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WHAT WE’RE WATCHING
LET’S TALK ABOUT FEELINGS - Law firms love to tout their teams of “trusted advisors,” but if communication is a key element of trust, why aren’t more firms being open with their clients? As Law.com’s Dan Packel recently reported, too few firms are conducting client feedback interviews and, as a result, are risking their hard-earned relationships with those clients every single day. And, as Law.com’s Christine Simmons writes in this week’s Law.com Barometer newsletter, that risk is heightened at a time when many firms are tripping over themselves to keep up with their competitors’ skyrocketing associate compensation—and looking to jack up rates to cover those costs. It’s pretty clear most firms aren’t checking with their clients before marching into battle in the associate pay wars. But that could be dangerous—because if there’s one thing clients hate, it’s surprises. “Those firms that explain their reasoning to clients for associate pay raises—or keeping pay flat—and explain how they could afford any changes are less likely to disrupt client relationships,” Simmons writes. “And if they don’t explain? It’s easy for a GC to try to connect the dots between a firm’s pay raise memo leaked to the press and a whopping legal bill.” To receive the Law.com Barometer directly to your inbox each week, click here.
