To maximize the value provided of the benchmarking information within our Surveys, last year we redesigned the Report offerings to include targeted metrics for the Firm Managers responsible for interpreting and utilizing the results.
Each of the three distinct Report types include summary charts highlighting select metrics prior to and after the downturn in the economy, each designed to visually present the firm's historical position relative to its peers.
The BRASSplus is released on a biannual basis; the Initial and the Mid-Year Release. Participation is now underway for the Initial Release of the 2014 BRASSplus.
Timing: Submissions for participation in the Initial Release of the BRASSplus are due on April 11, 2014.
Fees: The base fee for participation in this release of the 2014 BRASSplus is $1,850. The base fee includes three comparison groups in any of the three Reporting styles for your individual offices or practice groups. Each participant will also receive one Revenue Management Summary Report for every 3 to 5 comparison groups ordered in the Revenue Management reporting style for an office or practice group. Additional comparison groups will be billed separately and discounts are provided for firms that order more than 10 additional comparison groups.
Why you should participate
Access to Information from the Nation’s Largest & Most Profitable Law Firms: Last year, our participants included nearly 75% of the largest, most profitable law firms.
Receive Three Distinct Billing Rate Benchmarks: The Revenue Management Report provides information on three distinct billing rates – standard rate, worked (agreed-upon) rate and effective (billed) rate. This allows participants to benchmark the rates that many firms realize due to client pressures.
Ability to Create 'Peer Firm' Comparison Groups to Fit Your Firm’s Needs: Participants can choose to benchmark their individual offices and practice groups to over 1,000 standard geographic comparison groups and 500 standard national practice area comparison groups.
Additionally, many participants opt to create custom comparison groups from a list of their peers/competitors to fit their individual firm needs.
Availability of Benchmarking Key Revenue Metrics by Practice Group: Many law firms acknowledge the importance of managing revenue by practice group, in addition to geographic location.
Not only can participants select benchmarking Reports by the size of their national practice, but also through ordering 'Practice Area by Location' comparison groups which combine the location of the attorneys with the area of law practiced.
Inclusion of Diversity Metrics: The Talent Management Report allows participants to obtain metrics delineated by race and gender to better understand the diverse population of their Attorney workforce.
A Win-Win Time Investment to Cost Proposition: The time necessary for participation is minimized with our Data Extraction Tool which, for many participants, is as easy as a download of information from their financial systems.
We strongly believe that the investment to participate is significantly more beneficial to the firm, compared to the alternative of compiling and analyzing information obtained from other labor-intensive sources.