Accordingly, we're big fans of initiatives that provide extra «incentive» compensation to associates based on criteria
other than billable hours.
Abbott cites the need for education to eliminate bias; better work and talent management; acceptance of new leadership styles; and a different economic model that rewards
more than billable hours but also other contributions to the health, stature and profitability of the firm.
According to the Billable Hour Index, the majority of immigration and criminal lawyers charge based on flat fees
rather than billable hours.
It seems to me that this data argues powerfully for both increasing eligibility for legal aid, so that fewer litigants are left without counsel, and lawyers to consider the unbundling of legal services, providing services at a flat rate or on a barter basis, and exploring other creative approaches to paid legal
services than the billable hour.
Pricing and Fee Arrangements come under scrutiny with the conclusion being that alternative fee arrangements are the way to go and if implemented correctly could be more effective and
profitable than the billable hour.
As new in - house leaders choose legal services with a mind to a model
other than the billable hour, Reed predicts there will be more mergers of the different types of alternative service providers aligned with main providers of legal services — such as large law firms, which may require some regulatory change.
Much of the discussion in 2017, as it has been in the past, centred on deliverables and the metrics to manage and measure performance — but people are much
more than their billable hours.
However, many companies are pressuring law firms to adopt alternative fee arrangements, such as payment systems that are based on a method other
than billable hours.
When you bring up pricing through means other
than the billable hour to most lawyers practicing today, you'd think the billable hour had been with us since the Big Bang.
At Taft, success is measured in more
than billable hours.
Unfortunately, firms that are waiting for a full consensus to occur on the necessity and desirability of offering pricing based on something other
than the billable hour may find themselves left in the competitive dust.
Rather
than billable hours, the focus of in - house counsel is to effectively service the corporation's legal needs in a manner that least infringes on the bottom line.