Ahead of the Curve
The Professional Development Advisory Committee’s (PDAC) purpose in providing you this communication is to further its goal of periodically sharing topical information regarding the legal industry. Our hope is that one or more of the updates will provide a spark of insight to assist with your work on behalf of ALA as well as within your firm or legal department.
"LAW FIRMS IN TRANSITION 2018 REPORT AN ALTMAN WEIL FLASH SURVEY"
"Now in its tenth year, Altman Weil’s annual survey documents the forces reshaping the landscape for legal services and provides insight on how the nation’s largest law firms are responding. 398 firms with 50 or more lawyers participated, including half of the country’s top law firms.
- Change is Everywhere
Not one survey respondent said the pace of change to decelerate in the coming years. The good ole days are long gone and there’s no going back.
- Complacency Has Set in at Many Firms
Partners are underutilized at most firms with almost half of firm not meeting billable hour goals.
- Most Firms Are Focused on Short-Term Tactical Improvements
Few firms have not taken full advantage of disruption as an opportunity to run with an innovative set of services to distinguish themselves from competitors.
- Firms Need to Think More Long-term and Strategically
Just 38% of firms are actively testing innovation. Look outwardly at ways your firm can improve efficiency and added value for clients in the long run.
- Partners Are Your No.1 Impediment to Change
Improving productivity and dealing with chronic underperformance has yielded significant improvement firm profits in 84% of participating firms. In 69% of firms, partners are highly resistant to most change efforts."
Resource: Managing Partner Forum
"AN ACCREDITATION SEEKS TO 'PROFESSIONALIZE' LAW FIRM PRICING DIRECTORS"
Law firm pricing professionals have a new way to show partners that pricing advice is worth their time.
Law firm pricing professionals have a new directory and it carries with it an accreditation that a group of industry veterans hope will “professionalize” the relatively nascent role of bringing pricing legal matters.
The True Value Pricing Institute currently lists about 45 pricing pros on its site as having obtained ALPP, an accreditation acronym for Accredited Legal Pricing Professional."
Read more. (requires free subscription)
Resource: Roy Strom, The American Lawyer
"THE ETHICAL IMPLICATIONS OF ARTIFICIAL INTELLIGENCE"
Artificial intelligence is transforming the legal profession — and that includes legal ethics. AI and similar cutting-edge technologies raise many complex ethical issues and challenges that lawyers ignore at their peril.
Resource: David Lat, Above the Law
"5 KEYS TO EARNING SUSTAINED LOYALTY FROM YOUR EMPLOYEES"
"Companies with a highly engaged workforce outperform those without by 147 percent."
Resource: Charlie Brown, SHRM
Jennifer Colwell, CLM, MBA — McGill, Gotsdinger, Workman, & Lepp
Kevin Costello — Holland & Knight LLP
Tammy Cowser, PHR, CP — Foley & Lardner LLP
Lisa Dasher, CLM, CPA, CGMA, Chair — Wicker Smith O'Hara McCoy & Ford P.A.
Rick Hellers — nQueue Billback LLC
Lana McGinnis, CLM, SPHR, SHRM-SCP, Vice Chair — Sturgill Turner Barker & Moloney, PLLC
Teresa Reiner, CLM — Gislason & Hunter LLP
Teresa Walker — Waller Lansden Dortch & Davis, LLP
Stephen Wolf, CLM, CPA — Deutsch Kerrigan, LLP
ALA Board of Directors Liaison to Committee
Michael Bumgarner, CLM, CPA, CGMA — Flaherty Sensabaugh Bonasso PLLC
ALA Liaison to Committee
Patricia S. Carrera, JD, CKM, CPLP — ALA's Sr. Director, Member Experience