In response to the pandemic many law firms reduced the pay of owners, associates and staff. Many of these moves were made specifically to avoid layoffs while managing the uncertainty associated with future cash flow.
During the last six months
Managing Law Firm Transition
Thoughts on Leading High Consequence Change
Managing Law Firm Transition, published by Hayse LLC, focuses on the strategic and operational challenges law firms face during periods of change. The blog covers topics such as law firm mergers and acquisitions, succession planning, restructuring, crisis management, and firm wind-down processes. It addresses practical considerations for maintaining stability and continuity, including leadership transitions, financial and operational integration, and client relationship management. The content also explores growth strategies through services like IT, accounting, and marketing tailored for law firms. The blog aims to guide law firm leaders in navigating complex transitions to strengthen their firms' future viability and competitive positioning.
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Preventative Action and Law Firm Decline
Adding Talent During Covid-Two Important Requirements
Addressing Economic Issues Related to COVID
Preparing for an Extended Covid-19 Delay to Law Firm Normalcy
Client Revenue Loss and COVID-19
I have previously referenced the excellent McKinsey report COVID-19: Implications for law firms. In a re-read of it this morning, a universal truth regarding client relationships struck me: the stronger firm communication with its clients, the less likely there…
Two Proven Elements to Conquering Law Firm Crisis
Planning for the Loss of a Law firm Leader
In last week’s post, we explored the surprise loss of a law firm leader. Today I want to suggest an orderly approach to this inevitable event.
The Zeughauser Group conducted a survey that included several interesting issues. Three observations…
The Loss of a Law Firm Leader
A recent post in Law.com about Boies Schiller and Flexner reminded me of the critical dynamics associated with losing key members of a law firm. The departure of individuals responsible for a significant amount of client revenue, or those who…