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How one law firm increased productivity by 355 chargeable hours per month (21st May 2013)

This well run Brisbane firm has been time recording for many years.  They know their software and its functionality well- or at least they thought they did. This war story will shock you.

In March this year, we introduced a workable Time Recording Policy into their firm. They have about 20 people time recording, ranging from PA’s to senior solicitors. They operate in what might be termed a “poor” or average location, in the outer suburbs.   We talked to the management first and adapted the template we normally provide, to suit the firm and its needs.

We provided a training session for staff including a Power Point demonstration and properly explained why the firm was doing time recording as well its importance from the firm’s perspective. We emphasised the benefits from the employee’s perspective and also from the client’s.  We trained them to utilize their software properly, in a practical way dealing with day-to-day real issues.

We have not finished with the training but look at the results to date: 

From July 2012 to March 2013 the average chargeable hours for the firm each month was 833 hours- this was before we introduced the new approach.  In March, we introduced the Policy and provided the Power Point demonstration training.

The results were immediate. From April to July 2013 the average chargeable hours produced was 1,158 hours!  An additional whopping 355 hours on average each month, as you can see in the graph.

So if you assume that the average hourly charge out rate is say, $200 ph, and apply that on a monthly basis you have an additional $71,090 each month.  Annually that’s $853,082.
We charge $330 per hour to attend and put this and other policies in place.  Now consider if we are a cost to the firm or a revenue generator!

If you feel like an overseas trip and want to have your firm generating better revenues, do what this firm owner did, and enjoy a well-earned overseas holiday. He did on the third month after this was introduced (and we didn’t even take that into account in the figures above)!