Managing in an Economic Downturn

Managing in an Economic Downturn

In the second and third quarters of last year, economic advisers warned of a potential mild to moderate economic downturn in 2020 or 2021, and in light of those concerns we wrote our July Insight, Managing in a Downturn. At that time, no one anticipated the rapid series of events which have impacted the world over the past 4-6 weeks and the global recession we will likely face over the coming months.

Factoring Profitability into Partner Compensation

Managing Volatility

Volatility has become more common in the legal industry and firms must be prepared to deal with the consequences. As we potentially head in to tougher economic times, leaders need to be thinking ahead and managing proactively.

Taking the Long View

Taking the Long View

Following the recent release of public reports on law firm financial performance, it is easy to become preoccupied with year-over-year changes to key metrics. However, an even more interesting perspective emerges when we step back and analyze the changes in the legal industry over multiple decades.