FAQs

>	Professional Practice FAQs

Q1. How comparable is our firm's financial performance with others of a similar size in region?
A1. As an Associate firm of Horwath Clark Whitehill, we have access to a wide range of data from various sized and located legal firms. We can report to you on a confidential basis, on a range of financial indicators including:-

average fees per partner and fee-earners
ration of salaries:fees
average partner charge-out rates

Q2. What legal accounting software would you recommend?
A2. From liaising with our clients, we can offer real advice from the people that use the software rather from the people that sell it.

Q3. What steps should be taken to improve the firm's profitablilty and cash flow?
A3. We can offer a healthcheck both on profitability and cash flow to identify key areas where improvements can easily be made.

Q4. How can I persuade key staff to stay?
A4. Employees are an organisations' greatest asset and, therefore, should be retained and motivated. Employees hold increasing power over their employers due to talented individuals demanding higher remuneration packages and excellent working conditions. Turnover of staff is averaged throughout the UK at 20%; the cost of recruitment can be up to 150% of salary for key staff. Therefore, retention of staff is vital. The following are a few ideas to ponder in relation to your own employees:

Do you recruit the right people in the first place?
Do you provide clear career paths?
Do you support personal development?
Are you aware of the remuneration packages that your competitors offer?
Do you have a bonus scheme?
Do you have adequate training schemes?
Do you listen to what your key staff need?
Do you implement what your key staff require?

Q5. How can we market our firm effectively?
A5. Marketing is the face-to-face activities that you undertake to sell your services and is not always about advertising. Contact us for advice on successful marketing tips and how far your professional ethics allow you to go.

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