Bigger. Better. Both?
20 July, 2015
Pavlovian Pricing & Meritocracy Structures
Most of us are familiar with Pavlov’s classical conditioning experiments. It is therefore obvious to most that the best way to get the behaviour you want is to provide rewards for doing so, or at least refrain from punishing people for doing them. The flip side is that you have to make sure you’re not […]
13 July, 2015
Why clients of BigLaw firms value cost consciousness
Research by Beaton continues to show why clients of BigLaw firms value cost consciousness. If you understand what cost conscious really means to clients, this may not surprise you. But, did you also know that being well rated on cost consciousness by clients allows a firm to exercise price-setting discretion? In other words, you can raise your price – […]
8 July, 2015
When is a partner not a partner?
‘When is a partner not a partner?’ is an apt question with which to introduce this post from Ed Reeser and Patrick McKenna, two leading north American experts and commentators on law firm compensation. These U.S. trends and their consequences are increasingly apparent in Australia. Every law firm partner should be fully informed and take their own […]
7 July, 2015
Pricing and analytics: Houston, we have a problem!
The refrain; “If you don’t know where you’re going, any road will take you there”, is essentially a paraphrase of an exchange between Alice and the Cheshire Cat in Lewis Carroll’s ‘Alice in Wonderland’. Unfortunately, there are some strong parallels between Alice’s aimless wanderings and the approach that many firms apply to the pricing function. […]
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