Law Firm Strategies for Success
"As clients look for value, firms that are flexible and innovative in terms of staffing and cost-management are better positioned to compete for business."
-Michael Rizzo, hiring and professional development partner, McKenna, Long & Aldridge LLP
Law firms are striving to operate more efficiently while preserving the quality of legal services. The cornerstone of the new service model is a thorough understanding of the client's business and the issues it faces, coupled with flexibility on fees and a willingness to implement alternative billing models. There is a renewed focus on customer service, marketing and providing a personal approach. Clients expect their outside counsel to solve problems, offer sound legal advice, deliver value and be a partner who understands the company's broader business objectives.
"Clients want a lower leverage in their work. They want more senior people involved and fewer young associates in their matters. The leverage that law firms operated with has declined somewhat as a result."
-Cesar Alvarez, executive chairman, Greenberg Traurig, LLP
Law firms are capturing new business by showing a willingness to adapt their processes, such as how they staff a case or set fees, to accommodate the client's needs and expectations. Firms are expanding their client base and service offerings primarily through lateral hires and mergers or acquisitions, rather than adding practice areas.
Belgium
Brazil
Canada
France
United States
Australia
Austria
Chile
China
Czech Republic
Germany
Hong Kong
Italy
Japan
Luxembourg
Netherlands
New Zealand
Singapore
Switzerland
UAE
United Kingdom
