Legal Management Magazine

Legal Management reports on topics within ALA’s five knowledge areas: Legal Industry/Business Management; Human Resources Management; Financial Management; Communications and Organizational Management; and Operations Management.

February: On the Cover

Prioritize Employee Health for Your Firm’s Financial Wellness

The expansive, devastating impact of COVID-19 has caused organizations across the globe to rethink their approach to protecting and promoting the health and wellness of their employees. Although many law firms have wellness programs and initiatives in place, the pandemic has demonstrated that, in order to truly support their workforce, firms must take a systematic and robust approach to wellness — one that is focused on prevention and goes beyond the reach of traditional programs and initiatives. Read more. 

Features

Facing Your Firm’s Biggest Financial Roadblocks
Revisiting firm financial processes can help prevent them from breaking down — and potentially protect overall profitability.

From law firm billing to budgeting, effective internal financial practices can help ensure ample funds flow in and out the door — yet some firms struggle in this area. The involved operational tasks can be time-consuming — a daunting prospect when legal work deadlines are looming. For instance, 60% of firms need a week or more just to process and publish client invoices, according to an Aderant survey. Even with firm members’ best efforts, payment isn’t guaranteed. Read more.

Financial Leadership in Uncertain Times
Now more than ever, financial leadership at your legal organization is vital.

The financial status of a law firm can often be precarious. From staying on top of billable hours to a changing economy, it has always been a challenge — and then the coronavirus pandemic happened. Suddenly, many legal organizations were facing decreased business and/or delayed cases. Now more than ever, your firm can benefit from strong financial leadership. Here’s how you can best contribute to it. Read more.


Columns

Big Ideas
Being Uniquely You Makes the Best Leader

BP Perspective
7 Things Law Firms Should Know

Innovations
Emoji: What Do You Mean by That?

Test Drive
iPhone 12: Back to the Future Phone?

 

Departments

Industry News
Tackling the Questions of Non-Law Ownership with Regulatory Sandboxes

Tips and Trends
Seeing Is Believing When Managing Accounts Receivable the Right Way

ALA Now

ALA Faces
Members on the Move

At ALA
What’s Happening at Headquarters


Advertising Index

LawPay   •   Orion   •   Tabs3


Earn CE Credit

 

Members and nonmembers can read the article, then log in to take a test (members pay $49; nonmembers pay $69). If you pass with at least 70 percent, you will earn one CE credit hour. The goal is to help CLMs get the credits they need for recertification, but it will also count toward SHRM, HRCI or CPE credit. 

  • Click here to read “Where Are Your Markers” and earn one credit hour in self-management skills.
  • Click here to read “Leading Through Change” and earn one credit hour in organizational development.
  • Click here to read “Building a Better Budget” and earn one credit hour in financial management.
  • Click here to read “Cyber Risk Management: The Vital Role of Legal Management Professionals” and earn one credit hour in operations management.
  • Click here to read “A Lesson in Leadership for Legal Management Professionals” and earn one credit hour in communications and organizational management.
  • Click here to read “The Risk of Idolizing False Profits;” and earn one credit hour in financial management.
  • Click here to read “Responding to a Request for Proposal: Time, Money, People and the Law” and earn one credit hour in writing skills.
  • Click here to read “How to Ethically Oversee Trust Accounts,” and to earn one credit hour in financial management.
  • Click here to read “Confronting Addiction in the Law Firm,” and to earn one credit hour in substance abuse.
  • Click here to read “The Ever-Evolving World of Legal Ethics,” and to earn one credit hour in ethics.