Law Departments are resources consumers, not revenue generators, so when law department managers start to discuss ways to demonstrate efficiency, the most common – and least original – idea is to decrease overhead. The most effective law departments, however, have found that cost-cutting is not the only way to create successful results, and that for many organizations; it is not the most effective.
At Assigned Counsel, our recruiters have responded proactively to our clients’ profitability concerns in several ways. Here are a few methods for increasing profits in a tough economy:
- Seek feedback from peers. The members of legal department’s management team have the most information about the organization – but sometimes, they are too close to the department’s challenges and opportunities to see them clearly. Seeking feedback from peers in other organizations can provide insight into effective profit-improvement programs and help managers identify weaknesses and opportunities within their own organizations.
- Develop a growth strategy focused on efficiency. Many of the law departments that weathered the recent recession well did so because they had run lean from the start, while others that floundered in the economic downturn had to learn their efficiency on the fly. When creating a strategic staffing plan, focus on growing efficiently into future projects and plans.
- Practice great leadership. Encourage staff and attorneys to generate their own ideas for improving profitability and to act on the most promising of them. Foster a sense of teamwork within the law firm or legal department and promote communication as ways of improving motivation and encouraging retention, which reduces the considerable costs associated with hiring and onboarding.
- Improve internal culture. Many large organizations do not think of attorneys or of certain departments, such as human resources, as positive contributors, when in fact some of the best ideas come from these corners. Train every member of staff to think in terms of revenue and income.
For your legal staffing needs, contact Assigned Counsel. Our experienced staffing partners understand the cost-related hurdles you face, and we strive to provide top talent that fits within your budget. Contact Assigned Counsel today.