Digby Leigh - Alternative Fee Arrangements for the Legal Industry
Ditching Hourly
The Incentive Model in Software
In the soft ware space, you're assigned a certain amount of stuff to do, or not stuff to do. In our industry, that's like having time offiy ye, thats th exact same thing. I did a calculation, and it's interesting, but if i looked at our old buillion realization rate of 88, 89%. We showed that more than beyond january, what that means is you get 15 minutes every hour to yourself that you didn't get before. So we've created a system which people on our firm ar on, we calld earned em out. And they get that by hitting their billowing targets, not the recorded time targets.
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