Key Performance Indicators

Law firms of all sizes should calculate and track indicators of their performance and health. The most successful firms use these indicators to assist in making important business-like decisions, in motivating and aligning behavior, and in adjusting to the new realities.

Indicators should meet the following three criteria to qualify as a KPI for your firm:

1. It must reflect the firm's strategy and goals;
2. It must be key to the firm's success; and
3. It must be quantifiable

Your firm's strategic focus will impact its selection of KPI.