Practice group survey reveals struggles in performance

March 15, 2012
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A recent survey by law firm consultancy Altman Weil shows that about half of practice groups and leaders are receiving only fair or even poor ratings from their managing partners.

The Altman Weil Practice Group Performance Survey polled managing partners at 855 law firms with 50 or more lawyers in the U.S. and Canada and received completed surveys from 81 firms. The results: only 49 percent of practice groups and 52 percent of group leaders were rated as excellent or very good in overall performance.

The top three factors managing partners rated as important in measuring practice group success are acquisition of new business, revenue growth and profitability.

According to the survey, 42 percent of practice groups are excellent or very good in generating new business and 41 percent of groups are excellent or very good at cross-selling other firm practices. In firms where practice group leader training is required, business development and cross-selling performance jumped around 15 percentage points higher than the average score. Yet, the survey found that only 13 percent of law firms require mandatory leadership training for their practice group leaders.

The full survey can be downloaded at www.altmanweil.com/PGPerformanceSurvey.
 

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