...It became abundantly clear that the legal industry needs a new measure of law firm health and stability,” said Laura Leopard, CEO of Leopard Solutions. ”We believe that it has the potential to be the new benchmark for law firm success moving forward.
NEW YORK (PRWEB) October 05, 2020
Leopard Solutions, the leading law firm and attorney database for business intelligence and lateral recruitment in the US announces the newest addition to its growing platform of competitive intelligence and business development tools, the Leopard Law Firm Index. Drawing from nearly twenty years of innovations along with Above the Law and Adam Smith Esq., this new index is a unique and insightful tool that will allow law firms to measure their resilience and vitality as well as to assist in identifying a law firm’s strengths and weaknesses.
The Leopard Law Firm Index is a new, dynamic rating system for law firms. This new rating system is based on uncompromised, quantitative datasets that are numeric and are weighted proportionately to the size of the firm. Moreover, the Leopard Index is not fixed on any one set of firms. It is a rating system of all firms for profitability, viability, growth, and potential opportunity. The Leopard Law Firm Index is dynamic and will change as data changes and will provide an overview of how firms are doing in real-time. The index will also show the various data indicators for each firm’s rating and areas of improvement.
The Leopard Law Firm Index will be updated weekly in consideration of firm and market changes as well as other fluctuations it will continuously assess multiple data points, not only law firm financials for over 4,000 law firms researched by Leopard Solutions’ team of data experts. During turbulent times, with many changes happening almost daily, a once-yearly ranking system is obsolete and provides firms with overconfidence even during down economies.
The Leopard Law Firm Index is based on seven weighted indicators of law firm sustainability and eliminates the bias for relative law firm size. These factors include:
- Growth or decline in attorney headcount
- Average attorney tenure
- Insider rating and internal firm satisfaction
- Increases or decreases in revenue per lawyer (RPL) over a five-year period
- Relative success in lateral recruiting and general retention (partner and associates)
- Relative success recruiting and retaining entry-level attorneys
- Promotions to partner
“During our discussions with the folks at Above the Law and Adam Smith, Esq. leading up to the release of the Leopard Law Firm Index, it became abundantly clear that the legal industry needs a new measure of law firm health and stability,” said Laura Leopard, CEO of Leopard Solutions. ”We are excited about the launch of the Leopard Law Firm Index and believe that it has the potential to be the new benchmark for law firm success moving forward.”
The Leopard Law Firm Index will allow law firms to understand opportunities quickly and easily for change and improvement with the ability to drill down to the data aspects of the score affecting the overall health of a firm. They can use the index to help inform their strategic and business decisions, as well as use the information to dig into the component elements and flag areas that can be improved. This information provides leadership with real-time data to track success and/or make course corrections. For more information on The Leopard Law Firm Index, please contact firstname.lastname@example.org to discuss the index, our methodology, and receive a free demonstration.
Leopard Solutions https://www.leopardsolutions.com/index.php/company/ delivers the highest quality, most accurate, and in-depth information on the legal market, leading law firms, and attorneys with easily searchable products. From business development solutions to competitive intelligence to lateral recruitment to our curated and customizable market research reports, Leopard Solutions offers a wide range of data solutions for law firms and legal departments. Our data and technology are continuously updated to ensure market relevance and your competitive edge.
We are a proud WBE organization that has grown into one of the most recognized and trusted legal market data providers in the United States. Leopard Solutions’ high level of quality and depth is unmatched in the industry. For more information, please visit http://www.leopardsolutions.com.
Above the Law https://abovethelaw.com/ is the most widely read source for original legal news and commentary. The ATL audience comprises everyone from GCs and Biglaw partners to the ranks of 1Ls. Written by lawyers for lawyers, ATL covers all aspects of the legal industry: from the Judiciary and law schools to Biglaw firms and legal technology innovators. ATL is the first with salary and bonus information and is a hub of professional advice and insight for legal professionals at all career stages. ATL is part of the Breaking Media network of sites.
Adam Smith, Esq. https://adamsmithesq.com/team/ is a boutique management consultancy serving law firms (and law firms, only!). We work globally with firms of all sizes and types helping them solve their most vexing strategic challenges and better prepare for tomorrow.