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Tag Archives: legal department metrics

The Top 5 Law Department Metrics for Insurers [Infographic]

The Top 5 Law Department Metrics for Insurers [Infographic]-header

Law departments within insurance companies demonstrate a high level of sophistication in corporate legal maturity.  Consider the following: Legal costs are lower. Median partner billing rates are the lowest among the practice areas tracked by the CounselLink® team. Rates tend to be stable. Legal rates in insurance work also have the least volatility with a score of 2 out of ... Read More »

10 Strategic Tips for Successful Law Department Budgeting

10 Strategic Tips for Successful Law Department Budgeting

Although law departments often tend to think of budgets as primarily tactical tools, budgets do have significant strategic value – as long as they’re the product of thorough planning and proper implementation. When thinking about implementing a budget process, it’s necessary to consider the various implications that stem from different strategic objectives. Corporate law departments can attack the challenge of ... Read More »

How to put Mojo in Law Department Metrics

How to put Mojo in Law Department Metrics

Note:  a version of this article first appeared in the Metropolitan Corporate Counsel magazine. Is your corporate law department sometimes viewed more as a cost center than as a key contributor to the company’s operational efficiency? It’s a common situation. Turning that perception on its head requires heavy lifting on the part of general counsels and law department operations personnel. ... Read More »

3 Ways Corporate Legal Operations Use Metrics

3 Ways Corporate Legal is Using Metrics

The recent conference that provided snapshots into the evolution of corporate legal operations maturity – also provided a glimpse into metrics and measurement. It’s important to note, as the CounselLink consulting team is quick to point out, legal departments metrics may vary based on the unique needs of a given company or industry. Sometimes legal departments fall into the habit ... Read More »

Objectives: How Corporate Legal can Demonstrate Business Value

Practical Tips How Corporate Legal can Demonstrate Business Value

Note:  this post was compiled and edited by a team. “Until you know what your objectives are, you can’t come up with metrics.” So said Kris Satkunas, director of Strategic Consulting to a room full of corporate legal professionals yesterday during the CounselLink Annual Conference, they should focus first on identifying their objectives and use that information as the basis ... Read More »

Metrics Strengthen Inside and Outside Counsel Relationships

Metrics Strengthen Inside and Outside Counsel Relationships

The legal community has some of “the worst papered relationships in the known universe,” according D. Casey Flaherty, a former litigator and in-house counsel with Kia Motors America. The disconnect, he says, is in documentation. The inside/outside counsel relationship is often awash in conflicting, outdated forms – the inside counsel billing guidelines, the outside counsel engagement letter – that either ... Read More »

5 Guidelines for Developing Corporate Legal Best Practice

5 Guidelines for Developing Corporate Legal Best Practice

There’s a good case to be made that leading companies avoid benchmarking the competition.  By definition, a company that follows what the competition is doing cannot be the leader. That’s in part, the gist of Mike Haysley’s point in a pitch published in the Metropolitan Corporate Counsel titled I Don’t Know What You Should Be Measuring, But You Do: Best ... Read More »

Legal Department Metrics: Cost vs. Value

legal department value metrics

When asked if metrics provide a useful and accurate measure of the legal department’s value to the business, 66% of GCs say “no” in a recent survey.  Is this at all surprising?  The legal department metrics, used in most organizations, are not aimed at measuring value – they measure the legal department’s cost to the organization.  Do I think my ... Read More »

5 Brief Data Points from a Survey of GCs

legal-work-consero

The Consero Group recently released its Winter 2014 General Counsel Data Survey, which is a brief snapshot into the market view from the general counsel perspective. According to Corporate Counsel, an ALM publication: The executive consulting firm, partnering with Applied Discovery, asked 10 questions of GCs who attended a December General Counsel Forum. Consero received 52 responses. While the sample ... Read More »

8 Distinctive Characteristics of the Billion Dollar Legal Department

billion-dollar-legal-dept

Looking across the entire sample in the 2013 Law Department Metrics Benchmarking  – the data indicates corporate legal departments employ roughly 8.3 fulltime employees, including 4.7 attorneys in the corporate legal department for every $1 billion in revenue. This looked like an interesting segment of the survey sample, so we drilled down on the data specific only to those respondents from largest companies.  Twenty-eight survey respondents ... Read More »