- Communicating with clients, other lawyers, judges, and any other involved parties.
- Advising clients through every step of the legal process.
- Conducting research and analysing legal problems.
- Preparing and filing legal documentation.
- Interpreting the law and regulations for clients.
- Preparing facts for clients in all forms (i.e. verbally and in writing); and working on their behalf.
With all of these responsibilities, it can be difficult to understand why a firm's workload is not translating into profits. To help achieve clarity into this matter, there is an effective tool that could break down how a lawyer and their staff are spending their time; and if it is being segmented in an efficient manner.
What is Performance Management?
Performance management is referred to as a process that provides accountability, feedback, and performance results (via performance reviews), to assist a company in achieving its organisational objectives.
What Are the Benefits of Performance Management Systems?
The benefits associated with performance management systems include:
- Motivation - Motivation is a key advantage of performance management systems. Staff are fully aware of the positive outcomes that could stem from their outstanding performance, thus motivating them to improve upon their shortcomings once presented with the information, in hopes of reaping the rewards.
- Company Morale - There is a distinct correlation between motivation and company morale. Highly motivated employees are more inclined to work more efficiently, which in turn leads to more success in the workplace and makes management happy. High employee morale allows management to get more output per hour out of their staff, which boosts productivity and lowers a firm's labour cost.
- Employee Retention – Employee retention is a big money saver for law firms. Many are unaware of the true cost associated with onboarding and offboarding employees, once they choose to leave or are let go. Costs embedded within the process include time and funds spent on job board posting in search of suitable candidates, interviewing said candidates, and training new hires. Performance management systems like LawMaster's dashboards equip management with the knowledge needed to help keep employees motivated, in good spirits, and in pursuit of company objectives.
- Consistency - Performance management systems allow leadership teams to establish a proven profile, depicting performance characteristics of an ideal candidate for a particular position. Understanding which employee fits a role best, works in a firm's favour, by mitigating many of the issues that come with hiring the wrong person for a position (i.e., filing errors that cause time to be wasted or a company's reputation to take a ding).
- Organisation – Organisation is one of, if not the most important element to a successful legal practice. Improved organisation leads to higher profit margins due to greater time efficiency and a more relaxed work environment. Performance management systems help keep lawyers and staff on track, while setting a precedent for what is acceptable in regards to the performance of new hires.
The reasoning behind performance reviews include:
- Helping management identify the training needs of staff.
- Helping identify staff that perform well and those that are falling off.
- Helping provide employee performance feedback.
- Helping management make decisions pertaining to retaining or terminating staff.
For law firms in search of a proven performance management system that can boost company performance by 30%, consider LawMaster's law practice technology, contact us today.