Though its benefits may be modest at best in many cases, the lateral recruiting boom of recent years shows no signs of slowing down. And while most large law firms identify revenue growth as their top priority, many are falling short when it comes to monitoring the loyalty and satisfaction of the clients that produce that revenue.
Those are two of the key findings of a report, “Thinking Like Your Client: Strategic Planning in Law Firms,” released Oct. 23 by LexisNexis and Am Law Daily affiliate ALM Legal Intelligence. The underlying question at the heart of the report, which summarizes the results of a survey of 79 leaders of Am Law 200-sized firms, is how well large law firms are faring in terms of operating as businesses. The answer is not overwhelmingly positive.
