Presentation to the Association of Pro Bono Counsel
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Presentation to the Association of Pro Bono Counsel Timothy B. Corcoran Pamela Woldow, Esq. Altman Weil, Inc. October 15, 2009
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Presentation to the Association of Pro Bono Counsel. Timothy B. Corcoran Pamela Woldow, Esq. Altman Weil, Inc. October 15, 2009. 2010. The rules have changed…. … but have the R.U.L.E.S.?. What are the R.U.L.E.S.?. R ealization of billing rates U tilization of lawyer time - PowerPoint PPT Presentation
Transcript of Presentation to the Association of Pro Bono Counsel
Presentation to the Association of Pro Bono Counsel
Timothy B. Corcoran
Pamela Woldow, Esq.
Altman Weil, Inc.
October 15, 2009
2010
The rules have changed…
… but have the R.U.L.E.S.?
What are the R.U.L.E.S.?
• Realization of billing rates• Utilization of lawyer time• Leverage of lawyers• Expense control• Speed of billing and collections
But what if the clients just say no?
Is your law department facing budget cuts in 2009?
Altman Weil CLO Survey, 2009
No 25.2%
Yes 74.8%
What steps have outside counsel taken to improve the working relationship with your Law Department?
None!
Altman Weil CLO Survey, 2009
4.5%
4.1%
3.7%
3.7%
2.8%
1.6%
5.7%
8.1%
39.4%
18.3%
13.8%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
None
Communication
Fees / Billing
Training / CLE
Responsiveness
Technology
Social Events
Satisfaction Surveys
Partnering
Improved Project Staffing
Newsletters
The New Math
• Profits = Revenue less Expenses• COGS must be lower• Predictability improves retention• Responsiveness improves retention• Retention reduces COS
Alternative Fee Arrangements
• It’s not just about discounts• Predictability vs. uncertainty• Experience reduces risk• Alters how matters are staffed and
managed
20092009
The Big SqueezeThe Big Squeeze
Presented byPresented by
Pamela Woldow, Esq.Pamela Woldow, Esq.
Associate Salaries Cut 10 – 30%• Holland & Knight• Akerman Senterfitt• Ruden McClosky• Greenberg Traurig• Alston & Bird• Troutman Sanders• Howard Rice Nemerovski• Allen Matkins• Blank Rome• Schnader Harrison• Perkins Coie• Nixon Peabody
• Buchanan Ingersoll• DLA Piper• Dorsey & Whitney• Drinker Biddle• Howrey• Kaye Scholer• Kilpatrick Stockton• Pillsbury Winthrop• Snell & Wilmer• Venable • King & Spalding• Seyfarth Shaw
Bye Bye Lockstep!• Orrick• Bingham McCutchen• Squire Sanders• Howrey• Dorsey & Whitney• Townsend and
Townsend and Crew• McKenna Long
The New Normal
• It doesn’t make sense to us that everybody gets an increase just because they were alive and were here and practicing for many years.
Jeff Haidet, Chairman, McKenna Long
•
Maslow’s Triangle
Self Actualization
Esteem
Belonging
Safety & Security
Survival
Pro-Activity Plan
• A Seat at the Table
• Be Prepared
• Speak the Language
• Match Needs Now
The Scrooge Effect
Hard MessageInexpensive training
Experience = higher rates
Faster ROI
Enhance client trust
RFPs
Soft MessageWe have commitments
Helps community
Non-profs “hard hit”
Societal value
Good for recruitment
Firm culture
Win-Win-Win-Win-Win• Flexibility for ups & downs• Effective & least expensive training for
associates• Value for clients• Expedited ROI for firm -------------------------------------------------• Enhance reputation, help community
References
• 2009 NALP Associate Salary Survey • But We Just Reviewed Our Lockstep Six Months
Ago!? AdamSmithEsq, 7.31.09• Bingham Announces New Pay System,
Law360,10.6.09• Orrick Gives the Boot to Lockstep-Associate Model,
blogs.wsj.com/law, 7.1.09 • Salary models at many major law firms changing,
www.finance-commerce.com, 10.5.09
