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Two 2023 financial benchmarks for law firms: The Law Society/Hazelwoods and the Institute of Legal Finance & Management (ILFM)/Crowe

Red Star Kim

So here are two 2023 benchmarks for law firms: The Law Society/Hazelwoods and the Institute of Legal Finance & Management (ILFM)/Crowe. from £891,693 in 2021 to £939,525 in 2022 Median net profits per equity partner increased by 39%, from £146,417 in 2020 to £203,199 in 2021. in 2021 to 58.9% in 2021 to 58.9%

Finance 130
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Managing Partners’ Forum Strategy Summit

Red Star Kim

My takeaways from the insightful facilitators and panellists were: Recruitment of lawyers is down on previous years whereas business support is up Increase in tax hires in law firms Increase in marketing roles (exceeding 2019 numbers) Whilst training/learning roles shrunk compared to 2019 there was an increase in employee relations roles Legal sector (..)

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Update on marketing and business development (M&BD) team structures

Red Star Kim

Here, the M&BD professionals – and perhaps those from other disciplines (such as finance or human resources) – will be formed into temporary project teams to assist with particular initiatives. And where firms invested in the area, the pricing teams were more likely to comprise finance professionals and experienced fee-earners.

Marketing 130
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How Marketing and Business Development (M&BD) Assistants can shine – Develop knowledge and skills, build personal brand and increase visibility

Red Star Kim

Some observed that as the pace of change continued relentlessly, we all needed to be constantly updating our knowledge and skills. Some guidance is provided: Be more visible – the PVI model (kimtasso.com) and Be visible, assert and challenge and remember your goals (kimtasso.com) Other points of interest How to engage fee-earners?

Marketing 130
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13 best invoicing software to facilitate your payment process in 2022

PandaDoc

5 from Finances Online, along with a user satisfaction score of 95%. So, whether you want to pay now or pay later, if you want to keep draft invoices or not, or if you want to compare finances, or embed options in invoices, everything can be done with a click of a button. 10 from the editors of Finances Online.

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Compensation in a Reinvented Work Environment

SalesGlobe

The notion of a “typical” workplace is evolving before our very eyes, and with it, remote work sales compensation plans. As quickly as the pandemic drove offices to remote work, major cities in the U.S. The latest BLS March 2022 report indicated that, since the, that number of people utilizing “telework” is down to 18%.

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The Future of Sales Roundtable: 2022 Pay Practices and Trends Survey Read-Out

SalesGlobe

So we’re gonna be talking about the 2022 Pay Practices and Trends survey and give you some insight into in terms of what we learned and what we see ahead. So you’re going to have your CFO, you probably finance and sales and who knows, maybe marketing in the room. So we’re going to get into it. Michelle Seger.

Sales 52