Decipher Investigative Intelligence

That’s a wrap for Decipher Talent Economics Roundtable 2024. In our afternoon sessions, we learned: In sales it might be “Always Be Closing,” but in legal it’s “Always Be Hiring.” Julie Henson, Decipher’s Chief Growth Officer, joined Decipher Chief Data Officer Gregory D. Hamman to discuss how to create and iterate a hiring strategy to fuel law firm growth. Julie shared the importance of the operations team to broadly share the strategy and use data to rebut fixed assumptions, while Greg previewed Decipher’s latest data offerings. Then, in our closing panel discussion, Creating Profitable Harmony, Kristina Gajewicz, Director of Recruitment at Baker McKenzie; Susan (Lee) Hollender, Chief Growth Officer at Michael Best; and Angela Floessel (ALPP, ALPM), Global Director of Strategic Pricing and Project Management at Morrison Foerster answered questions from moderator Patrick Fuller, Chief Strategist at ALM, about topics that included the challenges of integrating new hires and the increased needs for training that goes beyond document review for new associates, helping them manage matters more efficiently and profitably. Finally, Decipher Founder & CEO Michael (Ellenhorn) reiterated the important work of isolating and distilling data and metrics, and getting that information in the hands of business professionals who are tasked with achieving your law firm’s desired outcomes. Thanks to our speakers, guests, and our host, Baker McKenzie. We hope to see you next year at DTER!

Decipher Talent Economics Roundtable 2024 is underway! Here’s what we’ve learned so far: Tripp O'Connor, CFO of Alston & Bird, told us how Generative AI will affect the current levers of profitability and why law firms need to set a strategy to recruit and develop talent that can utilize this technology and create value at higher rates to ensure future growth. Next, William Josten, Esq., ALRAP, Legal Marketplace Insights Strategist at Thomson Reuters, shared recent trends in profitability, the critical issue of declining realization, and why the problem rests more with law firms collecting rather than client pushback. And right on cue, Ann Rainhart, Chief Operating Officer at Fredrikson & Byron, and Keith Maziarek, Director of Pricing and Legal Project Management at Katten, discussed practical strategies to support lawyers when negotiating rates with clients and how collaborating with operations can elevate strategic growth. Follow us for insights from our afternoon speakers later today. And special thanks to our DTER hosts, Baker McKenzie!

What a relaxing and fun filled night at the Decipher Talent Economics Roundtable welcome reception at The Gage in Chicago! We are excited to continue those thoughtful conversations today at the roundtable. #DTER24 #roundtable

Well done Julie Henson! You’re a rock star 💫

Congratulations to our Employee Spotlight of the month, Julie Henson! 👏

Are you getting the most out of your legal recruiters? The legal landscape is constantly evolving, and finding top talent is more crucial than ever. But are you asking the right questions of your recruiters? We break down 10 game-changing questions you NEED to be asking your recruitment partners. These questions will help you: ✔️ Uncover hidden talent pools ✔️ Ensure cultural fit for your firm ✔️ Streamline the hiring process Ready to build a future-proof legal team? Click the link in the comments to access the full article and start asking the questions that matter most!

Today, we conclude our #LateralLessons series with a critical point: You don’t have to navigate lateral growth alone. Decipher helps law firms grow purposefully and profitably through industry-leading data and insights. Our solutions lower your hiring risk and acquisition costs, while elevating your firm culture and bottom line. We help firms through: Strategies: We turn growth strategies into reality through custom talent playbooks for specific markets. Diligence: We protect your firm through due diligence that prevents problematic hires. Analytics: We empower smart decision-making by developing custom analytics that deliver clarity and certainty. Intelligence: We provide competitive intelligence across industries to mitigate risk and examine third-party relationships. It’s why leading law firms describe Decipher as “innovative and unparalleled” and “a game changer.” 

A huge shoutout to our incredible analyst team for their outstanding work! Their dedication, positive attitude, and can-do spirit have been instrumental to our success. We're so fortunate to have such talented individuals on board. Thank you Enedin Subasic, Samantha Wickam, Kyle Schloesser, Mergim Hysa, Imogen Bennett, and Kailey Beguin for everything you do!

Through Q2, it's clear: Lateral market dynamics have shifted to favor firms. In a Law360 report, Gregory D. Hamman and Julie Henson dive in: - Lateral partner mobility is up 20 percent over the previous seven-year average. - But lateral partner candidates in Q2 had more experience, lower compensation and larger claimed books of business than in previous years. As Greg and Julie write, "There's never been a better time over the past three years for law firms to strike -- but success hinges on a data-driven approach and a well-defined strategy." For the full report -- including quarterly data on associates, practice areas, locations and more -- as well as actionable advice, see the Law360 article linked in comments.

Talent is your firm's major competitive advantage - and expense. How can you ensure maximum ROI? Join us at Thursday's LVN webinar to learn: - How law firms can leverage data analytics to enhance talent acquisition and management strategies - How data-driven insights can identify the best candidates, optimize lateral hiring processes and more - What tools and methodologies can expedite your firm growth while reducing hiring mistakes Decipher's Gregory D. Hamman and Julie Henson will be joined by Esther Bowers, chief practice innovation officer at Honigman. To learn more or register, see the link in the comments.