Benchmarks that compare one law department’s staffing and spending profile against a group of similar law departments’ metrics can provide many insights and benefits. The move toward use of more metrics in management long ago reached law departments. Yet many in-house managers remain reluctant to take advantage of benchmark insights. Managers of in-house legal teams who shy away from metrics or do not understand them sufficiently are at a disadvantage. Those skilled in metrics and their application are able to provide relatively more value to their companies.
It is instructive to consider myths and misconceptions perhaps we can refer to them as myth-conceptions that are heard from time to time regarding benchmark metrics. Here are nine of the most common myth-conceptions and some suggestions regarding how to think differently about them.
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