In recent years, in-house law departments have grown considerably – they have needed to in order to face the various legal and compliance challenges that organizations of all sizes have to deal with as a result of increased regulation and litigation across all sectors.
With this rapid expansion in mind, managers need to ensure that the law department has the appropriate processes, resources, and infrastructure to operate at maximum efficiency.
From employing effective metrics to judge performance to embedding the most appropriate technology and processes into the workforce, and developing team cohesion to encouraging diversity and inclusion in in-house staffing – there are many issues and goals to balance in order to properly manage the modern law department.
Building the Law Department of Tomorrow discusses the above and more, shining a light on effective methods of managing a large and modern law department. With expert contributions from authors with experience of working both in and alongside in-house law departments, it contains invaluable advice on aligning a law department’s strategy with its practice, to achieve success.
About the authors
Chapter 1: Legal metrics in 2017 and beyond – Metrics that matter
- Background – we all measure
- What do we mean by these financial metrics?
- How can we identify and address the objections and challenges in aligning lawyer performance with these financial value measures?
- Explore different techniques to successfully implement this approach
- What law firms can do to be better aligned with the direction of clients
Chapter 2: How law departments can use Legal Project Management to enhance performance and add value
- The threshold – Defining the role of the legal department
- Five questions to maintain focus
- Four stages of a matter
- Pick the right tool
Chapter 3: The evolving in-house counsel role requires new skills
- Recent shift in in-house responsibility
- Borrow from outside the law
- Don’t go it alone with vendor selection
- Securing approval for your projects
- Lessons learned
- Project management
- New in-house skills
Chapter 4: Legal operations – Moving innovation from the back to the front
- Back office legal operations
- Front office legal operations
- Areas ripe for innovation
Chapter 5: The law department of the future – What will good look like?
- Creating the right culture
- Succession planning
- The future of work
Chapter 6: The law department of today and why it needs to change
- Embrace technology and have the best in your legal team
- In-house lawyers need to be business people first and foremost
- The law department of tomorrow – a breeding ground for leaders
- The law department of tomorrow – a department of wellbeing
Chapter 7: You can do more with less – an innovative and holistic approach
- Learn from your litigation experience
- Perform an in-depth risk assessment of the business
- Collaborative problem-solving with holistic solutions
- Leverage your experiences with a strategic litigation management approach
- Building the Law Department of Tomorrow
Chapter 8: Value-based pricing – How to transition from hourly rates for efficiency, productivity and cost savings
- Managing legal spend
- The hourly fee
- The difference between price and value
- Pricing types
- Determining actual value
- Value = Benefit – Cost
- Buyer segmentation by value perception
- Value drivers
- What is value-based pricing?
- How do you create a value-based price?
- Shadow billing
- Value-based structures and metrics
- Typical value-based pricing arrangements
- Conclusion – Benefits of value-based pricing
Chapter 9: Pricing legal work is a two-way street
- Market disruptions drive change… sometimes
- Lower cost inefficiency is still inefficiency
- What we really need is continuous improvement
- Collaborative pricing
- Getting there from here
- Next steps for law departments
- Next steps for law firms
Chapter 10: Changing relationship dynamics – Legal nexus of forces
- Client sophistication
- Change in competition
- Law firm innovation
- Emerging technology
- Conclusion – disrupters of the disrupters
Chapter 11: Legal diversity – Moving from rhetoric to action
- What in-house law departments are doing to improve diversity at firms
- What in-house law departments are doing to improve diversity internally
- Community outreach
Chapter 12: Waste not, want not – The challenge and promise of organizational health in the law department of the future
- Is the greatest waste the failure to use the right tools and systems?
- Does the greatest waste flow from outside counsel’s inefficiencies?
- Are lean and other process improvement disciplines the solution?
- Is there an even greater waste?
- What if?