Ask any lawyer what they despise most about working in a law firm and without a hint of hesitation the response will undoubtedly be TIMESHEETS!!!!
Whether directly or indirectly it can be a major source of consternation at all levels from partners to financial controllers to junior lawyers. In fact it is one of the major reasons lawyers ‘opt out’ of private practice and is also said to be a significant contributor to the high rates of depression amongst lawyers.
So if it is true that the tide is finally turning on what some believe to be the archaic and inefficient practice of time-based billing then not only will this be a win for buyers of legal services but also ‘potentially’ a huge win for private practice lawyers and even the law firms themselves.
One would have to think that if the drudgery of recording your working day in 6 minute units is enough to drive talented lawyers away from private practice then a move to an alternative billing model will surely be a cause for celebration for some lawyers; and it may just provide others with a new lease on ‘law firm life’!
Perth firm Lavan Legal is just one firm leading the way on abolishing ‘billable hours’. According to deputy managing partner Dean Hely in the Legal Affairs section of The Australian, clients were the main driver for this change; no doubt the potential knock-on effect in regards to talent retention will be a welcomed bonus.
Without wanting to get too far ahead of ourselves, for now it may just be ‘a watch this space’.
