How practical is fee negotiation training
Any training needs to be practical, but fee negotiation training has particular needs. Negotiating fees is a delicate matter for many lawyers, because they are far more comfortable talking and working on legal matters.
Rather not talk about fees
The discussion of their fees is something most would rather be handled by someone else, or just put in a letter of engagement, and preferably not discussed at all.
Training needs to be practical
This means that training needs to be practical in the sense that it needs to help lawyers not only with the tips and strategies of negotiating, but also the practical behavioural issues. That is, how do we say this and will I feel comfortable doing this.
When do we start to talk about fees
ITD’s approach starts with the time to start discussing fees. The longer we leave a discussion the ppotentially harder it gets to discuss. It’s as bit like any procrastination. The first ITD tip is to start discussing fees at the very beginning. That means as part of the agenda of a first meeting. Putting fees on the agenda demonstrates to the client that you are confident about fees.
What words can we use
How fees are introduced at the first meeting is also crucial. We might start with, “We need to discuss fees, how they are structured, and the link to value in your perception”. Or, “It would be useful to discuss your experience of fees including how it has worked with previous lawyers, what you liked and what you would have like to see improved.” And you might include, “We can also cover payment on account and how this benefits the relationship…”
Real situations from the lawyers' world
ITD’s approach to fee negotiation training is also based on the actual experiences and situations of participants. This means we take actual situations and challenges from lawyers in the room, and apply ideas, strategies and tips to these. We discuss different approaches to see which are most applicable for a particular lawyer in a specific practice area. In this way lawyers get practical tips which they can use immediately after the training.
Delivering training that works
By giving practical tips and by tailoring content to the firm and the lawyers in the room, our approach to fee negotiation training is very practical.
As one client put it:
“The sessions were tailored to our firm’s specific needs and those of the practice areas; each workshop was delivered in collaboration with colleagues from the Finance Team in the firm. The training was very well received and we had very positive feedback from Partners and Senior Associates, with some immediate practical applications of the principles covered.”
Training on the subject of negotiating fees
