrates that there is magic in applied Marketing 101.  Working with a 20-lawyer law firm in Salinas, California, Fishman turned a marketing problem into a winning business strategy. The problem was a limited marketing budget.  Ross&amp;rsquo; solution was to narrow the firm&amp;#39;s marketing efforts to a single industry.  In this case, the farming industry, which just happened to be the dominate industry for the area.  All of the local law firms handled some agricultural clients, but no one had ever targeted the industry.  With Fishman&amp;rsquo;s guidance, the Salina law firm did. Fishman turned a limited marketing budget into a winning business strategy&amp;mdash;targeting a narrowly defined delimited market with a strategy to dominate it.   For more on the benefits of such a strategy, see the prior post &lt;a href="http://www.morepartnerincome.net/2006/02/06/importance-of-market-position-for-law-firms/" style="color:blue;text-decoration:underline;"&gt;Importance of Market Position for Law Firms&lt;/a&gt;.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;I don&amp;rsquo;t want to steal all of Fishman&amp;rsquo;s thunder. You can read the case study starting on page 8 of the December issue of &lt;em&gt;Law Practice&lt;/em&gt;.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;/span&gt;&lt;/em&gt;&lt;a href="mailto:info@juris.com" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;info@juris.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; or go to &lt;/span&gt;&lt;/em&gt;&lt;a target="_blank" href="http://www.juris.com/" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;www.Juris.com.&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11424" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Firm+Culture/default.aspx">Firm Culture</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Marketing/default.aspx">Marketing</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Secondments:  A Sound Law Firm Tactic</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/04/secondments-a-sound-law-firm-tactic.aspx</link><pubDate>Tue, 04 Dec 2007 19:37:00 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11431</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11431</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/12/04/secondments-a-sound-law-firm-tactic.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;The terms &amp;lsquo;secondment&amp;rsquo; and &amp;lsquo;secondees&amp;rsquo; aren&amp;rsquo;t used much in the U.S.  Nor is the tactic (by whatever name) used often by midrange law firms.  Secondees are usually young associates who for an intermediate term (several months to a year) are given over to clients as temporary additions to their in-house legal team.  Internationally the practice is more common, especially in the U.K.  It has expanded beyond secondment assignment just for young associations to include senior members of the law firm.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;There are good reasons for the strategy.  First and foremost is the relationship building aspect between the law firm and the client.  Because secondees are usually provided at a bargain price, the client views the arrangement as the law firm making an investment in them.  For midrange firms, a secondment strategy lowers the risk of adding to its legal team. Adding new associates is an expensive undertaking. The cost comes right out of partner profits and many experts believe that it takes as long as three years before the cash flow from the additional associate becomes positive.  The smaller the firm, the greater the relative impact on existing law firm partners.  Having an ongoing secondment program can help finance those additions.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;The relationship with insiders that secondees develop during their tenure with the client will surely prove to be valuable in terms of retention and expansion of the business relationship between the client and the law firm.  And the law firm builds a team with a far greater awareness of service quality concerns of all clients.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;a style="color:blue;text-decoration:underline;" href="mailto:info@juris.com"&gt;info@juris.com&lt;/a&gt; or go to &lt;a style="color:blue;text-decoration:underline;" href="http://www.juris.com/" target="_blank"&gt;www.Juris.com.&lt;/a&gt;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11431" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Compensation/default.aspx">Compensation</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Law+Firm+Bus+Model/default.aspx">Law Firm Bus Model</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Managing Law Firm Professional Development</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/11/02/managing-law-firm-professional-development.aspx</link><pubDate>Fri, 02 Nov 2007 22:21:38 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11452</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11452</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/11/02/managing-law-firm-professional-development.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;The move to hire a C level executive to oversee the professional development, is working its way down from the AmLaw 200 group to smaller law firms.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;In morepartnerincome&amp;rsquo;s opinion, the biggest barrier to an effective professional development program is decentralized scheduling of legal work.  Associates have no control over the work that is assigned to them.  Partners tend to assign work to their favorites, which causes associates to find themselves in a rut doing reparative-style work.  An associate reads the absence of professional development considerations in case assignments as a lack of interest in them. As associates start to feel short-changed, the grass begins to look greener elsewhere. Until law firms have someone with the power to counter the preferences of supervising partners, the associate disappointment over professional development will continue to drive associates away.  Accordingly to NALP, 80% of associates have left their original firm by their fifth year in practice.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;At the same time that firms are beginning to face up to the retention issue many are also dealing with aging baby boomers.  Why not combine these two management issues?  Many firms have retirement age partners who would like to remain actively engaged but without the demanding work schedule of handling client responsibility. Many are willing to do so for same or less than what the law firm would have to pay to hire an outside professional development director.  Combining the two could be a perfect match.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;/span&gt;&lt;/em&gt;&lt;a href="mailto:info@juris.com" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;info@juris.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; or go to &lt;/span&gt;&lt;/em&gt;&lt;a target="_blank" href="http://www.juris.com/" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;www.Juris.com.&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11452" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Marcus Speaks Out On Mandatory Retirement for Lawyers</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/09/04/marcus-speaks-out-on-mandatory-retirement-for-lawyers.aspx</link><pubDate>Tue, 04 Sep 2007 18:01:00 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11496</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11496</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/09/04/marcus-speaks-out-on-mandatory-retirement-for-lawyers.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;Bruce Marcus lays out the case the ABA overlooked in addressing the issue of mandatory retirement.   The ABA delegates voted to encourage firms to discontinue the practice, but as Marcus notes, &amp;rdquo; &amp;hellip;&lt;em&gt;they came up with the lesser solution to the greater problem, which, is, I think, the question of judging a lawyer&amp;rsquo;s capabilities by his or her age, rather than by capability&lt;/em&gt;.&amp;rdquo;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;He then proves his case that older can be (and often is) better.  As he puts it, &amp;ldquo;A &lt;em&gt;stupid lawyer at 30 will be a stupid lawyer at 80. A smart lawyer at 30 will be a smarter one at 80 (which, I&amp;rsquo;ve been told, is the new 39)&lt;/em&gt;.&amp;rdquo;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Being on the other side of 65, I agree with Marcus regarding prospects of improving with age, but there is more than just competence at state here that lead one to ask, if not mandatory retirement, then what?&amp;quot;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Mandatory retirement has been crutch, a mechanism, for achieving the transfer of control and earning from one generation to the next.  That transfer has to happen. As I often say, you will eventually leave.  The question is, do you walk out, run out or get carried out?&lt;/p&gt;
&lt;p class="MsoNormal"&gt;There are two recurring problems, other than professional competence, related to the retirement issue that have to be addressed successfully if a law firm is to have a life of its own. The first problem is the founding or senior partner who is reluctant to give up power and control as the risk grows that illness, disability or death will leave the law firm headless.  The second problem has to do with disproportionate compensation.  It is a frequent problem. Many maturing partners shift their priorities in their life. They began to devote more time to leisure activities and non-firm activities. The problem isn&amp;rsquo;t with the diminishing work load.  The problem arises as the compensation they are pulling out of the firm becomes disproportionate to the aging partner&amp;rsquo;s continuing contribution.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;No question about it, law firms benefit from retaining their most senior talent&amp;mdash;they are often the best rainmaker and there will never be a substitute for experience.  But the peaceful coexistence of generations requires an orderly transfer of power and earnings. For midrange law firms, the lack of continuity planning, of which mandatory or voluntary retirement plans are a part, puts survival of the firm at risk and the disproportionate distribution of income usually leads to a revolt or splintering of the law firm.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Bruce W. Marcus is an author, consultant, and pundit for professional services marketing.  In addition to his books and articles, he shares his insight and wisdom through his blog, &lt;a href="http://themarcusperspective.typepad.com/themarcusperspective/2007/08/they-labored-li.html" style="color:blue;text-decoration:underline;" target="_blank"&gt;THE MARCUS PERSPECTIVE&lt;/a&gt;. His 424-word essay on the ABA mandatory retirement resolution is titled &lt;a href="http://themarcusperspective.typepad.com/themarcusperspective/2007/08/they-labored-li.html" style="color:blue;text-decoration:underline;" target="_blank"&gt;They Labored Like Lions and Produced a Mouse&lt;/a&gt;.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;/span&gt;&lt;/em&gt;&lt;a href="mailto:info@juris.com" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;info@juris.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; or go to &lt;/span&gt;&lt;/em&gt;&lt;a target="_blank" href="http://www.juris.com/" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;www.Juris.com.&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11496" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Partner+Agreements/default.aspx">Partner Agreements</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Planning/default.aspx">Planning</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Spinning Increases Law Firm Income</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/08/31/spinning-increases-law-firm-income.aspx</link><pubDate>Fri, 31 Aug 2007 17:24:00 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11498</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11498</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/08/31/spinning-increases-law-firm-income.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;Allison Wolf&amp;rsquo;s post, &lt;a style="color:blue;text-decoration:underline;" target="_blank" href="http://www.thelawyercoach.com/?p=51"&gt;&lt;em&gt;the fine art of delegation&lt;/em&gt;&lt;/a&gt;, is an insightful interview with &lt;a style="color:blue;text-decoration:underline;" target="_blank" href="http://www.fmc-law.com/People/Pekarsky.aspx"&gt;Adam Pekarsky&lt;/a&gt; about the influence of leverage and delegation on partner income. &amp;ldquo;Spin&amp;rdquo; is the term &lt;a style="color:blue;text-decoration:underline;" target="_blank" href="http://www.fmc-law.com/Home.aspx"&gt;Fraser Milner Casgrain LLP&lt;/a&gt; uses for work ones pushes down in the organization.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;According to Wolf, Pekarsky put it this way: &amp;ldquo;If partners don&amp;rsquo;t delegate the lower level work then it&amp;rsquo;s like driving a formula one race car around a Safeway parking lot.&amp;rdquo;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Too many law firm partners hoard work to the detriment of long term growth in per-partner income. Wolf makes it clear:&lt;/p&gt;
&lt;p class="MsoNormal" style="margin-left:40px;"&gt;A lawyer who spins down the work keeps the most interesting, highly paid work for his/herself.&lt;/p&gt;
&lt;p class="MsoNormal" style="margin-left:40px;"&gt;The lawyer who spins doesn&amp;rsquo;t have to write down bills and gets paid at a higher rate.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Another clear message is that partner compensation should emphasize the sum of partner production and spin.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;I would expand on Wolf&amp;rsquo;s message by adding that a firm&amp;rsquo;s compensation plan is often the reason &lt;a style="color:blue;text-decoration:underline;" href="http://www.morepartnerincome.net/2006/05/30/why-law-partners-hoard-work/"&gt;&lt;em&gt;Why Partners Hoard Work&lt;/em&gt;&lt;/a&gt;. That, in turn, leads to poor leverage, underutilization of associates and high turnover.&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;text-align:center;" align="center"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;. For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;text-align:center;" align="center"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;877/377-3740, e-mail &lt;/span&gt;&lt;/em&gt;&lt;a style="color:blue;text-decoration:underline;" href="mailto:info@juris.com"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;info@juris.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; or go to &lt;/span&gt;&lt;/em&gt;&lt;a style="color:blue;text-decoration:underline;" target="_blank" href="http://www.juris.com/"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;www.Juris.com.&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11498" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Leverage/default.aspx">Leverage</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Planning/default.aspx">Planning</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>If Not Mandatory Retirement for Law Firm Partners, Then What?</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/08/21/if-not-mandatory-retirement-for-law-firm-partners-then-what.aspx</link><pubDate>Tue, 21 Aug 2007 17:33:56 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11506</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11506</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/08/21/if-not-mandatory-retirement-for-law-firm-partners-then-what.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;On August 15, the American Bar Association&amp;rsquo;s House of Delegates voted to encourage law firms to abandon mandatory retirement policies.  The resolution traveled under two flags, the anti- age discrimination flag and the &amp;ldquo;graying of the bar&amp;rdquo; flag.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;With regard to the discrimination issue, &lt;a href="http://www.law.com/jsp/article.jsp?id=1187082122422" style="color:blue;text-decoration:underline;" target="_blank"&gt;Law.Com&lt;/a&gt;  noted that &amp;ldquo;The issue of mandatory retirement has received particular attention because of a lawsuit pending against Sidley Austin. Law firms are anticipating a decision from the U.S. District Court for the Northern District of Illinois in Chicago in an action filed by the Equal Employment Opportunity Commission on behalf of about 30 former partners against Sidley Austin over whether its alleged retirement policy violated age discrimination laws.&amp;rdquo;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;My guess is that this issue&amp;rsquo;s place on the agenda is due to the increased number of delegates and partners in general that are nearing mandatory retirement age.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;From the standpoint of midrange size law firms, the big issue is continuity.  For midrange law firms to have a life beyond that of their current partners, there must be an orderly hand-off from one generation to the other.  Mandatory retirement is one method of forcing that hand-off.  It isn&amp;rsquo;t necessarily the best, but those in power are often reluctant to give it up.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;In an earlier post titled &lt;a href="http://www.morepartnerincome.net/2006/12/14/continuity-or-how-law-firms-acquire-a-life-of-their-own/" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;Continuity or How Law Firms Acquire a Life of Their Own&lt;/em&gt;&lt;/a&gt;, I suggested alternative strategies assuring the hand-off between generations. Without an orderly handoff a law firm fades away or just survives for at least one more generation through an ugly or quiet revolution. We old guys leave one way or another.  It needs to be through a win/win arrangement. Continuity planning is most important to the entrenched partners.  Without planning for the handoff to the next generation, it is the entrenched partners and their heirs who lose the value of the legal service business they built (or improved) during their tenure.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;/span&gt;&lt;/em&gt;&lt;a href="mailto:info@juris.com" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;info@juris.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; or go to &lt;/span&gt;&lt;/em&gt;&lt;a target="_blank" href="http://www.juris.com/" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;www.Juris.com.&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11506" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Marketing/default.aspx">Marketing</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Subscriber+Content/default.aspx">Subscriber Content</category></item><item><title>Who Says Associates Are Miserable?</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/08/13/who-says-associates-are-miserable.aspx</link><pubDate>Mon, 13 Aug 2007 17:40:00 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11513</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11513</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/08/13/who-says-associates-are-miserable.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;Not the &lt;em&gt;American Lawyer&lt;/em&gt;, at least not the publication&amp;rsquo;s August 2007 issue reporting on the most recent survey conducted by the National Association for Law Placement.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;After reading so many stories about the burnout demands being placed on associates, I was as surprised as you probably will be with the survey&amp;rsquo;s finding that associate job satisfaction was 3.81 on a five-point scale. Of course, the key here is that the survey does not focus exclusively on the AmLaw 200 group or the high-pressure firms in cities like New York, so it is a good dose of reality with respect to the law firm community at large.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;There are, however, certain realities confronting law firms.  Most associates entering the practice do not plan on spending their lives in private practice.  Only 22.9 percent anticipate remaining in their firm for five years and only about 12 percent expect to become partners in the current firm.  Another striking statistic is that in half the cases, the law firms appear happy to see the departing associates move on.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Is this really that bad?  One of the great things about earning a law degree and passing the bar is that you are immediately a lawyer. You don&amp;rsquo;t have to spend years working your way up the organizational ladder to become a professional.  That law degree and the time spent in the profession are a spring board for many law school graduates to enter the business world.   It isn&amp;rsquo;t all bad for the law firm.  Smart law firms can take advantage of their relationship with alumni to build and retain business. Granted, law firms also lose associates to lateral hires.  Likewise, some associates leave to create their own law firm.  But even that doesn&amp;rsquo;t have to be adversarial.  Law firms refer business and the law firm that cultivates its alumni relations can be on the winning side of those referrals.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Yes, law firms can look for ways to reduce turnover.  They can improve their selection process.  But in large measure, law firms have to accept the fact that not all associates plan to make a career of it. Laws firms need practices in place to make the best of that reality.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;/span&gt;&lt;/em&gt;&lt;a href="mailto:info@juris.com" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;info@juris.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; or go to &lt;/span&gt;&lt;/em&gt;&lt;a target="_blank" href="http://www.juris.com/" style="color:blue;text-decoration:underline;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;www.Juris.com.&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11513" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Compensation/default.aspx">Compensation</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Marketing/default.aspx">Marketing</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Lawyer Mothers</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/08/10/lawyer-mothers.aspx</link><pubDate>Fri, 10 Aug 2007 17:25:41 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11514</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11514</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/08/10/lawyer-mothers.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;The August 2007 &lt;em&gt;California Lawyer&lt;/em&gt; included a lengthy article titled &amp;ldquo;Mothers {IN LAW}&amp;rdquo; by Laura McClure that carried the subtitle &lt;em&gt;A new generation of women is changing the way law firms operate&lt;/em&gt;.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Whenever I write about this subject, I get e-mail reminding me that the work/life balance dilemma is not a gender issue.  When I mention the demand of child rearing, I am reminded that some men now take on that role.  Nevertheless, the importance of this issue has grown with the increase of women in the talent pool.  And regardless of the exceptions, the role of child rearing still falls predominantely on mothers both married and single.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Why is the issue so important for law firm leaders?  It is simple: 50 percent or more of the new lawyers are women.  Somehow, some way, law firms have to discover how to become a friendlier place for mothers.  I do believe that the most profound quote in the article was that of Jennifer Altfeld Landau, a partner in the Los Angeles office of Sidley Austin.  She said, &amp;ldquo;Of course it&amp;rsquo;s possible to have it all.  The secret is that you can&amp;rsquo;t have it all, all of the time&amp;hellip;.&amp;rdquo;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;We are driven by our personal &amp;ldquo;goals&amp;rdquo; and motherhood is on the list, along with other goals, for the majority of women professionals. Within any business, each member of the team has a &amp;ldquo;role&amp;rdquo; to play.  There is a relationship between a person&amp;rsquo;s goals and the role they are expected to perform.  An organization cannot expect people to successfully perform in roles that do not match their goals&amp;mdash;you can&amp;rsquo;t motivate people to succeed in roles inconsistent with their goals without conflict. Likewise, our goals as individuals may not be achievable unless our role in the business is changed.  Roles and goals must be in harmony.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;That harmony between the motherhood goal and the role expected of mothers in the work force is what is missing in most law firms today. To accommodate talented and contributing individuals, management must be willing to vary the &amp;ldquo;roles&amp;rdquo;, the &amp;ldquo;organizational expectations&amp;rdquo;, available to individuals.  It means that &amp;ldquo;work flexibility&amp;rdquo; has to be accompanied by &amp;ldquo;role flexibility.&amp;rdquo;  To provide work hour and workplace flexibility without a matching &amp;ldquo;role&amp;rdquo; is simply a recipe for failure.  It does not mean that the role they can play is any less important or that it is not an important role in the enterprise&amp;rsquo;s pursuit of its objectives.&lt;/p&gt;
&lt;p class="MsoNormal"&gt;Carving out a compatible &amp;ldquo;role&amp;rdquo; is going to be hard for many firms especially midrange firms. Those that do can tap a highly capable segment of the talent pool. Those that don&amp;rsquo;t succeed at carving out such roles will be at a disadvantage when it comes to recruiting young female associates.  For many midrange firms, their best opportunity for tapping this important segment of the talent pool is to be an inviting and attractive place for full-time reentry into the profession as the demands of child rearing diminish with time.&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris&amp;reg;.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p align="center" style="margin:0in 0in 0pt;text-align:center;"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; 877/377-3740, e-mail &lt;a href="mailto:info@juris.com" style="color:blue;text-decoration:underline;"&gt;info@juris.com&lt;/a&gt; or go to &lt;a target="_blank" href="http://www.juris.com/" style="color:blue;text-decoration:underline;"&gt;www.Juris.com.&lt;/a&gt;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;"&gt;&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11514" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Compensation/default.aspx">Compensation</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Marketing/default.aspx">Marketing</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>New Law Firm Associates Can Be Profitable in Year One</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/06/27/new-law-firm-associates-can-be-profitable-in-year-one.aspx</link><pubDate>Wed, 27 Jun 2007 16:40:33 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11546</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11546</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/06/27/new-law-firm-associates-can-be-profitable-in-year-one.aspx#comments</comments><description>&lt;p&gt;I love it when someone fnally says, &amp;ldquo;The Emperor has No Clothes!&amp;rdquo;&lt;/p&gt;
&lt;p&gt;In this case, the emperor is the preponderance of law firm consultants on the speaking circuits of legal community conferences. The frequent refrain is that it takes three to five years before graduate level hires become profitable associates. I admit that I sometimes defer to those arguments, which are based on &amp;ldquo;cash basis&amp;quot; accounting and &amp;quot;full absorption&amp;quot; cost allocation. The full absorption approach is sound in the long term, but for midrange law firms with existing space and capacity to support new hires, it is often invalid when one views the impact of new hires over the immediate next three- to five-year period. As for the cash accounting aspect, new associates can be a drain on cash during the period they are filling their pipeline with uncollected fees. Adding too many too fast can get a law firm into trouble. However, I might add that the fact that law firms have almost a half year of uncollected fees (unbilled or billed but uncollected) is at the heart of that problem. It doesn&amp;rsquo;t have to be that way.&lt;/p&gt;
&lt;p&gt;&lt;a target="_blank" href="http://www.jgiezzi.com/"&gt;John Iezzi, CPA&lt;/a&gt; is the author of &lt;a target="_blank" href="http://www.abanet.org/abastore/index.cfm?section=main&amp;amp;fm=Product.AddToCart&amp;amp;pid=5110493"&gt;Results-Oriented Financial Management: A Guide to Law Firm Financial Performance&lt;/a&gt;, published by the American Bar Association. He knows of what he speaks when he says the emperor has no clothes. Writing in Law Office Management &amp;amp; Administration Report published by &lt;a target="_blank" href="http://www.ioma.com/"&gt;IOMA&lt;/a&gt;, he refutes their claims that associates are unprofitable in their initial years. He notes that it is &amp;ldquo;absolutely ludicrous to think that law firms cannot profit from even the newest associate, assuming the management process occurs properly.&amp;rdquo; He then proceeds to back up his statements with tables and examples.&lt;/p&gt;
&lt;p&gt;If you need to counter the &amp;ldquo;New Associates are Unprofitable&amp;rdquo; argument in your law firm, you might want to contact John Iezzi at &lt;a href="mailto:jgiezzi@iexxigroup.com"&gt;jgiezzi@iexxigroup.com&lt;/a&gt;.&lt;/p&gt;
&lt;p&gt;&lt;i&gt;Morepartnerincome.com is sponsored by Juris, Inc. For information about Juris&amp;reg; products and services for increasing law firm performance and partner income contact Juris National Sales Center: 877/377-3740, e-mail &lt;a href="mailto:info@juris.com%20"&gt;info@juris.com&lt;/a&gt; or go to &lt;a href="http://www.Juris.com"&gt;www.Juris.com&lt;/a&gt;.&lt;/i&gt;&lt;br /&gt;
&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11546" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Compensation/default.aspx">Compensation</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Marketing/default.aspx">Marketing</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Law Firm Leaders Need a New Accounting Method</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/06/26/law-firm-leaders-need-a-new-accounting-method.aspx</link><pubDate>Tue, 26 Jun 2007 17:06:00 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11547</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11547</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/06/26/law-firm-leaders-need-a-new-accounting-method.aspx#comments</comments><description>&lt;p class="MsoNormal"&gt;I cannot imagine running a business using the cash basis of accounting.&amp;nbsp; The off balance sheet treatment of uncollected fees is, in my mind, the culprit behind the five- or six-month pipeline between the time work is done and money gets in the bank.&amp;nbsp; The cash basis of accounting yields a misleading picture about the health of the law firm.&amp;nbsp; For example, you could send everyone on vacation for a month and, from a financial standpoint, revenues and expenses for the month would not even show a dip.&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;With the cash accounting method, what shows up as revenue every month has no relationship to the work done.&amp;nbsp; And on the expense side, law firms can decide to reduce expenses in any month simply by holding payment off until the next month.&amp;nbsp; So one has to ask why the cash method is the predominant one used by midrange law firms.&amp;nbsp; I limited my comment to midrange-size law firms because the AmLaw Firms have moved to corporate-style financials systems.&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;First, the cash method is preferred for tax purposes and most law firms do not have the sophistication in systems and finance staff to report both ways.&amp;nbsp; Applying the accrual method to a law firm is not an exact science.&amp;nbsp; Reserves are needed to reflect the likelihood that a portion of billed fees will not be collected.&amp;nbsp; In other words, you have to estimate what portion will be realized.&amp;nbsp; That step is relatively easy compared to the next step: evaluating the firms &amp;ldquo;inventory&amp;rdquo; or work in process.&amp;nbsp; It is hard work, but making judgments and estimates is an essential part of the management process.&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;I firmly believe that the cash method is taking money out of the pockets of partners, and I know from experience that many firms who ran out of cash never saw the train wreck coming. Cash accounting is a backward-looking measure that has no relevance to where the firm is or what is ahead for it. &amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;There is a management concept called the &amp;ldquo;No Cost Consultant&amp;rdquo;.&amp;nbsp; It conveys the idea that if the benefit resulting from the consultant&amp;#39;s advice offsets the cost of using the consultant, consultants are a free &amp;ldquo;resource&amp;rdquo;.&amp;nbsp; The notion being conveyed is that when you are headed into something material where you lack the prerequisite &amp;ldquo;know-how&amp;rdquo;, you should not hesitate to engage someone who does.&amp;nbsp;&amp;nbsp; That same concept applies to financial management in the law firm.&amp;nbsp; The cost of upgrading your accounting resources with a qualified controller or C level financial manager is likely to be &amp;ldquo;free&amp;rdquo;&amp;mdash;the added cost will be more than offset by the resulting improvement in financial performance.&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal"&gt;The consulting community repeats a consistent refrain&amp;mdash;law firms would benefit from increased management.&amp;nbsp; Most midrange law firms have a leader.&amp;nbsp; What most of those leaders need is someone with the financial know-how needed to put the firm&amp;rsquo;s workflow and management information on a corporate level.&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal" style="margin-right:-9pt;text-align:center;" align="center"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;text-align:center;" align="center"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris, Inc.&amp;nbsp; For information about Juris&amp;reg; products and services for increasing law firm performance and partner income contact Juris National Sales Center:&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;
&lt;p style="margin:0in 0in 0pt;text-align:center;" align="center"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;&amp;nbsp;877/377-3740, e-mail &lt;/span&gt;&lt;/em&gt;&lt;a style="color:blue;text-decoration:underline;text-underline:single;" href="mailto:info@juris.com"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;info@juris.com&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt; or go to &lt;/span&gt;&lt;/em&gt;&lt;a style="color:blue;text-decoration:underline;text-underline:single;" target="_blank" href="http://www.juris.com/"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;www.Juris.com.&lt;/span&gt;&lt;/em&gt;&lt;/a&gt;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11547" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Compensation/default.aspx">Compensation</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Marketing/default.aspx">Marketing</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Lateral Hiring by Law Firms Fill The Gap</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/06/19/lateral-hiring-by-law-firms-fill-the-gap.aspx</link><pubDate>Tue, 19 Jun 2007 17:33:00 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11552</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11552</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/06/19/lateral-hiring-by-law-firms-fill-the-gap.aspx#comments</comments><description>&lt;p&gt;Lateral recruiting is only going to increase as a tactic for replenishing and building the professional ranks of midrange law firms.&lt;/p&gt;
&lt;p&gt;Midrange firms are increasingly questioning the economics of the graduate approach, especially when you consider the time and investment required to recruit at the law school level. Midrange firms can&amp;rsquo;t compete on an equal economic footing with Big Law when it comes to the top 10 percent of law school graduates. And they really don&amp;rsquo;t have an effective way to gauge the future success prospects of available graduates. Without practice experience and the emotional and business development that comes with on-the-job training, new graduates are just warm bodies. A number of experts indicate that it takes about three years before a firm has fully recovered its cumulative investment in an associate hired directly out of law school. It takes two to five more years before these professionals become strategic building blocks for the firm&amp;rsquo;s future. Yet, the new graduate approach has a high turnover track record!&lt;/p&gt;
&lt;p&gt;On the other hand, laterals have a track record that partners feel like they can get their hands around. They can understand it. They can make judgments about it. And they expect laterals to be positive cash generators as soon as the pipeline (work in process and fees receivable) can be filled. Laterals can be hired to fill specific needs&amp;mdash;geographic, practice areas, specialized expertise, etc.&lt;/p&gt;
&lt;p&gt;Midrange firms are waking up to the succession issues they face and to what is increasingly referred to as the &amp;quot;gap&amp;quot;. Firm leaders and rainmakers are bunched together in the age range of 56 to 70. Their younger attorneys tend to be under 39. The gap refers to the missing 40 to 55 age group. That is the prime age for rainmaking and transition into leadership roles.&lt;/p&gt;
&lt;p&gt;Lateral hiring or merger is the only way an increasing number of firms have to solve the gap problem.&lt;/p&gt;
&lt;p&gt;In a recent presentation &lt;a target="_blank" href="http://www.altmanweil.com/index.cfm/fa/p.people_detail/oid/914d42f5-f473-40b1-b344-61e5b883daec/person/Marci_M_Krufka.cfm"&gt;Marci Krufta&lt;/a&gt; with Altman Weil pointed out that many of the candidates for law firms on the hunt for lateral hires are stars in their existing law firms. But they don&amp;rsquo;t feel they are being treated fairly for their contribution. That is often a product of their existing law firm&amp;rsquo;s compensation formula that overcompensates less productive senior members through &amp;ldquo;origination&amp;quot; credits. While it isn&amp;rsquo;t all about the money, attracting and retaining laterals is all about fairness and compensating professionals based on relative contribution. Law firms that provide lifetime origination credit or that shoulder significant unfunded obligations to partners nearing retirement will find these stars beyond their reach.&lt;/p&gt;
&lt;p&gt;In his post on Adam Smith, Esq. titled &lt;a target="_blank" href="http://www.bmacewen.com/blog/archives/2007/05/recruiting_warlords_or_pa.html"&gt;Are You Recruiting Warlords or Partners?,&lt;/a&gt; Bruce MacEwen writes one of the most insightful essays on lateral hiring I have ever read. If you are hiring to fill the gap, take Bruce&amp;rsquo;s advice. Hire the person not their portable book, and don&amp;rsquo;t expect them to hit the ground running.&lt;/p&gt;
&lt;p&gt;&lt;i&gt;Morepartnerincome.com is sponsored by Juris, Inc. For information about Juris&amp;reg; products and services for increasing law firm performance and partner income contact Juris National Sales Center: 877/377-3740, e-mail &lt;a href="mailto:info@juris.com%20"&gt;info@juris.com&lt;/a&gt; or go to &lt;a href="http://www.Juris.com"&gt;www.Juris.com&lt;/a&gt;.&lt;/i&gt;&lt;br /&gt;
&amp;nbsp;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11552" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Compensation/default.aspx">Compensation</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Marketing/default.aspx">Marketing</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category></item><item><title>Media and Communication Training Increases Law Firm Income</title><link>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/04/03/media-and-communication-training-increases-law-firm-income.aspx</link><pubDate>Tue, 03 Apr 2007 16:51:25 GMT</pubDate><guid isPermaLink="false">1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11606</guid><dc:creator>Admin</dc:creator><slash:comments>0</slash:comments><wfw:commentRss xmlns:wfw="http://wellformedweb.org/CommentAPI/">http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/rsscomments.aspx?PostID=11606</wfw:commentRss><comments>http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/2007/04/03/media-and-communication-training-increases-law-firm-income.aspx#comments</comments><description>&lt;p class="MsoNormal" style="margin:0px;"&gt;&lt;span style="font-size:10pt;"&gt;I&amp;rsquo;ve mentioned the &lt;a style="color:blue;text-decoration:underline;text-underline:single;" target="_blank" href="http://www.thepincusgroup.com/"&gt;Pincus Group&lt;/a&gt; in a previous post titled &lt;a style="color:blue;text-decoration:underline;text-underline:single;" href="http://www.morepartnerincome.net/2007/01/17/communications-and-presentation-skills-for-the-attorney/"&gt;Communications and Presentation Skills for the Attorney&lt;/a&gt;.&amp;nbsp; They are a communications and media training company.&amp;nbsp; I&amp;rsquo;m sure there are others out there as well.&amp;nbsp; However, I have worked with the Pincus Group and seen their results. You need to know about them and organizations like theirs.&amp;nbsp; Why? &lt;/span&gt;&lt;span style="font-size:10pt;"&gt;Because, effective communication is the essential ingredient for individual and organizational success.&amp;nbsp; Why would you wing something so important to success when there is an alternative&amp;mdash;professional media and communication training? &lt;/span&gt;&lt;/p&gt;
&lt;p class="MsoNormal" style="margin:0px;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal" style="margin:0px;"&gt;&lt;span style="font-size:10pt;"&gt;Most of us think of public speaking when the topic of communication skills comes up.&amp;nbsp; Public speaking is important, and doing so can pay off for the attorney and the law firm, but only if you&amp;rsquo;re good at it.&amp;nbsp; You can be with training. &amp;nbsp;But public speaking is just a side issue. We spend our day communicating.&amp;nbsp; Yet, developing your message and staying on message aren&amp;rsquo;t natural skills. Communication is the key to persuasion and relationship development.&amp;nbsp; We develop new business through communications.&amp;nbsp; We recruit new talent through communication.&amp;nbsp; We develop our relationship with clients through communications.&amp;nbsp; We win victories and settle disputes around conference tables and in court through our communication skills. &lt;/span&gt;&lt;/p&gt;
&lt;p class="MsoNormal" style="margin:0px;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal" style="margin:0px;"&gt;&lt;span style="font-size:10pt;"&gt;You can&amp;rsquo;t get elected for office unless your craft the right message and then stay on message.&amp;nbsp; That skill is no less important for the law firm leader or working attorney. Without training, there is a vicious pitfall just waiting for you&amp;mdash;the reporter.&amp;nbsp; Without professional training, you will not be a happy camper later when reading the reporter&amp;rsquo;s story.&lt;/span&gt;&lt;/p&gt;
&lt;p class="MsoNormal" style="margin:0px;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p class="MsoNormal" style="margin:0px;"&gt;&lt;span style="font-size:10pt;"&gt;Providing the law firm&amp;rsquo;s players with professional media and communication training is an income-enhancing move for the law firm.&amp;nbsp; It will improve rainmaking and client satisfaction.&amp;nbsp; It will improve the results you achieve as a lawyer. It will kick the law firm&amp;rsquo;s reputation up another notch!&lt;/span&gt;&lt;/p&gt;
&lt;p class="MsoNormal" style="margin:0px;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p style="margin:0px;"&gt;&lt;span style="font-size:10pt;color:black;"&gt;The Pincus Group is located in D.C., but they will do group training for your law firm anywhere that&amp;#39;s convenient for you. Sessions are customized for individual needs but all involve interactive practice with Pincus&amp;rsquo; seasoned coaches.&amp;nbsp; Your team learns by doing, enhancing skills with videotaped exercises specifically designed for them. Training sessions can be tailored for half-day, full-day or two-day sessions.&lt;/span&gt;&lt;/p&gt;
&lt;p style="margin:0px;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p style="margin:0px;"&gt;&lt;span style="font-size:10pt;color:black;"&gt;In addition to training for your own law firm, consider your firm&amp;rsquo;s clients.&amp;nbsp; As their trusted advisor, you may have business executives among your clients for whom media training would make an important difference to the success of the business or the venture being pursued with your assistance.&amp;nbsp; Such training is especially important for businesses seeking investment funds or considering a public offering.&lt;/span&gt;&lt;/p&gt;
&lt;p style="margin:0px;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p style="margin:0px;"&gt;&lt;span style="font-size:10pt;color:black;"&gt;For more information, visit the&lt;a style="color:blue;text-decoration:underline;text-underline:single;" target="_blank" href="http://www.thepincusgroup.com/"&gt;Pincus web site&lt;/a&gt; or call Aileen Pincus at 301/938-690 or reach her by e-mail at&lt;/span&gt;&lt;span style="font-size:10pt;color:#333333;"&gt; &lt;a style="color:blue;text-decoration:underline;text-underline:single;" href="mailto:apincus@thepincusgroup.com"&gt;apincus@thepincusgroup.com&lt;/a&gt;.&lt;/span&gt;&lt;span style="color:#333333;"&gt;&amp;nbsp;&lt;/span&gt;&lt;/p&gt;
&lt;p style="margin:0px;"&gt;&amp;nbsp;&lt;/p&gt;
&lt;p style="margin:0px;text-align:center;" align="center"&gt;&lt;em&gt;&lt;span style="font-size:9pt;"&gt;Morepartnerincome.com is sponsored by Juris, Inc.&amp;nbsp; For information about Juris&amp;reg; products and services for increasing law firm performance and partner income, go to &lt;a style="color:blue;text-decoration:underline;text-underline:single;" target="_blank" href="http://www.juris.com/"&gt;www.Juris.com.&lt;/a&gt;&lt;/span&gt;&lt;/em&gt;&lt;/p&gt;&lt;div style="clear:both;"&gt;&lt;/div&gt;&lt;img src="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/aggbug.aspx?PostID=11606" width="1" height="1"&gt;</description><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Blog/default.aspx">Blog</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Compensation/default.aspx">Compensation</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/HR/default.aspx">HR</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Management/default.aspx">Management</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/productivity/default.aspx">productivity</category><category domain="http://www.lexisnexis.com/COMMUNITY/REDWOODANALYTICS/blogs/morepartnerincome/archive/tags/Technology/default.aspx">Technology</category></item></channel></rss>