Our March 2012 strategy question of the month focused on profit improvement strategies. One of most important strategies for profit improvement among firms is improving realization. In framing that question about realization, we explicitly included consideration of alternative fee arrangements – so, AFAs appear to be part of that profit improvement strategy.
Since publishing those findings, our friends at Altman Weil have published their latest findings on the annual “Law Firms in Transition” survey. Interestingly enough, they found that law firm leaders’ expectations for increased price competition (49%), increased commoditization of legal work (58%), and increased non-hourly billing (52%) were all up dramatically.
Given those findings, we thought it would be valuable for our readers to get a sense of what their peers are doing in the realm of AFAs. The quick, two-minute survey below takes a look at AFAs through a couple of lenses – do they continue to grow as a percentage of fees earned and what tactical approaches appear to be most prevalent?
Deadline for completing the survey is midnight, Tuesday, May 29, 2012 (the day after Memorial Day). As always, individual responses will remain confidential and anonymous. Thank you!
If your browser does not support the embedded survey (i.e., you do not see the survey in the box below), click this link to jump to a hosted version of the survey.