find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Infrastructure Lawyers
Category: Construction Law | Location: All Perth WA
· We'd be particularly interested to hear from you if you were a lawyer who knows your way around the infrastructure and energy sectors.
View details
In-house teams to benefit from greater metrics

In-house teams to benefit from greater metrics

A new report has urged department heads to establish credible practice metrics, to better measure the results delivered by in-house teams.

Originally published on Corporate Counsel, the report by UK-based market research company Acritas analysed the metrics currently being used by over 1,000 legal departments to measure success alongside their articulated goals.

The report revealed that 25 per cent of legal departments currently have no metrics to measure value, suggesting a core need for legal departments to re-evaluate their benchmark models for in-house teams.

“Analysis of the 75 per cent using metrics revealed an over-emphasis on cost (33 per cent) as opposed to proactive risk management, effective legal support and creating value through efficiency – a clear mismatch with legal department goals,” said Lisa Hart-Shepherd, CEO at Acritas.

“Legal departments have for too long been measured on spend alone, which does not address in any way the core purpose of the function.

“Of course, optimising value from legal spend is critically important, and increasingly so through the last decade, but this has to be secondary to maximising commercial return and minimising legal risks and losses.”

Ms Hart-Shepherd noted that the results enable GC to make an objective analysis of their value.

“We created the Acritas PEER model to help legal department heads measure and benchmark their performance and contribution to the wider organisation in a more meaningful way,” she said.

“In turn, this will also enable others such as CFOs, who often determine legal departments’ budgets and resources, to better understand the broader scope of the value being added, and what may be lost through potentially dangerous cuts.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

In-house teams to benefit from greater metrics
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Violence
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
Nov 16 2017
From lawyer in law firm to senior governance professional
Promoted by Governance Institute of Australia As a law graduate, Kate Griffiths never imagined...
marriage equality
Nov 16 2017
Legislation the next hurdle for marriage equality
Lawyers have underscored the importance of ensuring same-sex marriage legislation does not limit ant...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...