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Are Law Schools Preparing Students for 21 st Century Practice?

Are Law Schools Preparing Students for 21 st Century Practice?. Terri Mottershead Director Griffith Law School Legal Practice Centre ALSA Council Meeting Brisbane 29 September 2012. Agenda. The “New Normal” Legal Industry Impact on Law Firms Impact on Law Schools

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Are Law Schools Preparing Students for 21 st Century Practice?

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  1. Are Law Schools Preparing Students for 21st Century Practice? Terri Mottershead Director Griffith Law School Legal Practice Centre ALSA Council Meeting Brisbane 29 September 2012

  2. Agenda • The “New Normal” Legal Industry • Impact on Law Firms • Impact on Law Schools • What Does the Future Hold? • Some Thoughts to End…

  3. The “New” Normal Legal Industry

  4. Drivers of Change

  5. Globalization has changed the leadership, management and business of law firms

  6. Technology has changed the type of work lawyers do, how the work is done and who does the work?

  7. Corporate counsel have become legal industry change agents

  8. Impact of Change on Law Firms

  9. Breakdown of Law Firm Work (Circa 2011) High Low Price Sensitivity & Leverage Value Focus Low High Source: Jordon Furlong, The rise of the super-boutique, August 19, 2011 Hildebrandt Baker Robbins, Process Management and Process Improvement Workshop (June 2010)

  10. USA: Source: Citi/Hildebrandt 2012 Client Advisory as in Adam Smith, Esq, Growth Is Dead: Part 2 (September 10, 2012)

  11. PROFIT VERSUS ADDING VALUE

  12. The classic business formula:Income – Expenses= Profit

  13. Income Billable work Increase by work volume but More work staying in-house or going to LPOs Increase by raising rates but Rate increases minimal, flat or decreasing DIFFERENTIATE & INNOVATE

  14. NEW Expenses • People • Retention • Highly skilled • Highly motivated • Focus on top performers • Top performers most highly remunerated • and most quickly promoted • Composite workforce • Turnover costs • Lack of skills cost • Lack of engagement costs • Absence of feedback costs • Mismatch of work to • experience level costs • Focus on remedial action costs • Lockstep remuneration favors mediocrity • Up or out model costs • Premises • Renegotiation? • Fixed versus remote? • Location? • Relocation of • support services? • Outsourcing • support services? • DATA TO MEASURE, MANAGE, ANALYZE & IMPROVE • FOCUS ON EFFICIENCY & INNOVATION

  15. BUSINESS AND STAFFING MODELS

  16. Business and Staffing Model Combinations Tweaking the Status Quo Business Model Staffing Model Partnership track (the main career path but also alternative career paths) Of Counsel Professional Managers but lawyers still very involved Growth/succession planning by: Lateral hiring Merger Globalization • Pyramid model • Reverse pyramid • Diamond

  17. Business and Staffing Model Combinations Alternative Business Structures Staffing Model Lawyers focus on legal work and professional managers administer (proactive mgt) Emphasis on using technology Multiple career paths Contract lawyers Flexible work arrangements Growth/succession planning by recruiting and retaining people based on work to be performed Globalization through law firm alliances Distinctive mix or sole focus on: • Mission critical work • Specialist (“boutique”) work • Commoditized work (LPO)

  18. AUSTRALIA

  19. AUSTRALIA

  20. UK

  21. USA

  22. Competencies and Career Paths

  23. Law Firm Competency Based Development Models Same model but different outcomes for different career paths Career Path Recruiting Advancement / Compensation Competency Model Development /Staffing Evaluation / Feedback Career Planning Career Path

  24. Typical Law Firm Competencies(Partnership Track Associates) • Project Management • Team building • Client service • Relationship building/networking • Self awareness • Adaptability/flexibility/ innovation/creativity • Communication • Ownership and accountability • Legal writing and research • Legal knowledge • Leadership • Ethics and professional responsibility • Problem solving • Community service NEW Usually number around 8-16

  25. FRAMEWORK: Law Firm Talent Management (Integrated Competency-Based Development Model) Learning (Training) Programs Work Experience (Work Assignment) Pro Bono Recruitment (Talent Inflow) Succession Planning (Talent Outflow) Competencies Benchmarks Evaluation Ongoing Feedback: Promotion Compensation Career Planning & Development: Coaching Mentoring Counseling Career Path Talent Development (Retention!) Path Career

  26. The Impact of Change on Law Schools

  27. Changes: Law Schools Mirror Law Firms Law Firms Law Schools Practical, Practical, Practical

  28. Stanford Law School Emphasis on learning by doing (“multi-dimensional JD”)

  29. Coursera Cross institution integrated online learning

  30. What Does the Future Hold?

  31. USA Source: Adam Smith, Esq, Growth Is Dead: Part 2 (September 10, 2012)

  32. Emerging Trends in Recruitment in the “New” Normal • Recruiting for new/different competencies • Laterals versus new hires • Must be able to “hit the ground running” • Leveraging Gen Y flexibility/mobility/techno-savvy/work/life balance focus • Target recruitment on bringing the talent “back home” and being a place to learn more, faster • Managing for mobility

  33. Some Thoughts To End…

  34. What got law firms and law schools here, will not get them there!

  35. Diversity

  36. Questions?

  37. Thank You

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