52% NA, 48% UK, 9% APAC firms have access to data about how matters are resourced based on DEI requirements and arguably that is backward-looking data based on historical billable hours, not forward-looking data based on skills and availability. Additionally, only 47% NA, 43% UK, 16% APAC can see skill enhancing opportunities available for associate career development – undermining any drive to improve equitable resource allocation to support the goals of individuals and their development into better lawyers. The more information a firm has about capacity, talents, experience, and development expectations, the more intelligent and effective the resource allocation process.
Operationalising Resource Management
As firms look to fast track their adoption of operationalised Resource Management, there is growing investment in people, process and technology: 88% NA, 75% UK, and 30% APAC firms are prioritising the implementation of Resource Management technology over the next 24 months.
Resource Management software can provide firms with a single source of information, from lawyer skill sets, experience, interests and capacity to real-time visibility of the current workload for individuals and teams. Resource Managers can use powerful search tools to find the right individual for each matter, even post requests for individuals while requesting specific skills and experience.
Positively, the majority of firms now have dedicated people (82% NA, 71% UK, 52% APAC) and dedicated processes (84% NA, 78% UK and 55% APAC) in place to effectively resource matters. Creating dedicated resource management people, supported by excellent, firm-wide processes is a fantastic start but firms also need the right technology to truly transform resource management and address the challenges highlighted in this report – from profitability and client relationships to DEI.
The adoption of people, process and technology will overcome the gaps in information and workflow currently hampering firms in their efforts to improve their focus on both profitability and people throughout the resource management process. Armed with a resource management solution, the process becomes not only faster and more equitable, but it also frees up significant additional time for partners that was previously spent on non-fee earning activity.
This was an excerpt from The Legal Resource Management Report. Access the full report to dive deeper into the findings from over 900 legal management professionals:
The largest report of its kind, polling over 900 legal management professionals from firms of 50+ lawyers in the UK, North America and APAC. See what they said....