Comments on: The Rate of Change… http://thoughtfullaw.com/2007/07/24/the-rate-of-change/ Empowering lawyers to anticipate the changes, realize the opportunities, face the challenges and embrace the expanding possibilities of the application of practice management concepts to the practice of law in innovative ways that provide service excellence. Thu, 21 Aug 2008 02:47:58 +0000 http://wordpress.org/?v=2.2 By: planning for retirement http://thoughtfullaw.com/2007/07/24/the-rate-of-change/#comment-86 planning for retirement Sat, 15 Sep 2007 02:26:48 +0000 http://thoughtfullaw.com/2007/07/24/the-rate-of-change/#comment-86 <strong>planning for retirement...</strong> There are a number of strategic advantages to generating insured income. First, if you select a fixed interest immediate annuity...more in my blog... planning for retirement…

There are a number of strategic advantages to generating insured income. First, if you select a fixed interest immediate annuity…more in my blog…

]]> By: pete smith http://thoughtfullaw.com/2007/07/24/the-rate-of-change/#comment-24 pete smith Thu, 09 Aug 2007 05:30:37 +0000 http://thoughtfullaw.com/2007/07/24/the-rate-of-change/#comment-24 Another great post. I've been ranting about all of the above topics for ages to anyone who will listen. Precious few do because most have their foreheads glued to their desks and timesheets. I agree that the vortex of a shrinking talent pool at the senior ranks (loss of baby-boomer partners in upper managment), the looming spectre of non-US firms becoming wildly capitalized and potentially threatening our shores (a la the Clementi report and the one publicized IPO) (OK, this is probably hyperbole somewhat, but still), and the need for increased 'emotional intelligence' or 'community intelligence' as you will. All of these will indeed place great pressures on firms. This will mean, of course, lots of pressure on recruiting and retention and lots of pressure to bring in more and more non-attorney management specialists. I'm also very curious to see how far the Clementi-issue proceeds. Again, you have nailed the major issues facing the practice. But I'm not worried, law firm practice was probably 20 years behind the best-pratices in business about 10 years ago. Now, in 2007, they are probably only 12 years behind--the trend is moving in the right direction. best regards and all that . . . . pete Another great post.

I’ve been ranting about all of the above topics for ages to anyone who will listen. Precious few do because most have their foreheads glued to their desks and timesheets.

I agree that the vortex of a shrinking talent pool at the senior ranks (loss of baby-boomer partners in upper managment), the looming spectre of non-US firms becoming wildly capitalized and potentially threatening our shores (a la the Clementi report and the one publicized IPO) (OK, this is probably hyperbole somewhat, but still), and the need for increased ‘emotional intelligence’ or ‘community intelligence’ as you will. All of these will indeed place great pressures on firms.

This will mean, of course, lots of pressure on recruiting and retention and lots of pressure to bring in more and more non-attorney management specialists. I’m also very curious to see how far the Clementi-issue proceeds.

Again, you have nailed the major issues facing the practice. But I’m not worried, law firm practice was probably 20 years behind the best-pratices in business about 10 years ago. Now, in 2007, they are probably only 12 years behind–the trend is moving in the right direction.

best regards and all that . . . .

pete

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