Tilt Think
Originally published in The Legal Intelligencer
Covid has done what few incumbent leaders have managed to do: created a sense of urgency to ignite change. It is now the responsibility – nay, the obligation – of leaders to take advantage of this occasion; to use this global pandemic and societal turmoil, which has wreaked havoc on the lives and livelihoods of so many, to make a positive, lasting impact on their organizations and the world.
Please join us in congratulating the second graduating class of The Tilt Institute’s online, on-demand training program, CI for BD Professionals. These dedicated professionals spent more than 12 hours learning about how to elevate their use of data and analytics for competitive advantage. They studied everything from how to differentiate in an RFP process to storytelling and presentation to anatomy of a go-to-market plan.
The Tilt Institute and LawVision release a brand new report, The Expanding Role of Professional Development: Preparing Lawyers for Business, based on insights and perspectives from professional development leaders at more than 70 large law firms. Learn more about the report and download your complimentary copy today.
Read law.com’s coverage, Gap Remains as Firms Focus on Business, Professional Development by Patrick Smith.
Originally published in The Legal Intelligencer.
Amid the turmoil and upheaval caused by the global spread of COVID-19, many law firm leaders are facing unprecedented decisions. Whether due to actual exposure or the risk of such, escalating concerns necessitate choices which have implications that extend far beyond the firm’s financial health to the well-being of staff, clients, lawyers and their families. With all this at stake, it is natural to wonder, how equipped are lawyer leaders to handle such unique situations?
With over $1B being funneled into LegalTech in 2018 alone, and an estimated $65B of legal work at risk of being automated, per a McKinsey Global Institute Report, the opportunity to invest in your firm’s future is now. Organizations in virtually every sector are exploring ways to better leverage data into strategic advantage. Only a few succeed. Access a complimentary recording of this brief 30-minute webinar on the 7 essential elements to becoming a data-driven law firm. This is fast-moving, half-hour executive overview with tangible action steps and a clearly defined road map for change.
Originally published in The Legal Intelligencer.
In an era of “what’s in it for me,” leaders seeking to ensure the long-term well-being of the firm and its talent often find change initiatives especially challenging. Innovation, technology deployment, restructuring, collaborative business development and other important large-scale change efforts demand shifts in behavior and mindsets. They also require considerable investments of time and money. Few law firm compensation systems adequately accommodate rewarding these crucial shifts in behavior.
The Tilt Institute, Inc. is thrilled to announce the first graduating class of our online, on-demand training program, CI for BD Professionals.
Originally published in The Legal Intelligencer.
A new crop of leaders is gearing up to take the helm. Like their brethren before them, they have little in the way of formal experience or training for the roles they are about to inherit. More pressing, the demands on today’s lawyer leaders are more complex and nuanced than ever before.
Originally published in The Legal Intelligencer.
The next generation of elite law firms may have little in common with today’s leading global providers of legal services. Whereas historically top-performing law firms combine stellar talent with marqee clients, brand reputation and client-focused excellence to rise to the top, future leading law firms are equally likely to rise to power using a distinctly different recipe: namely, a mixture of market savvy, strategic agility and operational effectiveness powered by data.
Originally published in The Legal Intelligencer
Eighteen months later, the industry has seen a number of prominent headlines—firms embroiled in sexual harassment controversies and lawsuits, an untangling of the policies addressing (or not) those who engage in inappropriate behavior and, most recently, the uncovering of lawyers and firm leaders allegedly engaged in a sizable college admissions scandal.
Originally published in The Legal Intelligencer
The manner in which law firm leaders measure profitability has the potential to have a profound impact on behavior and motivation, particularly as more firms integrate this metric into their operational management and compensation systems. Yet the nuance involved in establishing profitability metrics opens the door for even the most well-intentioned to encourage and incentivize the wrong behaviors.
Orrick’s new vacation policy, according to news sources, offers to foot the bill for a getaway (up to $15,000) for Associates who hit their 2,400-hour minimum. It has been heralded as a move to encourage Associates to disconnect, unwind, gain balance and perspective and, ultimately, avoid the burnout and negative mental health impacts that plague the legal sector. Yet how does a bonus vacation, in reality, truly change the life or mental health of Associates who spend two-thirds of their waking weekday hours billing (not at work or commuting, as that figure would be greater); whose worth is measured and rewarded in 6-minute increments? It doesn’t.
Originally published in The Legal Intelligencer.
The rise of data—and the associated analytics and tools to turn that data into insight—has been a godsend in the eyes of many. Yet on the path to adopting more data-driven frameworks, pitfalls lurk. From the obvious (poor data) to the unforeseen (a purely analytical approach to motivating change), the data frontier is fraught with perils—dangers that, to the untrained, can have unintended and undesirable consequences.
Originally published in The American Lawyer.
Being in the middle has never been easy. The middle child, the middle manager, the midsize company—all come saddled with a litany of burdens from not being big enough to do something to being big enough not to do something. The middle is large enough to create expectations, yet not large enough to deploy vast resources in pursuit of a mission. It demands juggling priorities, enduring sacrifices and making sometimes difficult choices. The middle is where we find the Am Law Second Hundred.
In case you missed it, this recording of AmLaw’s webinar analyzing the Second Hundred delivers deep insight and perspectives on what the rankings tell us (and don’t) and why management and leadership are increasingly the true differentiators driving varying financial performance. A conversation between Nick Bruch, Gina Passarella and Marcie Borgal Shunk.
Originally published in The Legal Intelligencer.
There is a crisis brewing in law firms. In an era of volatility and transformation, law firms are now, more than ever, reliant on their culture, vision and operational approach to drive performance—all of which, at their core, rely on effective leadership. Multiple recent longitudinal analyses of the AmLaw 200 illustrate this connection, repudiating that size alone creates an advantage. Few firms, however, have the processes, tools and structure in place to develop and select the best leaders for their organizations. Moreover, the most revered leaders in law firms may not be those who have significant, positive, long-term impact on their firms.
Originally published on law.com.
Over the past decade the primary objective of many large law firms has been a simple one: get bigger. Firms of all sizes and regional origins have made deliberate moves (and some explicit announcements) that indicate their intention of becoming national or international players in the legal space. The trajectory from regional to super-regional to national to international is well-worn; and the benefits of being an international or national law firm seem indisputable. A new regional analysis of law firm geographic profiles and growth, however, reveals the payoff from being a truly national or international law firm just may not be what it used to be.
Originally published in The Legal Intelligencer.
Recently, Hugh A. Simons wrote for American Lawyer an enticing argument advocating elite law firms increase their rates. In one striking comment, Simons suggests elite law firms jettison any and all commodity services. While catering to high-end needs may certainly simplify operational management, the practicality of this approach is limited to no more than a handful of truly elite firms—leaving the vast majority of firms—including some of today’s highest performers— demanding a different modus operandi.
Originally published in New York Law Journal, January 2018.
Realization rates continue to decline in the legal industry, according to the most recent Georgetown Law/Peer Monitor report, demonstrating the growing disconnect between the hours worked and revenue generated by lawyers. As the connection between the billable hour and financial success becomes more tenuous, so too does the premise for advocating a highly leveraged business model comprised primarily of lawyers.
Originally published on Law.com, December 2017.
Recent news and awards indicate law firms are increasing their investments in innovation. Stories of recently launched innovation committees, R&D teams and idea labs routinely grace the pages of industry publications. Yet despite these investments, the trajectory of the industry as a whole seems to have remained largely unchanged. Why are innovation efforts by larger law firms failing to make a meaningful impact?
