Event Briefing Note
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After 3 days of debate the Managing Partner decided that little could be done as his billing was so high and he would have taken exception to his behaviour being questioned Wide-reaching negative impact across the firm – particularly successful partners What are the genuine options Successful partners with non-compliant behaviour – is it best to let them carry on No definitive solution Ingrain behaviours earlier in career (see above note on ingraining behaviour in early career) Risks of compromised billing for better/different behaviour to great PRICING Challenges: Largely seen as confidence issue Not able to deal with client price challenge Different market pressures across the firm leading to different pricing structures Absorbing costs when things go wrong Solutions perspectives offered: Keep the clients notified of scope-creep, overruns Recognise that even when the client outcome is negative the client will be prepared to pay for work done provided they’re informed Embed as part of training education – MI and focus on financial hygiene Inclusion of project managers has a range of proven benefits including challenges to pricing Prioritising business/clients that are genuinely profitable to the firm SECTOR GROUPS v SERVICE LINES Challenges: Silo cultures prevail, particularly as a result of mergers or acquisitions Size of firms often dictates structure Solutions perspectives offered: The move to a matrix model has proven successful in larger firms with increased efficiencies and profitability On bigger matters, there is more likely to be a willingness to collaborate across service lines..
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