Let me preface this by saying (at the price of sounding cocky) I’ve been referred to as many names (generally rightly so), however a ‘dangerous businesswoman’? by no means. In reality I lead the fastest growing law firm in BC. Imagine me, I’d by no means make a enterprise resolution in haste or do one thing to place our success as a enterprise in danger. So to start, please give me the good thing about the doubt.
Once I was in my second yr of working towards as a lawyer, I obtained a 30 web page professional report from my physician who beneficial I ought to work solely 4 days every week. That’s as a result of I had a number of bodily and psychological diseases resulting from being overworked and confused. I went to my employer and requested them permission to permit me to work 4 days every week. They did, however it got here with a 20% minimize to my pay.
By then I had by no means missed a billing goal and was the best billing and gathering affiliate on the agency. I didn’t need to work 4 days every week however discovered that I merely had no alternative as my physique and mind had been screaming at me to decelerate in any other case I’d have greater costs to pay.
These 3 months of working 4 days every week had been the perfect months of my work life. I nonetheless met and exceeded my full time billable goal and I did it with ease.
Quick ahead to eight years later, I personal my very own agency and still have a 1.5 yr outdated daughter. I work 4 days every week to have a while together with her. A pair weeks in the past whereas having a glass of wine and cooking meals, the thought crossed my thoughts: why not all of us?
I researched the subject obsessively and spent my evenings planning tips on how to implement 4 work days every week with out hurting our high quality of service to our shoppers, our worker’s pay, and naturally our profitability.
Let’s look first at why I feel 4 day work weeks for regulation corporations is a superb concept:
Let’s face it: as enterprise house owners we take into consideration the underside line. We need to maximize our earnings and cut back threat. So I perceive why some could be hesitant to even implement the 4 day every week concept. However after a lot thought, I spotted 4 days every week work may very well show to be the identical or extra worthwhile. Right here is why:
Revenue Loss or is it?
Primarily based on my calculations and if I assumed that attorneys would invoice proportionate to the hours they are going to work in a 4 day week, I estimate that at worst we’d lose 10% of our internet earnings. That is one thing that’s simply measurable whenever you take a look at the variety of hours versus billable time misplaced.
What isn’t clearly measurable are the long run good points you’ll have by implementing this coverage. That is exactly the place anybody pondering of implementing this mannequin would cease and never entertain the concept. She or he would see a right away lack of revenue however couldn’t measure the long run good points that will set off in opposition to it that simply. However let’s see if we will measure the long run good points a bit extra exactly:
Loyalty
Dropping attorneys and workers has been the most important cash waster for me. Changing attorneys or workers who go away for different jobs can take months. And through these months I could face lack of income within the tens if not a whole bunch of 1000’s of {dollars}. After which need to cope with quite a few shopper complaints about how we have to do work without spending a dime or comp them for the lawyer leaving. I can measure the loss by our earnings throughout these months. Most regulation corporations don’t instantly exchange departing staff or attorneys. In the course of the time of substitute, a lot time and money is wasted away at discovering a brand new one that might or will not be the fitting match.
Now think about should you provide your staff 4 day work weeks, who would need to lose that job and go work someplace 5 days every week? Loyalty to the job in itself will cut back waste, in all probability greater than the ten% of earnings I may doubtlessly lose.
Sooner Growth
If I supplied a 4 day every week work atmosphere at my agency versus different corporations who don’t, which agency do you suppose a superb, proficient lawyer or workers would select? My probabilities of increasing and including extra attorneys and staff would imply extra earnings. My price of growth could be doubtlessly, exponentially greater than the following agency.
Most attorneys and assistants are at phases of their lives the place they’ve completed education and need to have kids and households. Permitting them to be human, spend time with household and still have a profession is efficacious and irreplaceable. This needs to be the main focus of any enterprise proprietor if we need to have a wholesome, reciprocating work atmosphere.
Earnings Seemingly Received’t Do Down
Earnings will probably keep the identical or enhance: most of our attorneys are on a price cut up pay, in order that they eat what they kill. Given my very own expertise in assembly and exceeding my full time billing goal working 4 days every week, I’ve little doubt our attorneys will proceed to satisfy their full time billable targets. This time although, there isn’t a strain to. In the event that they exceed or meet their full time goal, that may assist them with their confidence, added earnings, and so on, however it doesn’t strain them to carry out and overwork themselves. This can be a system of reward versus punishment in case they don’t meet a full time goal. And my mates, imagine me love and appreciation will deliver much more profitability than limitations, self-discipline and strain.
It provides them autonomy, alternative, freedom to do as they see match. This can imply higher psychological well being and bodily well being for all concerned; higher work and life satisfaction.
Elevated effectivity
Analysis has proven that most individuals are productive and truly work 2-3 hours out of their 8 hours work days. If we cut back the working days however add effectivity to the times we’re working, we will obtain the identical outcomes with extra management and satisfaction. Legal professionals will simply be extra productive, environment friendly and centered as a result of they know the time without work is simply across the nook and the extra they invoice, the extra will earn cash.
Even for attorneys who aren’t doing a price cut up, billing extra means greater pays, extra bonuses and extra appreciation.
Workers may even be extra environment friendly in getting extra duties achieved understanding that they are going to have a time without work. Win win up to now.
On a sunny Friday, I gathered all of our workers and attorneys and introduced the information. I keep in mind they applauded at the least 3 instances, most individuals had been in shock. Some thrilled and a few anxious. All of us as a workforce recommended and mentioned insurance policies to make this work.
Some attorneys, comparable to junior attorneys who’re single weren’t the most important fan as a result of that is their time to make their profession and show themselves. That’s nice, the secret is giving them a option to work 4 days every week, however not forcing them to take action.
I’ll talk about the insurance policies we carried out, that are extraordinarily essential to our probabilities of success within the subsequent weblog.
Written by Leena Yousefi – February 10, 2021.
