Fallsview Casino Resort - The Grand Hall E
As co-author of Altman Weil's highly regarded annual Law Firms in Transition survey, Eric always has current information on the trends affecting the legal profession and what law firms are doing about it. Their 2015 survey showed that law firms that have made significant adjustments in their approaches to pricing, staffing and efficiency are outperforming those that have not. Learn about exactly what changes are being made and what firms can expect going forward.
This year's address will draw from Altman Weil's 2016 Law Firms in Transition Survey, to be released in May.
Key findings from the 2015 survey included:
- Increases in law firm profitability were shown for the first time to be clearly linked to strategic changes in lawyer staffing, efficiency of legal service delivery and pricing.
- A high level of decision-making authority conferred on law firm leaders correlated with better economic performance.
- Overcapacity of equity and non-equity partners, especially in larger firms, was endemic and a drag on profitability.
- Only about half of law firm leaders saw growth in lawyer headcount as a requirement for their firms' success. Non-traditional competitors were actively taking business from law firms and the threat was growing.
- In 63% of law firms, partners aged 60 or older controlled at least one quarter of total firm revenue, but only 31% of law firms had a formal succession planning process in place.
Please click here for the presentation.