Pi consultants have extensive experience working with Professional Firms, such as Law firms or othercorporate entities offering business services.The successful firm of any type has several key commonalities for which Pi offers quantitative modeling solutions.Successful Professional Firms, regardless of the service have key commonalities and requirements for successful operation that lend themselves to quantitative analyses.Among these are:
Retention of talented professionals and staff
Profitable firm growth through associate hires, laterals or smaller firm acquisitions
Increased profitability through use of optimal alternative billing methods:fixed price vs. billable hours with optimized cost estimation.
Optimize Firm Growth Strategies
Optimize Attorney Retention
Corporate Program Facilitation
The Pi approach to quantitative analytics for Professional Firms
Retaining Talented Professionals and Staff Successful firms are able to attract and retain talented professionals and staff. When talented professionals and staff leave, there are losses on the return of investment, productivity, firm reputation, and the loss of talented professionals needed for future growth. Our talent retention programs include:
Statistical analysis for identifying the key organizational drivers for the low retention of specific types of firm professionals and staff.
Identification of changes required for retention of key professional and staff including new career paths.
Facilitated cultural change initiatives to gain firm support for change and to guide effective change processes.
Marketing consulting relating the positive results of organization change processes to attract and retain new talent.
Profitably Growing Your Firm Hiring associates, laterals, practice groups or acquiring a smaller firm, can achieve organization growth. But, organizational growth does not mean increased profitability We provide the following services to enhance profitable firm growth:
Using statistical analysis to identify the “best fit” growth hiring strategies.
Facilitation of internal management processes to gain “best fit” hiring decisions.
Market consulting to gain the “right” associates, laterals and practice groups.
Increasing Your Competitive Advantage Through Alternative Billing
Law firms and other professional service firms are increasingly faced with client demands for alternative billing arrangements.
We assist firms in creating economically sound alternative billing arrangements based on:
Mathematical analysis of existing processes and costs of producing sophisticated services to complex client problems and needs
Effective and profitable alterative billing pricing structures based on our analysis of firm information.
Consulting services for building firm consensus on the effective, profitable use of alternative billing arrangements.
Marketing consulting to build on the competitive advantage based on alternative billing arrangements.
