Heading into 2023, law firms adopted policies allowing their employees to return to
the office, work from home, or a combination of both. Optimism accompanied these
policies, intended as they were to boost revenue by allowing employees to work
where they felt most productive.
Research indicates that these policies have been successful. Demand for legal
services has returned to pre-pandemic levels and revenue for firms of all sizes is
up. (See, 2023 Clio Trends Report, https://www.clio.com/resources/legal-trends/2023-
report/). Yet one of the challenges that predates the pandemic persists. Firms
continue to struggle with how to capture all or at least a majority of their
employees’ billable time.
In 2019, according to the ABA, lawyers in private practice billed on average about
2.5 hours per day. 2020, 2021, and 2022 weren't much better, with lawyers
capturing only around 3 hours per day. Though skeptical of these statistics, firms
accept that their employees do not capture 100% of their billable time.
The problem is not that lawyers fritter away their days. Rather, they stay busy
working on behalf of clients and simply neglect to bill for everything they
do. (Harvard Business Review, Gretchen Gavett; "Workers Are Bad at Filling Out
Timesheets, and It Costs Billions a Day").
Compounding the problem are inefficient and outdated time tracking methods, such
as manual entry. (ABA Law Practice Magazine, Laura Keeler; "Tracking Time to
Increasingly law firms are turning to tools that allow their employees 1) to work
from anywhere; 2) to bill from anywhere; and 3) to capture billable time
Take MHPS, PLLC (www.mhpslaw.com), for instance. Based in Nashville, MHPS is
completely cloud-based and monetizes its productivity tools with Time
Time Miner connects MHPS’s phone, email, and practice management systems and
automatically creates time entries for billable activity. It then exports those time
entries to the firm’s primary billing system so that no billable time is lost. By
automatically capturing time that is often lost, Time Miner pays for itself and adds
directly to MHPS’ bottom line.
As 2023 draws to a close and firms wonder how to build on the success of their
updated policies, they might consider following MHPS’ lead and monetize their
productivity tools by using cloud-based options in conjunction with Time Miner.
Category: Remote Workers