LPM

ICYMI – Weekly Digest 288

This week’s Digest, which was sent to subscribers earlier today, has links to some brilliant posts from around the world.

Some of the highlights of the week for me were:-

As usual so much great content this week – so make sure to check it all out here.

If you don’t already, you can subscribe here.

Have a great weekend all!

rws_01

ICYMI – WEEKLY DIGEST 284

This week’s Digest, which was sent to subscribers earlier today, has links to some brilliant posts from around the world.

Some of the highlights of the week for me were:-

As usual so much great content this week – so make sure to check it all out here.

If you don’t already, you can subscribe here.

Have a great weekend all!

rws_01

ICYMI – WEEKLY DIGEST 283

This week’s Digest, which was sent to subscribers earlier today, has links to some brilliant posts from around the world

Some of the highlights of the week for me were:-

As usual so much great content this week – so make sure to check it all out here.

If you don’t already, you can subscribe here.

Have a great weekend all!

rws_01

#ICYMI – Weekly Digest 282

This week’s Digest, which was sent to subscribers earlier today, has links to some brilliant posts from around the world

Some of the highlights of the week for me were:- 

As usual so much great content this week – so make sure to check it all out here.

If you don’t already, you can subscribe here.

Have a great weekend all!

rws_01

#ICYMI – WEEKLY DIGEST ISSUE 281

This week’s Digest, which was sent to subscribers earlier today, has links to some brilliant posts from around the world

Some of the highlights of the week for me were:-

And if you are looking for a bit of fun, read Why you should build LEGO sets at work‘ by Justin Pot.

Again though, so much great content this week – so make sure to check it all out here.

If you don’t already, you can subscribe here.

rws_01

#ICYMI – Weekly Digest Issue 280

This week’s Digest, which was sent to subscribers yesterday, once again contains links to some brilliant posts. Some of the highlights of the week for me were:-

Again though, so much great content this week – so make sure to check it all out here.

If you don’t already, you can subscribe here.

rws_01

#ICYMI – Weekly Digest Issue 278

This week’s Digest has been sent out to subscribers. Some of my highlight’s from the week were:

There has been so much great content this week – check it all out here.

If you don’t already, you can subscribe here.

Have a great weekend all!

rws_01

Two graphs chart the rapid ascent of the Legal Operations role

There’s a saying that overnight successes take 20 years to happen. I generally agree with that; it is rare indeed to come across a true overnight success. With the incredible ascent of the Legal Operations role within the legal ecosystem over the past five years, I am, however, willing to make an exception to this saying.

Background

CLOC – the Corporate Legal Operations Consortium – was co-founded by Mary O’Carroll and Betsi Roach in 2016. From my background reading I understand Mary and Betsi started CLOC as quasi book club membership group for quirky people with a legal operations title or elements of legal operation within their role.

Within a very short period of time, CLOC had set parameters around what they called the ‘Core 12’ skill-sets/roles of a Legal Operations professional. These include:

  1. Business Intelligence
  2. Financial Management
  3. Firm & Vendor Management
  4. Information Governance
  5. Knowledge Management
  6. Organization Optimization & Health
  7. Practice Operations
  8. Project/Program Management
  9. Service Delivery Models
  10. Strategic Planning
  11. Technology
  12. Training & Development

So far, so good. Nothing too exciting about this.

Legal Operations: Where are we today?

‘Fast’ forward (if you can) six years and CLOC and the role of Legal Operations has a massive global footprint, as evidenced by the release of two reports in that past month that clearly highlight the rapid ascent of this role within in-house legal teams.

The ACC Graph

The first was the ‘2020 Legal Operations Maturity Benchmarking Report‘, published by the Association of Corporate Counsel (ACC) in partnership with Wolters Kluwer Legal & Regulatory.

This Report contains the following telling graph – the massive increase in the percentage of [legal] departments with at least one legal operations professional.

Take that graph in for a second.

Now let’s give it some context.

In 2020, just before COVID, when discussing CLOC and its role in ‘Episode 27: Legal Operation is it the new legal business game changer‘ of The Legalpreneurs Sandbox, the panel of presenters at the Centre for Legal Innovation (lead by the wonderful Terri Mottershead), took the best past of an hour explaining who CLOC where and what the Legal Operations role was.

This is in no way a negative comment on the Centre – far from it. They are a leading edge think-tank of highly knowledgeable people talking an audience that know what is going on at the forefront of legal innovation.

Frankly, they’re a clever bunch.

And yet, even for them, the ascent of this ‘Legal Operations’ role was – not to put too fine a point on it – mind-blowing.

The Gartner Graph

So we come to the second graph, which comes from a Gartner report that I read earlier today.

Again, this graph blows my mind. But, in this case, so far as I am concerned, the mind-blowing detail isn’t in the astronomical rise of Legal Operations role (which I think relies heavily on the ACC graph above), as it is in the number of so-called ‘non-lawyers’ who are doing this role.

If the growth in that yellow box doesn’t have you shaking your head, go back and take another look at the skill in CLOC’s Core 12 above. Then tell yourself that a ‘non-lawyer’ is in charge of those skills.

So what does this mean for law firms going forward?

The honest answer is, I don’t know.

I have yet to to decide exactly where the role of Legal Operations fits. Clearly this is an important role that will have a significant role to play in the day-to-day running of a legal team. But how do the tasks of Firm Vendor Management, Service Delivery Models and Strategic Planning fit with the role Procurement plays?

Truth is, I don’t yet know.

What these charts do show me though is that the role of Legal Operations here is to stay. We best get used to. And we best get used to working with them. So make sure it a discussion topic within your firm. And, I suspect you will actually be seeing this role playing out in your firm – with a ‘non-lawyer’ in charge!

As always, the above represent my own thoughts only and would love to hear yours.

res_01

Survey: Top 5 Reasons Clients Switch Firms

If you’ve recently lost a client to a competitor and have been wondering how that happened, wonder no longer. The recently published ‘2020 Future Ready Lawyer Survey: Performance Drivers‘ by Wolters Kluner has the answer.

Surveying 700 in-house and private practice lawyers across the US and EU in January 2020, this is probably the most comprehensive survey post COVID (although most of us were not entirely sure what this meant in January so I look forward to a survey report that has been conducted post March this year).

The Top 5 reasons cited as to why a client might leave your firm are:

  1. The client no longer trusts your firm can meet their needs,
  2. Your firm doesn’t specialise in the area of law needed by the client,
  3. Your firm failed to communicate its value proposition properly,
  4. Your firm did not demonstrate efficiency and productivity, and
  5. Your firm’s leverage was/is all wrong.

And three of these are essentially because you messed up on sourcing, communicating and delivering on your pricing promise.

Take-away top tip: want to make sure you keep clients and keep them happy – make sure you (and your team):

  • understand(s) your value proposition and are able to communicate this,
  • get your team’s leverage right [hint: don’t hoard work at the top end just so you can meet budget this year!], and
  • understand the scope of what you are being asked to do and project manage both the scope and the client expectations (especially if out of scope creep occurs).

Manage this well, and you’ll be three-fifths of the way to keeping your client happy!

Demonstrate Efficiency

As a bonus, think about how you demonstrate efficiency to your client.

  • Is this by saying you have the relevant expertise/experience so that you can do this faster than others,
  • Is this by saying you have the appropriate IT systems that allow you to get the job done faster, or
  • Does efficiency even really matter – should the conversation not be about being an effective lawyer?

As always, these just represent my thoughts and always interested to hear your views.

rws_01

 

 

Tribes, Teams and Pricing the ‘New Normal’

The goal isn’t to find people who have already decided that they urgently want to go where you are going. The goal is to find a community of people that desire to be in sync and who have a bias in favor of the action you want them to take.

Seth Godin

TRIBES

In around 2009 I recall reading Seth Godin’s, then recently published, blockbuster ‘Tribes: We Need You to Lead Us‘ and thinking this would have a profound impact on the way clients engage law firms. To give this thought some context, it was around the same time as we had started talking about a new fad called ‘unbundled legal services‘ (which would later also become known as ‘limited scope representation‘ – see ‘The great unbundling of legal work‘ in the Australian Financial Review). It was also a time when ‘disaggregation‘ and the rise of Legal Process Outsourcing (LPOs) (predominately in India at that time but later this would extend to South East Asia and South Asia) would have many of us who worked on bids and tenders discussing issues around disruption of the legal services supply chain – if for no other reason than clients were asking us to provide answers to these questions in their requests for tenders.

A cold wind, amounting to real structural change, in the way clients purchased their legal services was coming (Pfizer Legal Alliance).

THE ‘NEW NORMAL 1.0’

Fast forward a decade and probably the only person who still talks to me about Seth’s Tribes is my good friend Julian Summerhayes, and it is never within the context of an RFT or legal services more broadly.

Nope, in short tribes, disaggregation and unbundling, while definitely remaining vogue, never really had the impact and penetration that I – and I would suggest many others – thought they would.

The ‘New Normal 1.0’ had, to all practical purposes, failed.

KRYPTONITE TO THE ‘NEW NORMAL’ – TEAMS

Probably the biggest obstacle to the growth of tribes post 2009 has been the role that teams have historically played within the legal profession.

Since the times of Dickens a junior apprentice lawyer has worked with, and been mentored by, their senior (supervising) partner. It has always been thus, and with it has come an almost umbilical cord tie between lawyers who have worked in the same team.

Many an in-house General Counsel has sat at the foot of the table of the private practice partner to whom they send instructions. A relationship that has been forged within the confines of a team structure.

TRIBES REBOOTED – TRIBES 2.0

It’s my opinion that one of the biggest likely outcomes COVID-19 will have on the profession is the re-emergence of tribes – tribes 2.0!

There are a number of reasons why I think this might be the case, but probably the biggest is that in-house counsel have, over the past three months, become used to working with remote teams.

It should not, then, be too far removed to say that in-house counsel will be happy working with subject matter experts across firms who can enable them to achieve their objectives rather than with an individual firm that might get them across the line.

In short, on the right deal, in-house counsel will be happy to work with a group of lawyers from various law firms rather than one firm – a tribe over a team.

THE CHALLENGES

Moving from teams to tribes is not a foregone conclusion, it faces challenges.

High among these will be:

  • How is risk allocated?
  • Who wears the professional indemnity risk?

My own view is that these can be overcome with:

  • properly scoped Engagement Letters
  • proper use of Legal Project Management
  • a good understanding of Workflow Process Methodology

But that still leaves the issue: How do we price the ‘New Normal 2.0’?

HOW TO PRICE THE ‘NEW NORMAL 2.0’?

The cynic in me says that many law firms will not have the first idea how to price the New Normal 2.0. This presents a significant problem because if they cannot price it, then they cannot sell it (pricing still remains the principal form of credentialisation despite, or rather because of, whatever experience you claim to have).

ONE ANSWER – THE ROLE OF SCOPE PRICING IN THE ‘NEW NORMAL 2.0’

Scope pricing will play a critical role in the pricing in the ‘New Normal 2.0’.

Unlike a fixed fee, capped or fee estimate pricing, scope pricing does it exactly what it says on the tin – it prices to the scope of work being undertaken by the relevant lawyer. This means that proper use of scope pricing should allow in-house to teams to unbundle the legal work within their project – either between the role the in-house plays and the role the private practice firm plays; or, in the case of this post, the role that multiple lawyers with subject matter expertise from various firms play in a project.

And, if done properly, the biggest upside to scope pricing over any other type of pricing of legal services is that, by definition, there really shouldn’t be any scope creep – what you see [in the tin] is what you get!

rws_01