Payroll Benchmarks — Are You Spending Too Much (or Too Little)?

Episode Summary:

Ryan Kimler breaks down the optimal payroll benchmarks for law firms, discussing the ideal percentage of revenue allocation, staffing balance, and strategic hiring decisions. Learn how to maintain competitive salaries while ensuring operational sustainability in your law practice.

 

Key Timestamps:

00:40 - Introduction to payroll benchmarks

00:57 - Optimal payroll percentage (40-45% of revenue)

03:26 - Salary considerations for solo practices

04:19 - Balancing staff experience levels

05:55 - Impact of staffing on profitability

08:33 - Compensation adjustments in current market

10:15 - Signs it's time to restructure your team

14:25 - Annual planning strategies

17:55 - Case management and tracking

 

About The Show:

The Legal CFO delivers clarity meets profitability strategies for law firm owners. Each episode provides straightforward strategies to help firms run smarter, earn more, and scale with confidence through expert insights from NetProfit CFO founder Ryan Kimler.