At Keypoint our flexible approach to working and technology extends to how we charge for work.
Our lawyers are free to set whatever fee structures they choose with clients, whether that be hourly billing, fixed fee, retainer or otherwise, without requiring any internal approvals. In the event of hourly billing, a lawyer’s hourly rate is decided by them. Lawyers are also free to discount or increase their normal rate to suit prevailing circumstances and to detail such arrangements in the relevant Engagement Letter. The firm’s decentralised approach to pricing enables our lawyers to flexibly tailor our fee offering in a way which can offer real value to clients.
The firm has no time sheets and no billable hour targets for its lawyers. Our lawyers are free to work closely with clients without having to justify their time or the investment which they choose to make in a client, to the firm.
The absence of billable hour targets also enables our lawyers to design their practices in a way which achieves the work-life balance they want, subject only to the needs of our clients. The absence of billing targets changes the client from being a “KPI of the firm” – where lawyers are under relentless pressure to bill, to a situation where our lawyers are free to work with clients as they think appropriate. This takes significant pressure out of the client relationship and drives high levels of satisfaction amongst clients and lawyers.