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Law Firm Presentation
Stephanie A. ConduffJames J. LinhardtBryan C. HollandWilliam M. Jones
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The Role of Happiness, Productivity and Sustainability of Lawyering
Stephanie A. Conduff
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Why Happiness Matters
To Law Firms/Employers…
To Legal Professionals….
To the Perception of the Profession…
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Business & Law
Comparative Analysis
“Happiness in Business or Law” by Peter Huang “… happiness and life satisfaction are both only parts of
the first of these five elements of well-being: positive emotion, engagement, positive relationships, meaning and accomplishment … (PERMA).”
Return on Investment (ROI) for companies typically focused on making money should by cultivating well-being in terms of PERMA.
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Clicker Question
There are 3 main approaches to work from perspectives of business and law professionals …
Choose A if: “It’s just a job, meaning one’s principal focus is on financial rewards instead of intrinsic rewards such as interests. What matters is money, so higher pay can motivate switching jobs.”
Choose B if: “It’s more of a career, meaning one cares about advancement. One desires to climb as far as possible on a career ladder or be among those most highly-regarded professionals in one’s field. What matters is power, prestige and status derived from work.”
Choose C if: “It’s really a calling, meaning one derives inspiration from work itself. What matters is fulfillment and satisfaction from work that is well-done, as opposed to financial gain or career advancement.”
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Results
The majority, 45%, chose A “It’s just a job, meaning one’s principal focus is on financial rewards...”
Close second, 36%, chose C, ““It’s really a calling, meaning one derives inspiration from work itself…”
Remaining of class, 18%, chose B, “It’s more of a career, meaning one cares about advancement…”
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Positive Experiences Each Day
Harvard Business Review, January 2012
Power of Repetition
Importance of Perspective
Importance in the Work Place
Profitability
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Clicker Question
Choose A if…
“I believe students enter law school happy and then become less happy and/or unhappy during law school. This then continues into the legal profession.”
Choose B if…
“I believe the demands on legal professionals makes for an unhappy life.”
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Work Place Well-BeingActivity
1. Please Divide Into 3 Groups
2. Please Take a Post-It Note & Marker
3. Please Collaborate & Engage in Group Discussion for a Few Minutes
4. Class Discussion on Ideas
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Activity: Decide What
Perks/Policies/Employer Benefits Would Make You “Happy” at 3
Stages of Your Career:
• Group 1: Graduation/Post-Law School
• Group 2: Ten Years Out of Law School
• Group 3: Near Retirement
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Group 1 Results
Loan forgiveness
Formal training
Mentors
Clear career expectations
Positive work environments
Time to prepare for the BAR EXAM
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Group 2 Results
Not working a huge amount of hours per week (time for relationships)
Stable income to support a family (and pay off debts)
Healthcare, retirement, 401k
Nice office, colleagues that you enjoy
Vacation time, free time
Work/cases that interest you
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Group 3 Results
Flexible hours
Good retirement benefits
More freedom to choose cases and clients
Sweet going away parties
Generous sick leave
Good insurance
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Examples of Empowering Workplace
PoliciesLaw Firms
Shopping Trip for New Suits to “put best foot forward”
“Happiness Committee”
Food Delivery/Grocery Shopping Services
Buy/Sell Vacation Days
Home Cleaning
Escorts to your Car
Child Care Referrals
Fortune 100
Child Care
Stipend to pay for entry costs of races, events & competitions
Flexible Work Schedules
Sabbatical
Weekly Breakfast Meeting
Massage On-Site
Life Coaching
Reverse-Mentoring Program to understand millennials
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WARNING: Too Many
Perks
“Perks are powerful drugs that can have positive effects; the downside is that perks, improperly used, can have bad effects as well.”
“After-hiring, the firm can encourage employees to aspire to greater and greater amounts of wealth, and to consume lavishly in the short-term, by using perks to ‘addict’ them to conspicuous consumption.
“Firms might encourage employees to get married and start families, as these obligations increase the employee’s demand for present consumption.”
“The employee will be less able to accumulate sufficient wealth to enable her to depart the firm, hence avoiding a final period problem.”
Corporate Heroin: A Defense of Perks, Executive Loans And
Conspicuous Consumption.
Georgetown Law Journal
August, 2005
M. Todd Henderson
James C. Spindler
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Concluding Observations
Happ
iness is…
A M
atte
r of
Persp
ectiv
e
Imp
orta
nt to
the
Leg
al P
rofe
ssion
En
han
ced
by
Positiv
e R
epetitio
n
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Technology’s Effect on Work Life Balance
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Movie Clip
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What is Work/Life Balance?
“Meaningful achievement and enjoyment in every day life.”
101 List.
Discussion: How do you define work/life balance?
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Technology’s Positive Effects on Work/Life Balance
77% of professionals feel mobile communication devices enhance work/life balance.
Do you feel technology enhances or impedes your work/life balance?
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Technology Allows for Alternative Types of Practice
Transitioning to retirement.
Home-based practice.
Virtual practices.
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Transitioning to Retirement
78 million people are approaching retirement.
79% of workers 50+ desire to increase their technology skills.
Opportunities for the legal profession.
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Home-Based Practices
Using technology to replace the trappings of a traditional practice.
Cost savings.
Positive effects for work/life balance.
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Virtual Law Firms
Example: Virtual Law Partners
Over 40 partners, many from ivy-league schools.
Use technology to save money, make more money, while still maintaining sense of community.
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Virtual Law Firms
Traditional Practice
33% Partner Profits
33% Overhead
33% Attorney salaries
Virtual Law Partners
65% Partner Profits
20% Extra Profits for
Managers
15% Firm Overhead
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Technology’s Negative Effects on Work/Life Balance
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Technology’s Negative Effects on Work/Life Balance
80% of lawyers report that they use their phone for work after leaving the office.
Examples: In one study, a man admitted using his smartphone
during his wife’s stepfather’s funeral. A Congressman was seen writing emails throughout an
Ash Wednesday service. In stating what led to his divorce a man said “the thing
that really brought it home to me was we were in an intimate moment in bed, I lifted up my head and I caught my wife checking her email on her Blackberry.”
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Technology’s Negative Effects on Work/Life Balance
Differences in perception between users and their friends and family. “Materialization of work”:
When mobile devices used for work physically cross into the home, all the negative connotations associated with work cross as well.
“Absent presence”: Being physically present but mentally absent.
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How to Utilize the Positives and Minimize the Negatives
Recognize the Pygmalion Effect and take advantage of it. Make sure you set the expectations of the
lawyer/client relationship.
Make a 101 List or Non-Negotiables List, determine where technology will help or hurt, and stick to it!
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Staying Financially Competitive Amid Changes in the Legal Landscape
The “Business” of the Modern Law Firm
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Legal Fees: What is Appropriate?
“The amount of the matter in dispute, the labour of the sarjeant, his value as a pleader in respect of his learning, eloquence, and repute, and lastly the usage of the court.”
Factors considered to be important in determining legal fees as they were listed circa 1290 in The Mirror of Justices, Book II, c. 5. Seldon Society Ed., 1895
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Balancing the Economic Interests of Employees and
ClientsAttorney Interests Client Interests
Larger fees Low fees
Large payout with minimal effort
Proportionality of fee to effort
Large salary Indifferent to attorney’s salary
Are flat fees for services (e.g., drafting an employment agreement) fair?
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Client Billing
3 Predominant Practices: Hourly, Fixed, Contingent
Hourly billing is most widely used
Contingency fees used most often in Plaintiff’s PI cases, but hourly fees still most common
Billable hour system is subject to substantial criticism
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Alternatives for the Future
Method Description
Capped fee Billing based on time with total max fee
Volume rates Varying hourly rates depending on the size of the engagement
Incentive billing Success fees on top of reduced hourly charges
Value billing Based on value of service to client
Loaned lawyer Lawyer for firm works exclusively for a single client
Mixed billing Negotiate for different rates at different stages
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Attorney Compensation
Deferred Compensation Most common practice among law firms 1/3 of associate revenue generated deemed to be profit Profit distributed to partners Incentivizes associates to work hard on one day make
partner Can end up rewarding the most unproductive members
of the firm Probably better than pure productivity or seniority Should try to integrate more performance-based
incentives
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The Rise of Lateral Hires
Ethical Considerations MRPC 1.7: No representation if it presents a conflict of
interest MRPC 1.10: Imputes conflicts to firm MRPC 1.9: Creates duty to former clients
The 1.10(a) Ethical Screen Screen must be timely Notice given to former client Certificate of Compliance
Note: Even if hired MRCP 1.6 is still in effect!
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Krutzfeldt Ranch LLC v. Pinnacle Bank
363 Mont. 366 (Mont. 2012)
Arises out of loan dispute
Krutzfeldt hires Harris, Harris retains Hoskins. Pinnacle represented by Crowley.
Hoskins never formally terminates representation. He accepts a job with Crowley.
Harris moves for injunction prohibiting Crowley from representing Pinnacle in light of conflict.
Crowley claims it may continue representation because they screened Hoskins.
Court holds that screen not timely. Should have been done before the discovery of a conflict, not after. Also, Harris and Krutzfeldt not even considered former clients
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The Role of the Managing Partner
Today, the role of the managing partner has been altered by the increased mobility of attorneys.
Firm loyalty is not what it once was.
Effective managers will not only implement financial policies to foster economic growth, but they will also create a workplace that will restore loyalty to the firm
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Board of Overseers v. Warren
34 A.3d 1103 (Maine 2011)
Duncan caught embezzling money from firm
He willingly pays money back and offers his resignation
Managing partners decide he can stay, they do not report his behavior, and they delayed taking preventative measures for 4 months
Later it is discovered that he had embezzled more than originally thought, and he also had defrauded clients.
Managing partners promptly reported him to authorities
Bar complaint brought against managing partners. Did partners violated ethical obligation by not initially reporting? By not taking preventative measures?
Court finds that failure to report first instance not an ethical violation under Maine test, but failure to take preventative measures was.
Moral of the story? Consider ethical obligations before moral obligations to employees.
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Work-Life Balance for Millennials
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Which View is Correct?
“Job-hunting students should try to find a practice where they won’t have to work too many hours. Try to find a practice that enables you to maintain a human existence, time for your family, your church or synagogue, community...Boy Scouts, Little League.” – Justice Scalia
“There’s no such thing as work-life balance. There are work-life choices, and you make them, and they have consequences.” (Emphasizing viewpoint reflecting free-market employment system for competitive, high paid posts) – Jack Welch
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What is Work-Life Balance?
Millennials seek a desire to shape their jobs to fit their lives rather than adapt their lives to the workplace.
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Millennial’s Desires
Work Expectations
Entitlement
Higher Pay (74%)
Flexible Work Schedule (61%)
Promotion w/n Year (56%)
Personal/Vacation Time (50%)
Life (What’s Important)
Being Good Parent (52%)
Successful Marriage (30%)
Helping Those in Need (21%)
Owning Home (20%)
Successful in High-Paying Career (15%)
Having Lots of Free Time (9%)
Becoming Famous (1%)
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Why is this Important?
Individually
Sleep Deprivation
Substance Abuse
Long-Term Disease
Unhappiness
Lower Work Productivity
Society
Broken Marriages and Families.
Less Civic Engagement
Less Cultural Engagement
Diminished Relationships
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Whose Responsibility?
Individual
Choose Right Fit
Choose Higher $ vs. Less Hours Worked
Find Purpose and Enjoyment in Work
Law Firms
Balanced Hours (tailored to individual)
Career Associate Path
Cultivate Common Interests and Passions
Re-think Revenue Structure
Flexibility in Mobile Commuting
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Trends
Respected firm in NY filed a brief asking judge to reschedule hearings set for four different days because the hearings were in the middle of their children’s Christmas break, one of the only times they can spend significant amounts of time with their children. Judge rescheduled the hearings.
Basketball court doubling as conference room.
Lawyer group in MD who surf and paddleboard most mornings before work.
Firm who doesn’t schedule anything past 3:00 to allow lawyers chance to leave early.
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Conclusion
Questions?
Final Thoughts?
Perspectives?