Jan 31, 2007
Future Investments
Question: If a law firm could select only one area for future investment, where would you recommend that such investment be made?
Response: In their people – their intellectual capital. I am amazed at the minimal investment that law firms make in their staff. Law firms are in the knowledge business and their product is their intellectual knowledge. While law firms do invest in their attorneys, such is not the case with the staff. Although staff members are often on the front lines in dealing with clients, very few law firms are providing them with skill training in areas such as communication, marketing, client service, conflict management, effective writing and speaking, time management, computer applications, client complaint management, etc. By the way, attorneys need training in these areas as well. Why do law firms hire the cheapest talent they can find to fill the receptionist position when it is the receptionist who often has the initial contact with a new client. I find it amazing that firms spend huge amounts of money on advertising and marketing and they fail to invest in the other tools needed for effective new client intake. Small firms should consider assigning their receptionist the role of marketing coordinator with responsibility for assisting in the management of client relationships and the firm’s marketing program.
Posted at 11:09 AM in Human Resources, Strategy
Categories
- Career Management
- Client Service
- Coaching
- Compensation
- Competitive Business Models
- COVID-19
- Culture
- Financial Management
- Governance
- Human Resources
- Laterals
- Leadership
- Management
- Marketing
- Mergers
- New Firm Startup
- Offices and Facilities
- Partnership
- Practice Sale
- Profit Improvement
- Project Management
- Strategy
- Succession/Exit Strategies
- Technology
- Trends
- Work Life Balance