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Management Consulting, Article

June 15, 2021

How Law Firms, Recruiters & Candidates Can Navigate the Booming Job Market
Leopard Solutions’ research shows the demand for lawyers at all levels reaching an all-time high this year as law firms across the nation expanded attorney job searches to make up for the slow growth they experienced last year due to the COVID-19 pandemic.  Mary K Young will join the speakers participating in this webinar on June 15 to discuss:
- The opportunities for law firms, legal recruiters and candidates in the current booming environment
- How to source and compete for candidates at all levels in a competitive market
- How law firms can better retain their people
- How to set your lateral hires up for success
- The unique challenges and opportunities for women lawyers and diverse lawyers in the current market
- The unique opportunities for mid-size and small law firms
- How law firms, legal recruiters and candidates can use this market to their advantage
To register for this webinar, go to Navigating the Booming Job Market

Management Consulting, Strategic Planning | Speaking Engagements | Mary K Young | LinkedIn and Leopard Solutions

June 8, 2021

Client Communications: What Do Clients Really Want?

Digital client communications soared during the pandemic. Building on a recent survey by Greentarget, Right Hat and Zeughauser Group, moderators John Corey and Mary K Young will ask a panel of three former and current in-house leaders, including Zeughauser Group partner Alex Dimitrief, to discuss the pros and cons of different approaches. They will tell us what breaks through the clutter and what they ignore, what they look for in law firm content and how they prefer it to be presented.

June 8 at 11:00 AM Eastern time

Register for the panel discussion at LMA In-House Counsel Program

Client Service Interviews, Management Consulting, Marketing Planning, Strategic Planning | Speaking Engagements | Alex Dimitrief, Mary K Young | LMA Mid-Atlantic

April 23, 2021

Is Benesch's Lateral-Focused Strategy Paying Off?

In contrast to the yearslong trend of law firm mergers, Ohio-based Benesch Friedlander Coplan & Aronoff has chosen to pursue a growth strategy focused on aggressively recruiting laterals, making more than 70 such hires since the start of 2019 in an approach observers call both impressive and risky.  Benesch has every intention to continue growing — and to do so without mergers. Industry experts said the firm's results so far are impressive and promising, but that the strategy is not without potential downsides. Peter Zeughauser observes that for a firm of Benesch's size, it's striking to see 70 laterals in two years.

Management Consulting, Strategic Planning | News Mentions | Peter Zeughauser | Law360

April 27, 2021

What Can a Litigator Bring to the Role of Global Law Firm Chair?

Not all litigators are trusted boardroom advisors. By all accounts, Sidley Austin’s incoming management committee chair, Yvette Ostolaza, is both. Kent Zimmermann describes Ostolaza as a crossover success who is an excellent trial lawyer, but is also respected by business people and partners across practices. He defines the current best practice in law firm leadership succession planning as a two-step process: (1) depersonalize the process so that you’re looking at the attributes that a candidate would need to be successful in the role, and (2) determine to what extent partners in the firm who might be willing to take on the role have those necessary attributes.

Management Consulting, Strategic Planning | News Mentions | Kent Zimmermann | Law.com

March 31, 2021

Law Firms Likely to Continue Quietly Trimming Employee Rosters

Staff roles, and perhaps some underproductive partners, will be scrutinized as firms consider their new normal.   Even as many firms found themselves busy with legal work amid the pandemic, several acknowledged significant layoffs, driven by outsourcing and other changes within the foundation of the law firm business model.  Mary K Young observes that people are getting by without a legal assistant, or what used to be called secretaries, outside their door. They don’t need them as much, and they don’t need receptionists.

Management Consulting, Strategic Planning | News Mentions | Mary K Young | Law.com

March 29, 2021

How a Good Year Can Trip Up Firms Down the Road

Complacency and the assumption that what is working now will always work can put a darker tint on a successful financial year for law firms.  What worked last year isn’t guaranteed to work this year, and relying on that principle could in fact have a detrimental effect on success down the road.  Mary K. Young observes that a small number of firms tend to move forward in a halting fashion, taking two steps forward and then one step back. But she believes that most firms recognize that being static after success isn’t the way to replicate it moving forward.  It isn’t so much that firms have a great year and then rest on their laurels. The firm could have had a major litigation matter settle and have comparatively lower numbers the next year.

Branding, Management Consulting, Strategic Planning | News Mentions | Mary K Young | Law.com

March 25, 2021

How Goodwin’s Big Bet on Tech ‘Convergence’ Pushed Up Revenue

Goodwin Procter has seen its top line roughly double from $678 million to $1.5 billion over the last 10 years, thanks in large part to a playbook that focuses on the intersection of technology and capital.  The firm developed a “convergence strategy” roughly a decade ago in the wake of the global financial crisis that sought to capture work from the technological expansion happening across industries.  Kent Zimmerman observes that many firms see an opportunity to not just focus on serving pure tech companies, but instead serving companies across industries whose businesses are evolving from tech-driven innovation.  Some firms realize that the credible market position to take is to be a leader in certain sectors.

Management Consulting, Strategic Planning | News Mentions | Kent Zimmermann | Bloomberg Law

March 2, 2021

The Outperformers: What Sets Big Law’s Most Successful Firms Apart

Kent Zimmermann and Peter Zeughauser review how, in a difficult year, a subset of firms separated from the rest of the market with double-digit revenue and profits growth.  Standout firms are growing faster than their peers by focusing on profitability and reaping the rewards. For 2020’s most successful firms, the year offered valuable insights into the future of their workplaces, their talent and their overall trajectory.

Management Consulting, Strategic Planning | Publications and Articles | Peter Zeughauser, Kent Zimmermann | The American Lawyer

February 23, 2021

Billing Can Be So Much More Than a Necessary Evil

In this article, Alex Dimitreif discusses important billing principles and the need for detailed budgets.  Law firms can no longer afford to view billing and budgeting as necessary evils or relegate them to backroom administrators. Outside counsel should seize upon the billing process as a vehicle for thoughtful discussions with clients about how assignments will be handled. Up-front exchanges about how much a matter will cost should facilitate dialogue on a client’s objectives and how best to achieve them. Interim bills should serve as informative status reports and alert clients to potential issues. Final bills should stimulate candid discussions about how the law firm performed and whether the client’s expectations were met.

Management Consulting, Strategic Planning | Publications and Articles | Alex Dimitrief | ALM Intelligence Fellows

December 7, 2020

Large Law Firms Learned to Go Lean This Year—but Staying That Way Won't Be Easy

It only took being blindsided by a global pandemic to finally impress upon Big Law the importance of trimming the fat. The sudden onset of the pandemic forced law firms to quickly make cuts they otherwise wouldn’t have dreamed of. Many of those measures now seem like they were long overdue.  But the real challenge now is figuring out how to keep the weight off.  Bruce McLean notes that the caution that prevailed when the pandemic first struck is prevailing for 2021.  People believe the economic situation will be quite similar.

Management Consulting, Strategic Planning | News Mentions | R. Bruce McLean | Law.com