And so I think I'm always looking for ways to create
a better flat fee model.
Not exact matches
My conclusion has been that the hourly or
flat fee model serves clients
best and appropriately compensates advisers for the many
good things they do.
But since that predicted value has traditionally been so hard to determine (and defense lawyers will often up the value to justify more billable hours spent on the matter), the industry is left really with no
better model than something based on the actual billable hours whether that be the actual amount or some predicted amount in the case of a
flat fee.
The concept of moving away from
flat rate percentage bonus
models in rewarding employees is also extending beyond
fee earners, with some firms either introducing or developing merit - based bonus structures for support staff as
well.
This is
good for clients under a billable hour
model, and this is
good for service providers under a
flat fee model.