Make Profitability Management Part Of Your Law Firm Culture

Law360 (May 10, 2021, 5:06 PM EDT) -- In the post-COVID-19 world, the legal industry faces several critical — and new — challenges. Among the most important is an emerging need to build skills around profitability management.

While profitability has been an increasing focus of law firm leadership for some time, profitability management as a survival skill is now a feature of the industry, and institutional profitability management skills will be critical as a survival mechanism for law firms everywhere.

The legal press is chattering extensively about just how fast the profitability of major law firms is growing — and it is, indeed, growing fast. So why is managing it...

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