Using practical resources to drive revenues in a downturn economy is the title of a very interesting white paper published on the PLC US site. The article which has been written by Bruce MacEwen looks at how law firms are under greater pressure to protect and even increase revenue. But as the introduction to the article says "how can firms do more with less?"
According to the introduction the White paper then goes on to argue the following points:
- "All firms face the same problem: how to deal with associates who lack the practical understanding to work at a level of competence clients will pay for.
- US firms have largely ignored practical knowledge resources as a source of attorney support relative to other areas of investment.
- Having resources in place to achieve this practical understanding will get associates up to speed quicker and increase their realization rates - key profit-drivers in a downturn"