Measuring Value Beyond the Billable Hour

Key performance indicators (KPIs), or performance metrics, are receiving some attention in the legal field. KPIs enable businesses to make data-driven decisions, and I, too, believe that KPIs are the next big thing for lawyers and law firms. Mantras like “measure or perish” have been bantered around many legal events over the past couple of years. However, measuring utilization and profit per partner are not the focus of the new breed of KPI. Instead, the focus is shifting from measuring inputs like available hours to measuring outputs that include value.

Originally published July 5, 2016 0 0