Sentences with phrase «billable hours»

The result is that our partners typically receive much higher take - home compensation than they would receive for performing identical billable hours in a traditional law firm.

The firm must recognize the partners who have significant billable hours, to acknowledge and reward partners who have developed a reputation or skill level to better service clients, to set a formula which recognizes and rewards marketing efforts, as well as billable hours, and to look at an analysis of profitability in the type of work being generated by particular partners.

A commitment to business development: A compensation plan based solely upon billable hours fails to recognize both the value and absolute need for business development.

Certainly, there will be more billable hours.

Diligen helps firms show their customers that they are trimming the fat on monthly billable hours by reducing time spent on due diligence and contract review.

«According to the survey respondents, the average revenue from library staff's billable hours is $ 938,812, compared to $ 294,304 in 2016 and $ 526,499 in 2015.»

20 % fewer billable hours in February means 20 % less revenue come March.

Given the pressure lawyers feel to record billable hours, it may seem almost impossible -LSB-...]

Partners therefore have an incentive to assign the largest justifiable number of associates to a case in order to create the largest possible number of billable hours.

Firms that penalize attorneys for not recording an adequate number of billable hours because they are shaking the bushes for business may be doing their firms a disservice over the long run.

With the Alteva Clio connector, you talk on your office phone or cell phone and all call times, billable hours and details automatically get logged in your Clio matter.

These changes led to huge improvements over the mass quantity of billable hours being sunk into electronic review.

To ensure all billable hours get invoiced:

The 2014 Canadian Lawyer Corporate Counsel Survey was released recently, and, for the first time, billable hours usage has dropped below 50 % in the Canadian legal industry.

Unlike most law firms that bill clients based on the total billable hours each lawyer works on a particular matter, M&A Law Firm, P.C. employs a variety of alternative fee structures.

«You have to read and understand your data and you have to look at billable hours and monitor those hours and ask the questions.

The partner piles on the work to the group, with deadlines and you will watch your productivity and billable hours increase with engaged and enthusiastic lawyers.»

At the junior levels, billable hours are also a measure of experience; the more time an associate spends practicing, the greater the opportunity for skill growth.

If you are tired and exhausted all of the time, you need to make getting enough sleep each night.Also, it is a good idea to get into the office earlier than most before the phone starts ringing and get your billable hours completed first thing each day then allow time for administrative tasks, email, phone calls later in the day.

More than 30 % of those surveyed used a combination of billable hours and types of flat fees.

Billable hours — Firms agree with their client to a rate per lawyer hour and then bill at the end or during a project based on that rate and the actual number of hours worked.

50 of associates» billable hours are designated «observational hours.»

In other words, if one associate can research and write a brief in fifty billable hours, it may take two associates a total of seventy billable hours to do the same research and write the same brief.

With law firms increasing both their hourly rates and the number of billable hours they expect their associates to work, it is no surprise that the clients holding the outsized bills and expecting to pay for all this growth are pushing back with tools like billing guidelines, outside and internal auditors, and more competitive hiring practices.

Manage Your Time — This is a highly effective way to ensure you are working on the right things, eliminating waste from your schedule and maximizing your billable hours.

Integrity is one of our core values: We put your needs before billable hours.

Law firms get their much needed billable hours to keep their doors open; associates get mentorship, leadership training, engagement, encouragement and work - life balance.

If both spouses can hire attorneys, then the question becomes not whether they can afford collaborative practice, but whether they can afford any billable hours being spent on anything other than trying to reach an out - of - court agreement.

In addition to the core Aderant Expert solution, lecocqassociate will be implementing Expert On the Go for mobile use and Found Time to help recover lost billable hours.

Law firms» billable hours systems highlight the amount of time new mothers and fathers spend at work or otherwise in stark, financial terms.

Nadia Haque, Associate, Radiant Law: Haque explains that even if she is ambitious and wants to succeed, she does not want to do so in the environment of a traditional law firm and its focus on billable hours.

Even if your legal department is primarily tasked with managing large number of matters handled by outside counsel, the efficient use of LegalMation by your outside counsel can dramatically lower billable hours on key litigation tasks, providing direct - to - the - bottom - line savings for your company.

The firm also signed up to Expert On the Go for mobile use and Found Time to help recover lost billable hours.

Mr. Harris provides a free initial consultation to all new clients, and we have flat rate legal fees, meaning no billable hours for our services!

Traditional management skills focus on concrete, and sometimes creative ways to: (1) create leverage, (2) raise billing rate, (3) create more billable hours, (4) reduce expenses, and (5) make operations more efficient and therefore more economical.

Some firms actually actively opposed efficiency improvements because of their anticipated impact on billable hours.

But that won't solve the other problem I identified: firms will continue to use billable hours as an internal evaluation metric.

Below are a few tips to help you manage associates» billable hours to foster firm productivity and increase client satisfaction.

Law's lack of investment in new technology is at its root an institutional problem — from the traditions of the courtroom to the dominance of firms and billable hours — so it's not going to change overnight, progress will need to be driven.

In this context, the lawyers at KCT are not evaluated on the basis of either their billable hours or the business they bring in.

By providing standard work descriptions for specific matters which the associates can modify as applicable, you make it easier for them to input their billable hours in a timely and accurate manner.

In the same way that associates can wait too long to input their billable hours, partners can wait too long to actually check those hours and work descriptions.

Clio's time keeping features ensure that each client's monthly quota of billable hours is not exceeded, and provides a neatly organized database for all of the firm's data and files, which are accessible from anywhere.

Consider the litigation partner who typically works 2,300 billable hours per year, bills that commensurate amount and has exceptionally high working attorney fee receipts.

We see this mentality frequently displayed in law firm partners who prefer to record 1,800, 1,900 or more billable hours each year, in order to earn fees now, rather than devote some of that time to business development, client relations, and the professional development of others in the firm — all of which have been demonstrated to produce much greater financial returns long - term.

I agree with attorney Hackett about the billable hours increasing.

Considerations beyond billable hours are necessary.

Clients are smarter than ever about billable hours and the last thing they want are associates working inefficiently out of a misguided attempt to meet billable hours requirements.

To foster that sense of personal responsibility, firm management should encourage each lawyer to analyze his or her own contribution to the firm in areas such as billings, billable hours, client development activities and enhancing the firm's image.

As additional unintended consequence of emphasizing partner billable hours, relates to clients becoming conditioned to partner staffing on their cases.