Last year we debuted a new benchmarking survey and report designed exclusively for practitioners of Labor & Employment law. We asked 400 attorneys from all over the country, working for various firm sizes, about their firm’s business development, marketing, technology usage and more.
As expected, the challenges reported most often by attorneys include lead generation for business development and finding new (and qualified!) talent. Up to half of all responding attorneys say they dealt with these particular challenges in the past year.
In dealing with the main challenge of lead generation – both finding new leads and having the time to pursue them - attorneys reported spending just over 10 percent of their working time on business development. This time was split about 80/20 between traditional business development – taking clients and potential clients out to meals and events, networking, etc – and responding to RFPs. These efforts led to an influx of 22 new clients and an RFP win rate of 33% for most firms over the past 18 months.
Looking at firms’ use of technology in their practice of labor and employment law, we found that email and paper documents were still ubiquitous, but that digital collaboration tools as well as social media were beginning to take hold. In fact, just over two-thirds of attorneys (69 percent) report using LinkedIn for business development and marketing, and nearly half (46 percent) use Facebook for the same.
Those were some of the interesting facts we discovered in last year’s survey. Now it’s time to roll out the 2018 version, including some new areas, such as practices surrounding research and docket monitoring. We are looking for as much input as possible. The more data we collect, the more robust the analysis can be. You don’t want your firm excluded from this benchmark!
If you work in a law firm with a Labor & Employment or Executive Compensation/Employee Benefits practice, we invite you to participate in the second annual Bloomberg Law Labor & Employment Practice Benchmarks Survey. All participants will receive a complimentary digital copy of the 2017 Labor & Employment Practices Benchmark report. This report will not be available for sale - access to the complete report will otherwise only be available to subscribers of Bloomberg Law.
The 2017 Labor & Employment Practices Benchmarks report will include:
• summaries of key findings of the survey, organized by major topic;
• an infographic overview of key statistics from the complete report, including percentages responding to using email for business, and use of social media including LinkedIn and Facebook;
• detailed profile statistics of the survey participants including title and firm size; and
• detailed infographics summarizing the findings of every chapter, including fee structure and rates, technology and social media, research and docket monitoring.
To ensure that your firm is included, please participate now: Click here to begin. The survey will close August 25, 2017.
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