What is a "Legal Utilization"? The Most Authoritative Explanation.

What is a "Legal Utilization"? The Most Authoritative Explanation.

What is your law firm's utilization rate?

According to the 2022 Legal Trends Report, your firm’s utilization rate allows you to measure your firm’s workload and productivity. It’s one of the most important KPIs law firms should track. Read on to learn how to calculate and increase your firm’s utilization rate and how to use that information to help your law firm succeed.

Does your utilization rate determine an attorney's value?

It’s important to remember that your (or your law firm’s) utilization rate doesn’t determine an attorney’s value. KPIs are metrics we can use to quantify certain operations to improve your firm’s success. Lawyers are humans helping other humans, and numbers only tell us part of that story.

What is utilization rate & why is it important?

Utilization refers to the percentage of an employee's available time that is dedicated to productive, billable work. It's a key metric for organizations to monitor as it reflects how efficiently employees are using their time for work that generates revenue. Why are utilization rates important for law firms?

What is the ideal utilization rate for your organization?

The ideal utilization rate for your organization balances the targeted billable rate with all of the company’s staffing expenses, plus overhead and profit margin. But we're getting a bit ahead of ourselves. First, we need to talk about organizational utilization rates, or capacity utilization rates.

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