Monthly Archives: May 2016

10 Principles of Strategic Leadership

10 principles of effective management

Courtesy of Gilberto Carvalhais Ferreira

Many leaders in law firms have never tackled the first hurdle (No. 1), feeling unable to share the load with others, so they never have enough time.  To share the load to get over this, objectives need to be clearly defined and gaps in skills need to be filled.  Invest time in managing performance against agreed objectives and tasks, mentoring others to develop their business and personal skills.  Don’t try to do it all yourself. There just aren’t enough hours in the day … and the rest works for me too!

 

GC Insight: Lawyers need to push more to understand the business

David Eveleigh, GC at Serco

David Eveleigh, GC at Serco

David Eveleigh GC at Serco with a frank assessment of where lawyers – in-house and private practice – need to improve and develop.  More focused on process; better understanding and focus on what needs to be delivered for the business.  His interesting take on lawyer “pull” and not enough “push” to get to know the business feels about right.

Good insight too on how to remunerate to motivate to develop people and culture with the right priorities going forwards.

Making effective changes and innovations here should start by listening to clients … afresh – aiming to innovate and add value to the customer journey.

Read the full interview here >>

FREE DOWNLOAD: What does good performance look like for a legal practice like yours today?

NatWestDOWNLOAD:   NatWest’s 2016 Law Firm Financial Benchmark Survey Report

” … median profit per equity partner is £111,000, which is £4,000 higher than the figure from last year’s survey.”  BUT “If firms could focus more on profitability and perform at the upper quartile point for gearing, recorded hours, recovered rate and margin, they would achieve a profit per equity partner of £409,000.”

“… median profit margin steady at 24%, close to the long-term average of 25%. This suggests that the legal profession has now implemented the necessary changes to earn at historical levels.  Are firms going to be happy with this level of profit?”

… and much more to help you set expectations for your practice.  The survey covers 390 firms, delivering robust regional and national data reference points.

DOWNLOAD your free copy of this informative 2016 report here >>

This is the largest annual benchmark report to date from NatWest, with contributions up by 15% from the 2015 report which you can also find here. 

Business Analytics and Reporting to help you run a better law firm – Bi24

C24, Wright Hassall

Improve the performance of your legal practice – fill gaps in the capability of your practice management system.

CASE STUDY:  Wright Hassall, solicitors implemented Bi24, which is C24’s business analytics and reporting solution for law firms, connected to Wright Hassall’s key data feeds across management reporting, practice management systems and marketing applications.

The Outcomes:  Easy access to data and insights has changed the way teams work at Wright Hassall, providing users across the entire organisation from Managing Partners to support staff with the ability to perform ondemand, self-service reporting whenever they need to. Data can now be pooled between different applications to drive greater insights across work in progress cases and ensure better returns on investment for marketing activities.

One of the most important developments is the ability for the firm to create dynamic client facing dashboards that assimilate information into one place; showing the client’s current billing position, work in progress, outstanding payments due, hours worked and activities undertaken. This enables Wright Hassall to keep their clients up to date and provide them with regular reporting so that they are aware of payments due, which is increasingly important in a post-recession era where maintaining healthy cash flow is a business reality.

Additionally, Wright Hassall are now able to extend their reporting capabilities out to customers of their clients, for scenarios where updates on legal matters are required to be reported to a client’s wider customer base. For instance, Wright Hassall can provide reporting via portals to the tenants of their property management clients with updates on tenancy agreements, disputes and queries. This enables Wright Hassall to differentiate itself by becoming a data services provider to its own clients, in a way that suits the business models and growth objectives of its key client base.

IT Director, Martyn Wells, highlighted the change in the business through the introduction of better reporting practices. “Data is now driving behaviours within the firm. When partners are creating their forecasts and business strategies for the year, they are now proactively seeking out data insights from the Bi24 tool to inform their strategies”, commented Wells. “We are also seeing how better reporting through Bi24 can allow us to stay competitive in an age of fixed price fees, enabling us to continually assess costs and margin positions for better business decision making. Data is now supporting us in achieving our ambitious growth targets.”

DOWNLOAD a copy of the full CASE STUDY REPORT here >>

For more information about other proven technology solutions that can improve the operation of your business, contact Allan Carton at Inpractice UK.

Unique online delivery system for ILM & CMI approved management training

Blended LearningeAlliance Education Centre

Our L&D business partner, eAlliance has just launched an innovative learning and education platform that enables law firms to deliver fully accredited ILM and CMI approved training  qualifications to staff using a partial or fully online service to support delivery of programmes that cover essential personal skills needed in any legal practice:

  • Team Leading (Level 2)
  • Leadership & Management (Levels 3 & 5)
  • Coaching & Management (Levels 3, 5 & 7)

Why is the Education Centre different to a normal Learning Management System (LMS)?

The Education Centre delivers a “qualification in a box”.  It has all the standard features you would expect from a modern LMS, but is uniquely configured to intuitively support the learner’s journey through a qualification programme. It contains online curriculum, learning resources and support materials that have been mapped to qualification units in key business subject areas from team leading to senior executive level.  It equips your trainers and L&D team to:

  • Plan and manage every aspect of a qualification delivery process
  • Give access to quality learning and resource materials, pre-mapped to each unit
  • Provide tutor support materials and tools
  • Host virtual classrooms, online tutorials and social media forums
  • Manage assessments, communication and reporting
  • Support blended or fully virtual delivery models

Supporting Tutors, Training Providers and Businesses

The Education Centre is fully customisable, enabling you to create your own qualification programmes from a range of key subject areas. With a virtual classroom, easy-to-manage assessments and simple communication and reporting features, this system has everything you need to deliver professionally recognised development programmes that will make a real impact on both your people and organisational performance.

Which qualifications do Education Centre Support?

Team Leading:

Leadership & Management

Coaching & Management

To contact eAlliance to request more information or to book a demo – go here.