Beyond revenue: rethinking what makes a law firm successful
As AI reshapes legal services, Scott Westfahl argues that law firms that thrive will be those that measure excellence beyond revenue, putting people development at the heart of their strategy.
Rethinking what high performance looks like
What law firms can learn from McKinsey
The lawyer development gap
Why AI increases the value of human skills
Most law firms aren’t actually teams
Why networks matter more than lawyers realise
The role of lawyers in an AI-driven future
Discover what excellence looks like
So says Scott Westfahl, Professor of Practice at the Harvard Law School. And he’s backed up by the recent Chambers Advantage Index Report which found that conventional measures of performance overlook key predictors of success.
To better understand where firms are realising more opportunities for growth means examining a greater range of factors for a more comprehensive understanding. “When I think about a law firm’s performance, I'm thinking about it not only in terms of profitability and growth related to profitability, but also what's the impact they're having socially, what's the impact they're having in growing and developing their talent, and what's the general ecosystem like in which they're operating?”
