Do you work more than 40 hours a week? If you’re an entrepreneur or small business owner, it’s hard not to, but all that extra time in the workplace isn’t necessarily a good thing. After a certain point, it can be counterproductive and even hazardous to your health, so it’s imperative to know when to say no to more hours.
Various organizations and independent researchers have looked at the physical, mental, emotional, and social effects of working beyond the standard 40 hours a week. Notable findings include the following:
- Working more than 10 hours a day is associated with a 60 percent jump in risk of cardiovascular issues.
- 10 percent of those working 50 to 60 hours report relationship problems; the rate increases to 30 percent for those working more than 60 hours.
- Working more than 40 hours a week is associated with increased alcohol and tobacco consumption, as well as unhealthy weight gain in men and depression in women.
A presentation at Legalwise Seminars, April 2012
As we emerge from the challenging conditions of recent times, growth is clearly on the agenda for legal practices. But growth for growth’s sake is not always a positive thing, and increasing revenue quickly can lead to cashflow pressures.
How do you go about setting the right growth strategy for your firm? And what are the potential pitfalls to watch out for?
This is invaluable advice for law firms. Click on the link above to open the document (pdf).
Does your firm produce a regular Productivity Report? If not, how do you know who is ‘producing’ and who is not? How then do you go about managing under-performers if you don’t have the information? How would you know if they are performing to expectations or not?
In it’s simplest form, a Productivity Report measures:
- Time billed in hours per month or per annum (or weekly if need be);
- Time recorded in money per month and per annum;
- Budgeted time in money terms (ytd);
- Billings in money terms per month and per annum;
- Budgeted billings in money terms (ytd), and
- Work in Progress (in money terms);
by fee earner. It can also include fee earners who have left the practice, but perhaps still have ongoing matters that have been allocated to others.
If you need help, please refer to your local adviser, or contact me. Happy to help.