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Tech Tip #181: Utilization vs Realization Rate: Building Productivity-Based Compensation Models

Productivity-based Compensation models

When building an incentive compensation model for your firm it’s important to remain consistent, transparent and objective. For that reason, we recommend basing compensation on realization rate vs utilization rate. Doing this ensures that all members of your firm are compensated based on what is collected. This will remove any controversy associated with any adjustments […]

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7 Common Habits of Successful Law Firms

Good Habits of Successful Law Firms

For so many lawyers, having their own law firm is a dream. Many lawyers reach that point only to learn how much more challenging it can be to run a successful law firm — and let’s be honest, nobody sets out to own and manage an unsuccessful firm. Here at CosmoLex, we work many different […]

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How to Navigate the Complexities of Creating a Productivity-Based Compensation Model for Your Law Firm

legal compensation model calculator

Unsurprisingly, the issue of compensation is a major focus area for management when running a law firm (or any business for that matter). This point often becomes particularly complicated for lawyers due to the unique complexities associated with the billing practices in most law firms. Because of this, establishing a sound measurement of productivity in […]

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