What’s the best compensation plan for your business? Hazard #1: Emphasizing Revenue over profits Hazard #2: Prioritizing Billables over Realization Hazard #3: Focusing on Rainmaking instead of Service Hazard #4: Incentivizing personal success over firm success Hazard #5: Sacrificing health for financial rewards The best compensation plan for your firm
Attorneys are burned out. It’s a case of diminishing returns – attorneys are working harder each year while achieving less. If you’re part of BigLaw, you’ll work a minimum of 80 hours per week. If you’re a solo attorney who’s looking to grow, you’ll experience a similar workload but may
Why do attorneys work so hard? Are they pursuing a higher purpose or some lofty goal? Some are, but they’re in the minority. Are they simply more driven or ambitious than the rest of the world? Maybe, but these attorneys are the exception, not the rule. What is it then?
Attorneys are treated unfairly. They’re not equal. They should be, and many of us would like to believe that attorney compensation is both equitable and just. But is this really the case? Are attorneys treated equally by their firms? The answer is No. Here’s a controversial and initially unpopular approach
Your employees are all mercenaries. According to Gallup and Steve Rasmussen, former CEO of Nationwide, your employees fall into one of two camps, patriots or mercenaries. Not because they want to be but because they have to be. It’s a for or against problem. This problem makes it difficult to
Hate tracking time? It’s completely understandable. Attorneys have much better things to do with their time, like defending and protecting their clients. Here’s the problem. Tracking time is a necessary evil. It’s how attorneys, law firms and support teams get paid. The surprising part about all of this, if you