Law practice is a very vast and dynamic career that requires the assistance of teamwork to spend their actual time on the billable hours rather than doing the administrative work. Majority of practicing attorneys and law firms realized this way too earlier but the question remains which hiring method is the most effective? Should you hire a permanent team or outsource your administrative or non-legal tasks to a temporary team? Let’s compare the costs of each to get more insight.
Cost analysis of In-house counsel team
The in-house counsel team is a permanent set of employees for handling administrative tasks and paralegal work. The first thing that comes to mind regarding the employment of a legal assistant or an in-house team is salary.
Off-course the whole criteria will depend upon their seniority or work experience but the additional expenses such as insurance and medical plans, increments, etc. will start to add on quickly and in no time you will realize that the permanent asset is no more an asset but a financial burden to the firm, especially in the days of downfall.
When we are talking about the additional expenditure, let’s not forget about the additional office space required for the permanent assistants. The cost of rental places, office furniture, phone lines, computers, and overheads will add to the overall cost.
The employee had to be salaried for the paid leaves and when the employee will no longer be working with the firm, the firm might have to give out accrued paid time off, severance money, and vacation time.
Cost Analysis of Outsourced team
The outsourced team works in a different manner. For the tedious hiring process, we at OBS provide assistance from the very beginning of the hiring process. The lawyer should be using this time to practice law, not to develop preparations for how the law firm will interview the new legal assistant or spend time contacting their references. The law company informs the recruiter/outsourcer of the requirements they are looking for in a legal assistant, and for a predetermined price, they perform all the legwork.
Hiring a group of virtual legal assistants or a temporary legal assistant is an additional choice. Employees of the law firm who work virtually or on a temporary basis are considered independent contractors. This entails that the law company can save money by forgoing expenses such as regular salaries and wages, taxes, CPP, EI, WCB, paid time off, and benefits.
The law company can save money on office space and other costs by having the virtual legal assistant work from home. We will always have someone available with the necessary skills to complete the work by using a temporary legal assistant or a team of virtual legal assistants with Boost Legal Support. The agency makes sure there is coverage for those hours, whether it be onsite or virtually, based on the days the company specifies that an assistant is needed.
Take into account all of the expenses related to employing permanent employees. Law businesses can employ an outsourcing company to engage temporary legal assistants or hire a team of virtual legal assistants who are always ready to do the task in order to be effective and save money in the long run.