Unlike other business departments, legal departments have traditionally not busied themselves with tracking graphs, charts and metrics on their department’s performance. This has been changing in recent years as the complexity of running a legal department and the scrutiny legal departments are under from the executive level has increased. The question then becomes, what metrics are the most valuable to manage a legal department and show its value to stakeholders in the company?
This whitepaper provides a starting point of metrics legal departments should be tracking.
- Spend to budget
- Staff workload metrics
- Spend by matter type and business unit
- Outside counsel evaluations
- Outside and inside spending as a percentage of company revenue
- Invoice savings
- Timekeeper rate increases
- Litigation exposure over time
- Internal trainings vs. ethics complaints
- Lessons learned by matter