A new era of mobility, collaboration & efficiencies within law firms
Individual fee earners are under pressure to collaborate with large corporate clients. The continuing globalisation of business means that clients are demanding seamless services, and legal firms have to collaborate with clients across a number of geographic boundaries. Many top 100 law firms have focused on specialisation, creating narrowly defined practice areas and rewarding professionals for developing their reputation in ever more precise niches. Recently, however, it has become apparent that to achieve competitive advantage, simply accumulating ‘star talent’ – lawyers with distinguished reputations and specialised expertise – is no longer enough. Now the focus is on maximising the productivity of star talent, sharing and integrating their specialised and diverse knowledge with the firm’s knowledge systems.