HOW AN INTERNATIONAL FIRM STARTED TO IMPROVE PROFITABILITY WITH A GOOD TIME RECORDING STRATEGY

A major international firm had struggled to get fee earners to fully record time for over 100 years and appreciated the impact that this was having on profitability.

We helped them to establish a successful time recording policy.

What are the benefits of time recording?

BETTER UNDERSTANDING
OF WHAT THINGS COST

GET PROPERLY PAID
WHEN THE WORK IS DONE

QUANTIFY FEE EARNERS
FINANCIAL CONTRIBUTION

ENCOURAGE THE RIGHT BEHAVIOURS

ENSURE THE WORK IS DONE
BY THE RIGHT PEOPLE

WHAT WE DID

TRAINING PROGRAMME

A training programme was rolled out across the firm to help fee earners understand why they were failing to record all time and to show them best practice to help them to improve their skills.

TIME RECORDING POLICY

At the end of the training a revised time recording policy was issued which reflected best practice and the culture of the firm.

SUPPORT

Support was provided after the training to ensure that the firm took ownership of the project to achieve a long term increase in hours recorded.

TANGIBLE RESULTS

+16%

INCREASE IN RECORD TIME

-1%

FALL IN RECOVERY TIME

The result of the intervention was a 16% increase in recorded time with just a 1% fall in the recovery rate for the three months after the training.

Want to book a Time recording training? Contact us now