Introducing the 2022 Creditors Rights Industry Benchmarking Project and Survey
NCBA is excited to announce our 2022 Creditors Rights Industry Benchmarking Project and Survey. In collaboration with Red Bank Advisors, we are working with our members to design a meaningful benchmarking survey for our industry.
To get the project started, we pulled together three small groups of members of differing firm sizes and client types to discuss key topics and issues our members and industry are facing including what and where challenges and opportunities may lie.
The groups all discussed the following topics for benchmarking:
- Recruitment and retention of employees –from entry level to attorneys
- Compensation and incentive plans at all levels
- Compliance and cost of compliance:
- Reg F implementation
- Outsourcing – from whole functions of the firm to hiring experts to come in for short term projects
- Technology, scale, and growth opportunities
Despite the challenges of the past two years, we've seen opportunities develop among the increased regulatory landscape. By developing a strategic benchmarking survey we will be able to understand:
- The current landscape of the industry – firm performance, strategic challenges and opportunities
- Where members are today
- How we can use that information to define best practices and help the industry grow and address the future
We will open the survey to all members beginning in mid-February. The results will be shared with participants in Nashville at the 2022 Spring Conference. We encourage all members to participate to help understand how your firm fits into the broader industry, to learn from our peers and the trends of the industry, and help your firm grow.
We look forward to robust member participation so we can provide meaningful results that can help each of our members’ organizations.
If you have topics, ideas, or questions please do not hesitate to reach out to us at Membership@creditorsbar.org