Strengthening Client Relationships During COVID-19

Client needs are evolving. Has your service model kept pace?
Learn how to innovate and adapt to build better, sustainable relationships.

This program will focus on:

Identifying changing client needs
Becoming more client-centric
Advancing client service through technology
Adapting your communication style
Maximizing social media and website content to reassure clients
Developing flexible fee arrangements and billing practices
Improving client retention and renewing relationships

Date/Time/Location

Wednesday, December 2, 2020 from 10:00 a.m. to 11:00 a.m. Pacific Time.  This is a live, online webinar. 

Register Now!

Registration is open for Strengthening Client Relationships During COVID-19.

Who Should Attend?

Lawyers, legal staff, conflict managers, or office administrators – anyone interested in improving client relationships during challenging times.

Group Discounts

Discounts available to firms who wish to register 5 or more attendees. Contact organizer to arrange a discount code before registering: beverly@oregonlawpracticemanagement.org.

Does the Program Include Written Materials?

Yes. Written materials will be distributed electronically to attendees.

Questions, Live Polling, and MCLE

Questions are welcome during the live event.  Attendees are also encouraged to participate in live, anonymous polling. OSB MCLE credit pending.

All Rights Reserved 2020 Beverly Michaelis

Billing Practices and Lawyer Compensation

The new OSB 2017 Economic Survey is available for download. In it, you’ll find a plethora of information about Oregon lawyers, including employment characteristics, compensation, billing practices, career satisfaction, and future plans.  Here are a few highlights:

Employment Characteristics

  • 28.3% of survey respondents reported being a member of at least one other state bar.
  • 86.1% reported working as an Oregon lawyer; 13.9% were not.
  • Lawyers who chose to work part-time did so to maintain work/family balance, pursue other career interests, or because they were semi-retired.
  • Slightly more than 60% of working Oregon lawyers reported being in private practice, with just under 20% in government positions.
  • The most dominant areas of private practice are business/corporate (transactional and litigation), civil litigation (plaintiff and defense), tax/estate planning, family law, and real estate/land use/environmental.
  • The most common practice size was a 1 lawyer office, followed by 3-6 lawyer offices, and 7-20 lawyer offices.

Compensation

  • The statewide mean compensation was $143,277.
  • The amount of compensation was highest in the Portland metro area and lowest on the Oregon coast.
  • The highest paying area of practice was real estate/land use/environmental.
  • Statewide, female lawyers reported earning less than male lawyers.
  • Peak earning years were 50-59, with compensation generally decreasing after age 60.

Billing Practices

  • Statewide, the mean hourly rate was $286, ranging from $226 to $324 regionally. (The highest reported hourly rate was $850 in Portland.)
  • By area of practice, the highest hourly rate was for business/corporate – litigation, with a mean of $333.  Other top billing areas were: real estate/land use/environmental, civil litigation – defendant (excluding insurance defense), and business/corporate – transactional.

Career Satisfaction

  • On a scale of 1-5, with 1 being very dissatisfied and 5 being very satisfied, lawyers statewide had a mean career satisfaction rate of 3.98. In general, the more years in practice, the greater a lawyer’s satisfaction with his/her career.
  • By location, employment, and area of practice, the most satisfied lawyers were:
    • In the Upper Willamette Valley
    • Working as judges or hearing officers
    • Practicing in civil litigation defense, real estate/land use/environmental, or criminal law (private bar).

Future Plans

  • 19.2% of lawyers statewide reported they were planning or contemplating retirement.
  • 6.7% were planning to leave the profession, but not retire.
  • Another 10.3% were planning to reduce their practices.

All Rights Reserved 2018 Beverly Michaelis

 

Making Money: Maximizing the Business Side of Practicing Law

Law is both a profession and a business. So what pearls of wisdom did the experts at the 2014 ABA TECHSHOW have to say about the business side of law practice? Read on…

How Are We Doing?

  • According to Lexis’s Chris Anderson, over 50% of solos have no accounting software at all. @MrsMacLawyer RT @lawyerist (My 2 cents: true and sadly ineffective – the return on investment in purchasing quality billing and accounting software can’t be overstated.)
  • Law firms used to raise rates 10% a year; now just about 3% says @gnawledge – @Business_of_Law
  • Key Business Challenges for Lawyers [INFOGRAPHIC] – MyCase Blog @nikiblack

Talking to Clients about Fees

  • Calling a client that’s behind on payment is a hard thing to do; manage expectations — says Steve Best of @affinitytech @Business_of_Law
  • Lawyers are not comfortable having conversations about fees (both sides) – feels “salesy” and “confrontational” says @gnawledge – @Business_of_Law

Setting Rates and Crafting Agreements: The Rule of 3

  • Law firm billing discounts are a 1-way street; once you give them, you’ll continue to give them; protect the price – @gnawledge – @Business_of_Law  (My thought: I don’t believe in continually marking down bills.  I do believe in offering early payment discounts.  The client saves money.  The lawyer is paid more quickly.  Win-win.)
  • Rule of 3 in law firm pricing: 1% cut in price = 3% cut in profit – @gnawledge – @Business_of_Law
  • Rule of 3 defined: Attorney bills at $300/hr; 1st 100 is salary; 2nd 100 is law firm cost; 3rd 100 is profit – @gnawledge – @Business_of_Law
  • Bills Out – Money In – #ABATECHSHOW session @PeggyGruenke makes this case for flat fees – @Business_of_Law
  • New meaning for AFA: “appropriate” fee arrangement – @gnawledge – @Business_of_Law
  • The better law firms are at pricing, the better it is for the market – @gnawledge – @Business_of_Law
  • Resources for law firm pricing: LMA Group (Legal Marketing Association) | ILTA. (International Legal Technology Association) @gnawledge – @Business_of_Law

Billing

  • Some firms have 300 billing codes…but just 20 are used. Need to think through codes – @gnawledge – @Business_of_Law
  • Billing codes are gamed; got a cap on one code, the hours get logged in another. @gnawledge – @Business_of_Law
  • Where’d those billable hours go? Right here in the matter management system – @Business_of_Law (Link to LexisNexis FirmManager “Money Finder.”)

Trends and Where to go from Here

  • Litigation finance is a growing trend — several financing companies have raised lots of capital @gnawledge – @Business_of_Law  (My input – this can be a slippery slope.)
  • The Essential Survival Guide for the Independent Attorney: summary here. @Business_of_Law
  • Session Summary: 5 Effective Law Firm Billing Techniques – @Business_of_Law

All Rights Reserved – Beverly Michaelis [2014]