Performance is defined in the Merriam-Webster Dictionary as a) the execution of an action, or b) something accomplished. The question is: Are people accomplishing the right things in firms today?Charge hours have been the primary measure of performance in many firms. However, the profession is moving from an effort-based to a results-based economy, and charge hours may be only one of many gauges the firm pilot must watch as he flies the plane.
While charge hours can be a measure, they are not the only measure that should be used in a firm. In order to ensure performance, many firms have implemented performance evaluation systems; however, the biggest complaint heard from partners is that there is too much paperwork and it takes too much high-level time to administer such systems. The bottom line is that most partners prefer serving clients rather than managing people.
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