JordanFurlong + budgets   2

Most Companies Will Reduce Legal Spend in the Next 2 Years, Says EY Survey | Legaltech News
“The recruitment challenge for legal teams seeking junior lawyers is to attract them with meaningful work, not routine activities, and demonstrate the potential for career progression,” Paula Hogéus, EY global labor and employment law leader, said in the report.

The options that firm attorneys who want to leave private practice have broadened. Before, firm attorneys would want to go in-house to be more involved with the business. Hogéus said that now lawyers have the option of working on a contractual basis and roles in legal tech startups.

Another issue is finding ways to give new in-house attorneys meaningful work, rather than menial tasks.

“The recruitment challenge for legal teams seeking junior lawyers is to attract them with meaningful work, not routine activities, and demonstrate the potential for career progression,” Hogéus said.

In order to find meaningful tasks for junior in-house employees, businesses are beginning to outsource those more menial tasks. Thirty-three percent of businesses indicated they are already outsourcing tasks such as contract management, entity management and document retention.
clients  recruitment  retention  budgets 
10 weeks ago by JordanFurlong
Mandatory Budgets? At a Law Firm? You Have Got to Be … Thompson Hine | The American Lawyer
Despite the unanimous agreement to budget all matters, it was not without some resistance. After announcing the policy, some partners, in jest, compared Lamb to Hernán Cortés, the Spanish general who in 1519 ordered his troops to burn their ships on the shores of Mexico as they prepared for battle.

But there was no going back, Lamb said.

“Lawyers are like cats. They don’t like to be herded,” Lamb said. “But I had learned over time that if you tell professionals what you really expect from them and hold them to it, they respond much better than if you just ask.”

Read said the firm’s strategy in spreading adoption of the tool worked. “We got more core converts and more secondary adopters,” she said.

Better Budgets
More law departments are requiring that their outside counsel provide budgets for legal matters. At companies with more than 51 in-house lawyers, 64 percent of general counsel require budgets from their law firm partners, according to a 2018 Altman Weil survey. That figure is up from 57 percent the year prior.

Still, general counsel are somewhat frustrated by the results. More than 1 in 5 general counsel said requiring budgets did not result in significant cost control improvements. That was the highest rate of dissatisfaction among 15 different strategies to control costs, such as shifting work to lower cost firms or using alternative fees.

One reason for the frustration may be that having a budget doesn’t mean you will stick to it. Read and Lamb are now fighting that battle at Thompson Hine.

The firm’s budgeting system is tied in with real-time billing data, and the system sends Lamb alerts when lawyers are going over budget for particular phases of the matter. When those alerts first started rolling in, Lamb said he would call partners and ask what was sending the case over budget. That led to some “culture shock,” Lamb said, where partners would push back against having “their” matters managed by the firm.

His response: “It’s the firm’s case. It’s the firm’s resources. You’re putting the firm’s associates on the matter. And the firm has some say in how you use its resources.”

Lamb now has a paralegal who handles those conversations, which he says are becoming smoother.
process  budgets  client  firms  innovation  management  leadership 
february 2019 by JordanFurlong

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