In this solo episode of the Paralegals on Fire! Podcast Show, Ann discusses three key metrics you should know if you are working in a law firm that has a billable hour requirement.

Show Highlights

• Learn how to calculate your utilization, realization and productivity rates.
• Tips to improve your numbers.
• How tracking these key metrics can fast track your career!

In this podcast episode, Ann discussed two actionable strategies: 

Actionable Strategy #1: Start tracking your important numbers today!

Utilization = 1200 hours (actual hours billed) divided into 1,500 (budgeted) billable hours = 80% utilization.

Realization = It is calculated like this:  Amount Collected/Amount Entered into the system (at full rate).

Profitability = Your productivity number is the percentage of time spent on billable work compared to the total hours worked (not paid).  You can measure this by dividing hours billed into hours worked (not paid hours, just worked hours). 

Actionable Strategy #2: Check out the Billable Hour Bootcamp

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