Thompson Dunn’s priority is adding value to our clients and we do not make assumptions about how to do so. We gather feedback in order to understand how effectively we are meeting and exceeding our client’s expectations, how we can improve and what issues our clients are currently facing. To do this, we commission an independent consultant to conduct comprehensive telephone interviews with a broad cross section of our client base. The final report for 2011 was delivered in June.
We are delighted to announce that, according to the 2011 Thompson Dunn customer survey, 100% of our clients would recommend our services and that our average satisfaction score for service overall has increased to 8.5 out of 10, exceeding our previous benchmark of 8 out of 10.
So what do Thompson Dunn actually do?
Thompson Dunn is perceived to add value to our clients by supporting personal, career and leadership development and helping to identify and reflect on strengths and weaknesses.
“Giving us an objective perspective on future talent”. SVP HR at Iron Mountain
Our clients described how our holistic approach adds value to both individuals and organisations. Thompson Dunn contributes to the bottom line by assessing, developing and benchmarking the organisational culture and talent pool. We also provide a ‘sounding board’ and source of different insights and perspectives to individuals, supporting them to accommodate change.
“In general they give people an understanding of who they are, why they behave in a particular situation and how they move forward from there”. Integration Program Manager at DHL Express, France
What do our clients think of us?
In general, the survey highlighted that we have an impressive list of clients who are pleased with the work that we do and want to build on our existing relationship as they continue to work with us. Thompson Dunn are respected for our “professional”, “honest” and “genuine” approach and it is clear that we are regarded as a trusted advisor to many of our clients.
“Relationship based, integrity and consistent approach to people”. Founder and Director at CBS Logistics
Other thoughts related to our skills and included; people who care, personality, supported, personable, caring, business like, personal relationship, effervescent and warm and fluffy. Whilst the remaining phrases were profession based, such as coaches, mentors, development assessment, psychologists, build good relationships and recruitment assessment.
A clear message from the survey was that, whilst our clients understand our ability to provide a business return on their investment, we do not deliver clear messages about how we can do so. This is something that we aim to address.
How do our clients feel following an assessment or coaching session?
The top five answers were self-understood, well understood, energised, very positive and challenged positively.
“Very positive. I always feel I’ve been given some kind of focus and new direction”. President International Brands at James Perse
Other phrases to describe how our clients feel were; supported, helped, good, positive, clearer, very comfortable, cared about, motivated, stronger, cathartic, liberated, focused, powerful, confident, encouraged, rewarded, chastised, exhausted, inspired, able to have come up with my own answers, confirmed and satisfied.
“Batteries recharged and defective ones replaced”. Integration Program Manager at DHL Express, France
What are the 5 most important people related challenges currently faced by organisations?
1. Recruiting and retaining the right people.
2. Adapting and remaining effective in a rapidly changing environment.
3. Sustaining motivation, commitment & performance.
4. Multicultural/national post merger issues.
5. Communication.
Other challenges faced by our clients include awareness, development and commercialisation of organisational culture. Talent management, succession planning and development of senior management leadership skills are also important considerations.
What are the three biggest mistakes people make when buying consultancy people services?
1. Not agreeing clear goals and objectives. The client has to be the initiator and own the outcome and the contracting process must be thorough and robust. Make sure you understand the time and resources required to support the intervention and hold regular management reviews.
2. Not ensuring you get the right individual consultants and firm to work with. Explore the options in the marketplace to ensure that you select the best consultants for the job. Provide sufficient information for the approach adopted to be relevant to your business plans and congruent with your culture.
3. Focusing on cost not value and not ensuring fee structure is clear upfront. Don’t accept a service that doesn’t meet your needs. Make sure you are clear about the extent of the intervention and what you will get out of it at the end to avoid scope creep.
We would like to thank our clients for their valuable insights, with special thanks to Martin Lyle who administered the survey on Thompson Dunn’s behalf.
By Charlotte Conrad
Reforms under the Legal Services Act, dubbed “Tesco Law” will make the UK legal market one of the most deregulated in the world and have been described as the legal equivalent of the City of London’s “Big Bang” in 1986.
By Charlotte Conrad
By Charlotte Conrad
By Charlotte Conrad
By Charlotte Conrad
Another study of an American health club found that members who worked out on average just four times a month chose to pay a monthly membership fee of $85, even though the gym also offered a pay-as-you-go rate of $10 per visit. The author suggested that when people are polled about their beliefs as to what they are going to do, there is a radical refusal to accept reality. **
The group exercises revealed various examples of rational thinking, gut instinct and emotional bias. These cases illustrate that, whilst we may believe our actions are based on reason, in practice our ability to make complex financial decisions is limited. As well as rational considerations, decision-making is also driven by aspects of our personality. Finance professionals are beginning to recognise the importance of understanding the biases and errors to which we are all prone. By doing so we can significantly improve the decisions we make.
Ariely, D (2008) 
Hill, D (2009) 
Iyengar, S (2010) 
Charlotte Conrad
National Solicitors Selling Survey 2011 Executive Summary
2011 is a pivotal year for legal professionals with impending full implementation of the Legal Services Act, an increasingly competitive market for legal services and increasingly sophisticated marketing by new entrants. The National Solicitors Selling Survey (NSSS) was conducted during the summer of 2011, its second consecutive year, and our findings are summarised below.
The bounce-back is over
Although the majority of firms surveyed in 2011 felt they were better than average at developing new business, the lack of growth in pricing and improvements in recovery rate shows less cause for optimism than last year’s survey. More firms are reporting greater downward pressure on prices and more are decreasing prices in order to compete.
Figure 1: CHANGES IN PRICING FOR THE SAME SERVICES
Marketing is becoming more sophisticated
Indications are that solicitors are using a wider range of pricing models and more marketing methods. While there is no clear pattern revealing what works best, increasing numbers of firms are moving marketing decision-making into the hands of specialist individuals reflecting a more commercial approach.
Reliance on rainmakers at the expense of marketing culture
Despite the perceived importance of business development for all legal professional roles, at the majority of legal firms less than 50% of employees carry out these activities. These results suggest that firms are relying on ‘rainmakers’ and not encouraging a culture of business development. Whilst leadership commitment is important, this approach will be unsustainable in the long-term, particularly for smaller firms.
Figure 2: WHAT PERCENTAGE OF PEOPLE AT YOUR FIRM ACTIVELY CARRY OUT BUSINESS DEVELOPMENT
The strong are getting stronger and the weak, weaker
It looks like some firms are doing well despite the economic indicators and are still pushing up prices and increasing client numbers. However, others are seeing increasing falls in recovery rates, prices and client numbers.
Recovery rates take a battering
There number of firms seeing recovery rates fall has trebled, whilst those seeing recovery rates rising has halved. This suggests that any confidence that the sector had ridden out the worst of the recession may have been misplaced. Rather, solicitors are seeing a time lag in the impact of the recession on their clients as the realisation hits that a large proportion cannot pay.
Figure 3: DESCRIBE YOUR RECOVERY RATES COMPARED TO LAST YEAR
More than half of firms see ABS as a ‘threat’
Alternative Business Structures are seen as a threat by more than half of respondents. More surprisingly, a quarter see the impending change under the Legal Services Act as an opportunity. The contrast in responses suggests a division between those firms shaping up for a new regime and those taking on a King Canute approach.
Figure 4: DO YOU CONSIDER ALTERNATIVE BUSINESS STRUCTURES A THREAT TO YOUR BUSINESS
Jump in importance of selling for new recruits
72% of firms believe that the ability to generate new clients is now a consideration for all legal professional roles. This is an enormous jump from the 42% reported last year. Furthermore, 77% of respondents believe that the ability to sell is extremely important for career progression, suggesting the new competitive pressures are being passed directly to all staff. However, our survey does not show a commensurate increase in business development and sales training.
Figure 5: THE ABILITY TO GENERATE NEW CLIENTS IS A CONSIDERATION WHEN RECRUITING FOR ALL LEGAL PROFESSIONAL ROLES