The results of the end-of-year partnership survey show increasing the proportion of female partners in law firms is more difficult than turning an oil tanker. There was a 4.8% growth in female partner numbers in the last 12 months, while male partner numbers actually declined slightly.
However, this seems to have less to do with the numbers of women being appointed, than predominantly male senior partners retiring. In fact, the percentage of women making partner has been steady at around 30% since 2011, after increasing from 25% in the December 2010 survey.
Drawing on Catapult Growth Partners’ real world, hands-on experience we have analyzed what distinguishes excellent marketing and business development teams in professional services firms. It's not rocket science, but it is surprising how few firms strive for, let alone achieve best practice.
Since the GFC price has become more important as a criterion influencing the buying behaviour of clients of corporate and commercial law firms, but only marginally so. This finding runs contrary to anecdotes and hype in the marketplace. A ground-breaking research-based report just released by Beaton Research + Consulting reveals the details and–with other chapters in the book–shows law firms and their clients how to sell and buy in smarter ways.
As you do in the professional services world, this weekend I am completing a presentation for the board of one of Australia's largest professional services firms. The Chairman is worried that her firm is focused mostly on the 'wrong things' and not addressing some really tough issues. She's asked for a 'warts and all assessment'. Good on her.
Some 200 UK senior and managing partners attending the Law Firm Strategic Leaders Forum in London on 24 October 2012 heard Dr George Beaton speaking about the challenges and opportunities facing large law firms the world over. (more…)
If you work in professional services, you've heard of George. One of the world's leading advisers and commentators on professional service firms strategy, George lives and breathes his work. A decade after founding the firm as a strategy consulting house, he realised the professions needed evidence if their strategies were going to succeed.
At the risk of repeating an earlier blog post, our ad in BRW magazine today emphasises the trailing performance of the engineering profession. On client service, the best-performing consulting engineering firm in Australia ranked only 50th out of the top 100 professional service firms in Beaton’s annual benchmarks study.
For nearly 40 years those working in market research firms, business schools and executives who base their decisions on evidence have understood and quoted Steven Kerr’s famous 1975 article ‘On the folly of rewarding A, while hoping for B’. In this post I argue too many professional services firms behave exactly as Kerr described, rewarding revenue growth while hoping for profit increases.
We hope the conversations that take place on Research. Reveal will be energetic, constructive and thought-provoking. To ensure the quality of the discussion, our moderating team will review all comments and may edit them for clarity, length, and relevance. Comments that are overly promotional, mean-spirited, or off-topic may be deleted per the moderators' judgment.
All postings become the property of Beaton Research + Consulting Pty Ltd.