Ah, the modern panel review. Such stringent criteria, so few spaces. And as the most recent public sector panel review shows, tenders aren’t getting any easier.
The Homes and Communities Agency (HCA) review certainly covers all the modern legal trends, most notably intense competition for work and pressure on fees. The body is trimming its panel, apparently in no small part due to regional firms feeling left out of the top work. Panel spots could go from 14 to eight.
And it isn’t alone in a panel revamp. It seems everyone is at it these days and firms have been confiding in The Lawyer about the increasingly tricky hoops through which they have to jump. The trickiest is fees. Lower, capped, fixed, whatever the arrangement, you could do a lot worse than to check out The Lawyer’s Global Litigation Top 50 research which unveils a host of differing options. It shows the era of the straight hourly rate is well and truly over.
The take-home lesson? Firms wanting to win a place, and stay, on panels need to get creative and trim down their costs. If not, they’ll miss out.
The Lawyer Global Litigation Top 50 is out now. To purchase your copy click here
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