Corina Schnyder’s Post

Now that the hoopla of the publication of the 2024 Am Law 100 results is behind us, we are pleased to announce our next Leadership paper that challenges the status quo of law firm rankings and asks the questions we've all been thinking but not discussing: Are we measuring what truly matters? Year after year, the Am Law 100 and similar rankings captivate the legal industry with their snapshots of financial prowess, boiling down complex entities to profit per partner and other narrow metrics. But in this relentless pursuit of rank and individual accolade, are law firms losing touch with the very essence of their purpose? We will dig deep into the legal industry ratings and rankings, questioning whether the increasing fixation on personal financial success overshadows the broader, more important aspects of legal practice—client service, adaptability, and societal impact. It's time to confront the reality: By elevating individual lawyer ego, profit and profile above all else, might we be risking a growing disconnect from our clients and the wider communities in which we operate? Join the conversation as we explore the potential for a shift in how we define success in the legal profession. It's not just about profit per partner; it's about the health and future of our firms and ALL their stakeholders. Let's discuss what truly matters for the longevity and relevance of our profession in an evolving world. Stay tuned. #leadership #strategicleadership #lawfirms

Daring to ask the questions! Is the focus on the individual creating the risk of a disconnect with clients and the broader communities in which law firms operate? Join us for a conversation that will no doubt be interesting. Stay tuned for the next edition of the Orellium Advisory Services Leadership publication. #leadership #strategicleadership #lawfirms

Whether it’s revenue, partner profits, headcount or law firm rankings, there’s no shortage of metrics to choose from to rate law firms. But what's less immediately available is data on how clients rate the service they get from law firms. Over recent years, Legal 500 has been asking hundreds of thousands of clients how strongly they would recommend the firms they use to others. We’ve used this data to calculate a Net Promoter Score - a market research metric devised by Bain & Co - for every firm, meaning we can re-order firms by a completely new metric: how enthusiastically their clients recommend them. Of Legal Business Magazine's Global 100, Slaughter and May is the highest rated UK firm, but there are 35 other firms from around the world with higher scores ('...And You Won't Believe Who They Are', goes the clickbait headline I decided not to use). The top five UK heritage firms are listed below, and for Legal Business subscribers, the full run-down of Global 100 scores is in this article: https://lnkd.in/ebUPiwZh If you'd like to find out more, please do drop me a line.

Our thorough research process includes analyzing your firm’s work in a particular practice area. ➡️ We analyze feedback provided by clients or other professional references, such as responsiveness, cost-effectiveness, and understanding of business needs.   ➡️ Lawyer evaluations collected from Best Lawyer ballots are also examined.   ➡️ The final piece we explore is the industry leader interviews, where managing partners are invited to provide their assessments of the legal industry through the Law Firm Leader Survey.  ➡️ All the data is combined into an overall Best Law Firms score for each firm. We use a tiering system rather than ranking firms sequentially, since small differences often separate firms in overall score. When firms participate in this process, we can establish a more tailored evaluation for their Best Law Firms awards.  For more detailed information about our research process, visit our website: https://lnkd.in/gKNT8fxh  

I was recently published in the Daily Journal discussing the fast approaching deadline for entities to file their Beneficial Ownership Information Report under the new Corporate Transparency Act. Please talk to every small business owner you know to make sure they are aware that this needs to be filed. Check out my article below or my firm's blog to find out more.

We launch our Annual Report next week with an event in London. For those who can’t make it in person, we'll also be hosting a webinar the following week Join us to hear the findings from our 2024 report, which assesses responsible business activity in law firms. We will share more on the key trends across the legal industry and the leading firms overall. Link to sign up is in the comments

We have again maintained our top ranking in the Legal 500 2025 directory recently published. The independent annual guide ranks lawyers by reviewing detailed feedback from clients and the industry itself. Read our rankings here: https://lnkd.in/enJUT7TF

The LPM Frontiers research results for 2024 are in — and our report is out! Discover how the big changes, challenges and choices for your business compare with the experience of those leading other SME law firms across the market. READ NOW: https://bit.ly/3Jadsxi LPM has polled over 60 business leaders running UK SME firms in this annual snapshot of where technology and transformation strategy meet at a fascinating moment for the market. We also spoke to many in detail about the results, their implications, and connection to internal discussions, intentions and investment roadmaps. So, read on right now to learn: - Who and what are firms most likely to be keeping a watchful eye on within the competitive landscape? - How confident in the coming year’s financials do leaders feel, and which business transformation challenges are the top priorities to tackle? - What will this mean for investment in new or improved technology? - A clear direction of travel, what's driving SME firms to entrust more power to cloud platforms to manage their systems? - Which types of technology need the most urgent strategic action today — improvement, or indeed replacement? Our thanks to strategic business leaders at Arch Law Limited, Bellevue Law, EMW Law LLP - B Corp Certified, Ellisons Solicitors, Lawfront, Radiant Law and Inksters for discussing how all of this, and more, appears to them — plus to our partners on this year’s LPM Frontiers project, each bringing another welcome expert perspective on what we’ve discovered: Access Legal, Advanced, Elite Technology, NetDocuments, Osprey Approach Legal Software UK and Tessaract.io.

Hot off the LPM press is this year's innovation report! SME firms are seeing perhaps the biggest squeeze across their growth plans, how they tackle tech investments and who they should hire into the future to support these plans. The results of our survey and research support that. Download your copy today for free!

𝗥𝗮𝗶𝘀𝗶𝗻𝗴 𝗛𝗼𝘂𝗿𝗹𝘆 𝗕𝗶𝗹𝗹𝗶𝗻𝗴 𝗥𝗮𝘁𝗲𝘀 𝘁𝗼 𝗥𝗲𝗳𝗹𝗲𝗰𝘁 𝗬𝗼𝘂𝗿 𝗧𝗿𝘂𝗲 𝗩𝗮𝗹𝘂𝗲    How much is your expertise worth?    Don’t hesitate to raise your standard fees. Once upon a time, a set rate of $1000 seemed like a big ask, but these days it’s a standard price for a managing partner in a medium-sized firm. That is to say, the legal market is evolving, and so should your hourly rates. Setting a new price floor of $500 for new clients—excluding those referred by existing ones, of course— might sound like a steep climb for many lawyers, but you will be surprised by how easily it can get accepted, especially in transactional cases or business litigation.    When needed, most clients in cities like Los Angeles, San Francisco, New York, or Chicago will be willing to invest in an experienced attorney who delivers results. I understand the hesitation about increasing rates, but if your standard fee is accepted with little to no friction, that might be a sign that you are under the market value and leaving money on the table. By adjusting your rates up to $500 as the new floor, you not only reinforce the value of your work but also ensure that your practice remains competitive and sustainable in the long term.    Remember, your time and knowledge are invaluable, so you should be constantly pushing the envelope, taking the chance each quarter or so to increase your rates. Don't be afraid to assert your worth and set your fees accordingly, recognizing the true value you bring to your clients and the legal profession. Send me a quick message if you want to know where to start.    #RateIncrease #FeeSetting #LegalIndustry #ProfessionalGrowth #LegalProfessionals #LawFirmSuccess #LegalConsulting #KnowYourWorth