The balanced scorecard is one managerial tool that can be implemented in any industry. This is because the nature of the tool is quite extensive, to the point that it can even be used in aviation, medicine, and law. There is indeed a legal BSC or legal scorecard that contains legal measures or key performance indicators as well. You can even say that the legal BSC’s following is getting bigger and stronger with each passing day. In fact, it is the preferred tool to use when it comes to the measurement of performance and the rate of success in the industry. Not only that, the legal BSC is also used in the promotion of legal practices. The tool is indeed becoming more and more popular in terms of acceptance and application.
If there is something that law firms have in common with companies and firms of other industries, it is the fact that its primary agenda is still profit. This goes true for law firms that take on pro bono cases because not all of their cases would be administered for free, you know. Law firms do need to earn profit to continue its operations. After all, if all cases a law firm takes on would be done pro bono, there would not be funds for the salaries of the lawyers belonging to the firm.
This is where the importance of the legal BSC sets in. Being the managerial tool that measures profit and performance, the BSC is then used in the law firm’s status quo, giving the firm as many opportunities as needed for it to earn profit. Most of the time, law firms here would pay attention on the performance areas that directly impact or affect the achievement of corporate goals and objectives. And when you are using the legal BSC in the context of law firms, then you should pay attention to this particular major area – learning and growth. This perspective is also related to another performance area – customer service – so it really pays to focus on these two areas.
The learning and growth performance area requires attention on the creation of a team of lawyers that can aptly handle just about any kind of case that is brought about by the firm’s multitude of clients. In doing so, it is important for this team of lawyers to handle the cases efficiently because this, in turn, would encourage the existing clients to stick with the law firm for future cases, and even refer their friends and colleagues to the law firm for services needed.
Another essential is the firm’s staff development program. For its bases, assessment results should be used and the program should be created in such a way that all lawyers would be equipped with the necessary skills and knowledge to take on any type of case. A law firm does not really handle every type of legal case that comes along. Law firms handling civil cases just might turn down a criminal case brought forth by a prospective client. But this does not mean that civil lawyers should not equip themselves with sufficient knowledge and skills about criminal cases commonly brought forth to them.
Lastly, customer service is a must for any law firm. Law firms inevitably want a clean public image for themselves and to do this, they should be ready to provide excellent service so as to have a growing number of clients. All of these legal measures should then be incorporated on your legal BSC.