First,
labour requirement risk reflects the unpredictability of what is required to resolve a certain file.
The problem is easy to state: How can personal plight law firms ditch pre-paid time - based billing — and reap the rewards of doing so — without choking on
labour requirement risk and non-payment risk?
Pre-paid and open - ended time - based billing is a natural response by personal plight law firms to
the labour requirement risk and non-payment risk that are inherent in their work.
The firm must still deal with
labour requirement risk, but carrying a portfolio of contingency cases with different characteristics mitigates that.
Labour requirement risk is eliminated by a retainer allowing the firm to be paid for every hour that turns out to be necessary.
However, in research for my new book, I found firms using innovative models that offer clients significant price certainty without creating intolerable
labour requirement risk.
Not exact matches
Last month, the Electoral Commission reported about 770,000 names had been removed from the register as the government introduced the
requirement that people sign up as individuals rather than as households, leading to
Labour complaints about the
risks of disenfranchisement.
Such
requirements are both cumbersome and
labour intensive, and can require monumental costs from both the technology and human capital required to review background reports and remove those users who pose a
risk to online daters.
But
Labour warned that he
risked creating a «two - tier education system» where the
requirements of academic pupils are put ahead of those wanting to pursue more vocational courses.
YY's clients enjoy reasonable price certainty and deferred payment, and YY limits both
labour requirement and non-payment
risk.
Best of all would be a personal plight fee model that offers certainty and deferred payment to the client, while freeing the firm of
labour requirement and non-payment
risk.