The landscape of artificial intelligence has undergone major developments since the release of ChatGPT just over a year ago, with 2023 marking a turning point with increased adoption.
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This article explores the link between law firm profitability and attorney compensation. It explains how firms can strike a balance that promotes their financial health while providing competitive compensation to their attorneys. Learn about best practices such as strategic compensation modeling, leveraging technology, focusing on high-value work, offering performance-based bonuses, investing in training & development, promoting collaboration, and ensuring transparency. Get helpful insights on how to create a profitable yet competitive law firm.
The client-firm relationship is evolving at an ever-increasing pace, with several macro-level trends combining to create conditions of continual disruption and change.